ValuEngine upgraded shares of Macro Bank Inc. (NYSE:BMA) from a buy rating to a strong-buy rating in a research report released on Friday morning.

Other equities research analysts have also recently issued reports about the stock. Zacks Investment Research cut shares of Macro Bank from a buy rating to a hold rating in a research report on Thursday, June 15th. Credit Suisse Group raised shares of Macro Bank from a neutral rating to an outperform rating in a research report on Tuesday, June 13th. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $92.75.

Macro Bank (NYSE:BMA) opened at 86.81 on Friday. The stock has a 50 day moving average of $88.99 and a 200 day moving average of $84.95. The firm has a market capitalization of $50.75 billion, a price-to-earnings ratio of 126.55 and a beta of 1.41. Macro Bank has a one year low of $61.12 and a one year high of $97.86.

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A number of hedge funds and other institutional investors have recently made changes to their positions in BMA. Sei Investments Co. boosted its position in shares of Macro Bank by 156.5% in the second quarter. Sei Investments Co. now owns 10,505 shares of the bank’s stock worth $968,000 after buying an additional 6,410 shares during the period. State of New Jersey Common Pension Fund D boosted its position in shares of Macro Bank by 24.5% in the second quarter. State of New Jersey Common Pension Fund D now owns 78,703 shares of the bank’s stock worth $7,255,000 after buying an additional 15,510 shares during the period. Eagle Global Advisors LLC boosted its position in shares of Macro Bank by 10.0% in the second quarter. Eagle Global Advisors LLC now owns 11,000 shares of the bank’s stock worth $1,014,000 after buying an additional 1,000 shares during the period. Parkwood LLC acquired a new position in shares of Macro Bank during the second quarter worth $553,000. Finally, Russell Investments Group Ltd. boosted its position in shares of Macro Bank by 8.0% in the second quarter. Russell Investments Group Ltd. now owns 238,071 shares of the bank’s stock worth $21,946,000 after buying an additional 17,653 shares during the period. 23.58% of the stock is currently owned by hedge funds and other institutional investors.

Macro Bank Company Profile

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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