Allspring Global Investments Holdings LLC Increases Holdings in Macro Bank Inc. (NYSE:BMA)

Allspring Global Investments Holdings LLC grew its holdings in Macro Bank Inc. (NYSE:BMA) by 11.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 56,568 shares of the bank’s stock after acquiring an additional 5,629 shares during the period. Allspring Global Investments Holdings LLC owned about 0.09% of Macro Bank worth $4,271,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. GAMMA Investing LLC lifted its position in shares of Macro Bank by 9,810.7% in the first quarter. GAMMA Investing LLC now owns 77,700 shares of the bank’s stock valued at $5,867,000 after acquiring an additional 76,916 shares in the last quarter. ABS Direct Equity Fund LLC purchased a new position in shares of Macro Bank in the first quarter valued at about $310,000. Jump Financial LLC lifted its position in shares of Macro Bank by 201.8% in the fourth quarter. Jump Financial LLC now owns 24,992 shares of the bank’s stock valued at $2,418,000 after acquiring an additional 16,710 shares in the last quarter. HUB Investment Partners LLC purchased a new stake in shares of Macro Bank in the fourth quarter worth about $326,000. Finally, Gemsstock Ltd. purchased a new stake in shares of Macro Bank in the fourth quarter worth about $15,349,000.

Macro Bank Price Performance

NYSE:BMA opened at $69.75 on Monday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $4.46 billion, a P/E ratio of 6.11, a P/E/G ratio of 0.28 and a beta of 1.60. Macro Bank Inc. has a 12 month low of $42.23 and a 12 month high of $118.42. The business’s 50-day moving average is $81.88 and its 200 day moving average is $88.13.

Macro Bank (NYSE:BMA) last issued its quarterly earnings data on Wednesday, May 28th. The bank reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.76 by ($1.11). Macro Bank had a net margin of 1.12% and a return on equity of 1.50%. The company had revenue of $759.36 million for the quarter, compared to analysts’ expectations of $837.49 billion. On average, equities research analysts forecast that Macro Bank Inc. will post 7.84 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. JPMorgan Chase & Co. boosted their target price on Macro Bank from $78.00 to $89.00 and gave the stock a “neutral” rating in a research report on Monday, April 21st. Itau BBA Securities assumed coverage on Macro Bank in a research report on Tuesday, May 20th. They issued a “market perform” rating and a $85.00 target price on the stock. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $62.13.

Macro Bank Profile

Banco Macro SA provides various banking products and services to retail and corporate customers in Argentina. It offers various retail banking products and services, such as savings and checking accounts, time deposits, credit and debit cards, consumer finance loans, mortgage loans, automobile loans, overdrafts, credit-related services, home and car insurance coverage, tax collection, utility payments, automated teller machines, and money transfers.