Macro Bank Inc. (BMA) Position Raised by Harding Loevner LP
Harding Loevner LP increased its stake in Macro Bank Inc. (NYSE:BMA) by 2.3% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 130,932 shares of the bank’s stock after acquiring an additional 2,900 shares during the quarter. Harding Loevner LP’s holdings in Macro Bank were worth $12,071,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Rational Advisors LLC grew its holdings in shares of Macro Bank by 64.3% during the second quarter. Rational Advisors LLC now owns 2,300 shares of the bank’s stock worth $212,000 after buying an additional 900 shares in the last quarter. Bailard Inc. purchased a new stake in shares of Macro Bank during the first quarter worth $220,000. Bank of New York Mellon Corp purchased a new stake in shares of Macro Bank during the first quarter worth $269,000. Citigroup Inc. grew its holdings in shares of Macro Bank by 30.8% during the second quarter. Citigroup Inc. now owns 3,091 shares of the bank’s stock worth $285,000 after buying an additional 727 shares in the last quarter. Finally, Pacad Investment Ltd. grew its holdings in shares of Macro Bank by 68.4% during the second quarter. Pacad Investment Ltd. now owns 3,200 shares of the bank’s stock worth $295,000 after buying an additional 1,300 shares in the last quarter. 31.55% of the stock is owned by institutional investors.
Macro Bank Inc. (NYSE BMA) traded up 5.52% during midday trading on Friday, hitting $113.96. 353,991 shares of the stock were exchanged. The firm has a 50-day moving average price of $98.40 and a 200-day moving average price of $90.15. Macro Bank Inc. has a one year low of $61.12 and a one year high of $114.33. The stock has a market cap of $7.50 billion, a P/E ratio of 18.23 and a beta of 1.37.
BMA has been the subject of a number of research reports. Zacks Investment Research lowered shares of Macro Bank from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. ValuEngine raised shares of Macro Bank from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. BidaskClub raised shares of Macro Bank from a “hold” rating to a “buy” rating in a report on Saturday, August 26th. Goldman Sachs Group, Inc. (The) lowered shares of Macro Bank from a “buy” rating to a “neutral” rating and set a $113.70 target price for the company. in a report on Monday, September 11th. Finally, Credit Suisse Group raised shares of Macro Bank from a “neutral” rating to an “outperform” rating in a report on Tuesday, June 13th. One analyst has rated the stock with a sell rating, two have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $116.35.
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.
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