Macro Bank Inc. (BMA) Reaches New 52-Week High at $99.17
Shares of Macro Bank Inc. (NYSE:BMA) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $99.17 and last traded at $98.35, with a volume of 39,094 shares. The stock had previously closed at $96.60.
Several analysts have recently issued reports on BMA shares. Zacks Investment Research upgraded Macro Bank from a “hold” rating to a “strong-buy” rating and set a $101.00 price target for the company in a research note on Thursday, May 11th. Credit Suisse Group upgraded Macro Bank from a “neutral” rating to an “outperform” rating in a research note on Tuesday, June 13th. Finally, ValuEngine upgraded Macro Bank from a “buy” rating to a “strong-buy” rating in a research note on Friday, July 28th. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $92.75.
The company has a market capitalization of $6.71 billion, a P/E ratio of 16.73 and a beta of 1.39. The stock has a 50 day moving average of $90.14 and a 200-day moving average of $87.03.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BMA. Royal Bank of Canada boosted its stake in Macro Bank by 66.6% in the second quarter. Royal Bank of Canada now owns 1,401 shares of the bank’s stock valued at $129,000 after buying an additional 560 shares in the last quarter. Rational Advisors LLC boosted its stake in Macro Bank by 64.3% in the second quarter. Rational Advisors LLC now owns 2,300 shares of the bank’s stock valued at $212,000 after buying an additional 900 shares in the last quarter. Rothschild Investment Corp IL purchased a new stake in Macro Bank during the first quarter valued at about $206,000. Advisor Group Inc. boosted its stake in Macro Bank by 3,796.7% in the second quarter. Advisor Group Inc. now owns 2,377 shares of the bank’s stock valued at $219,000 after buying an additional 2,316 shares in the last quarter. Finally, Tudor Investment Corp ET AL purchased a new stake in Macro Bank during the second quarter valued at about $229,000. 24.18% of the stock is owned by institutional investors.
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About Macro Bank
Banco Macro SA is an Argnetina-based financial institution (the Bank) that offers traditional bank products and services to companies, including those operating in regional economies, as well as to individuals. In addition, the Bank performs certain transactions through its subsidiaries, including mainly Banco del Tucuman, Macro Bank Ltd, Macro Securities SA, Macro Fiducia SA and Macro Fondos SGFCI SA.