Zacks Research Downgrades Macro Bank (NYSE:BMA) to Strong Sell

Macro Bank (NYSE:BMA) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Monday,Zacks.com reports.

Several other equities research analysts have also recently commented on BMA. JPMorgan Chase & Co. increased their price objective on Macro Bank from $79.00 to $120.00 and gave the company an “overweight” rating in a research report on Tuesday, October 28th. Itau BBA Securities upgraded shares of Macro Bank from a “market perform” rating to an “outperform” rating in a research note on Monday, October 27th. Weiss Ratings reiterated a “sell (d)” rating on shares of Macro Bank in a research note on Monday, December 29th. The Goldman Sachs Group raised shares of Macro Bank to a “strong-buy” rating in a report on Monday, November 10th. Finally, HSBC cut shares of Macro Bank from a “buy” rating to a “hold” rating and set a $80.00 target price on the stock. in a report on Monday, December 15th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $103.75.

Macro Bank Price Performance

Shares of BMA opened at $95.13 on Monday. The company has a market capitalization of $6.08 billion, a P/E ratio of 43.04, a price-to-earnings-growth ratio of 1.39 and a beta of 1.46. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.30. The firm has a 50 day moving average of $92.50 and a 200 day moving average of $74.07. Macro Bank has a twelve month low of $38.30 and a twelve month high of $106.15.

Macro Bank (NYSE:BMA) last released its quarterly earnings data on Wednesday, November 26th. The bank reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($1.06). The business had revenue of $625.90 million during the quarter, compared to the consensus estimate of $590.57 million. Macro Bank had a net margin of 6.11% and a return on equity of 8.15%. As a group, equities research analysts anticipate that Macro Bank will post 7.84 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in BMA. Millennium Management LLC grew its position in shares of Macro Bank by 100.7% during the 3rd quarter. Millennium Management LLC now owns 575,206 shares of the bank’s stock valued at $24,325,000 after acquiring an additional 288,614 shares during the period. Aquamarine Financial Cayman Ltd raised its holdings in Macro Bank by 23.8% in the 4th quarter. Aquamarine Financial Cayman Ltd now owns 564,501 shares of the bank’s stock worth $50,895,000 after purchasing an additional 108,540 shares during the period. Cape Ann Asset Management Ltd lifted its position in Macro Bank by 66.2% during the third quarter. Cape Ann Asset Management Ltd now owns 461,216 shares of the bank’s stock valued at $19,505,000 after purchasing an additional 183,700 shares in the last quarter. Candriam S.C.A. bought a new stake in Macro Bank during the third quarter valued at about $13,643,000. Finally, Fundamenta Capital S.A. purchased a new stake in Macro Bank in the fourth quarter worth about $17,130,000.

Macro Bank Company Profile

Macro Bank (NYSE: BMA) is the American depositary receipt program of Banco Macro SA, one of the largest privately owned banks in Argentina. Headquartered in Buenos Aires, the institution delivers a comprehensive suite of banking solutions to retail, corporate and agricultural customers across the country. Through its extensive branch network and digital platforms, Macro Bank aims to serve diverse client segments with tailored financial products and services.

The bank’s offerings span traditional deposit accounts—including checking, savings and term deposits—alongside payment and transaction services.