Macro Bank Inc. (BMA) Downgraded by Zacks Investment Research to “Hold”
Macro Bank Inc. (NYSE:BMA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Tuesday.
According to Zacks, “Banco Macro Bansud is a leading bank in Argentina. With the most extensive private-sector branch network in the country, Banco Marco provides standard banking products and services to a nationwide customer base. “
Several other research firms also recently commented on BMA. ValuEngine upgraded Macro Bank from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. BidaskClub upgraded Macro Bank from a “hold” rating to a “buy” rating in a report on Saturday, August 26th. Goldman Sachs Group, Inc. (The) downgraded Macro Bank from a “buy” rating to a “neutral” rating and set a $113.70 price objective on the stock. in a report on Monday, September 11th. Finally, Santander downgraded Macro Bank from a “hold” rating to an “underperform” rating in a report on Friday, September 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $116.35.
Shares of Macro Bank (BMA) traded down 0.96% during midday trading on Tuesday, reaching $125.87. The company had a trading volume of 237,520 shares. The firm’s 50 day moving average price is $111.60 and its 200-day moving average price is $94.63. Macro Bank has a 1-year low of $61.12 and a 1-year high of $127.45. The stock has a market capitalization of $8.29 billion, a price-to-earnings ratio of 20.14 and a beta of 1.36.
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Several large investors have recently made changes to their positions in BMA. Royal Bank of Canada increased its holdings in shares of Macro Bank by 66.6% in the 2nd quarter. Royal Bank of Canada now owns 1,401 shares of the bank’s stock valued at $129,000 after acquiring an additional 560 shares during the period. Rational Advisors LLC increased its holdings in shares of Macro Bank by 64.3% in the 2nd quarter. Rational Advisors LLC now owns 2,300 shares of the bank’s stock valued at $212,000 after acquiring an additional 900 shares during the period. Advisor Group Inc. increased its holdings in shares of Macro Bank by 3,796.7% in the 2nd quarter. Advisor Group Inc. now owns 2,377 shares of the bank’s stock valued at $219,000 after acquiring an additional 2,316 shares during the period. Indiana Trust & Investment Management CO purchased a new position in shares of Macro Bank in the 3rd quarter valued at $228,000. Finally, Tudor Investment Corp ET AL purchased a new position in shares of Macro Bank in the 2nd quarter valued at $229,000. Institutional investors and hedge funds own 28.00% of the company’s stock.
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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