The Goldman Sachs Group Lowers Macro Bank (NYSE:BMA) Price Target to $98.00

Macro Bank (NYSE:BMA) had its target price reduced by equities researchers at The Goldman Sachs Group from $111.00 to $98.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the bank’s stock. The Goldman Sachs Group’s price objective would suggest a potential upside of 32.50% from the stock’s previous close.

A number of other research analysts have also recently issued reports on BMA. Wall Street Zen raised shares of Macro Bank from a “sell” rating to a “hold” rating in a report on Sunday. HSBC downgraded Macro Bank from a “buy” rating to a “hold” rating and set a $80.00 price target on the stock. in a research note on Monday, December 15th. Citigroup upgraded Macro Bank from a “hold” rating to a “buy” rating in a research note on Monday, November 3rd. UBS Group began coverage on Macro Bank in a research report on Wednesday, November 19th. They issued a “buy” rating and a $130.00 target price on the stock. Finally, Zacks Research lowered shares of Macro Bank from a “hold” rating to a “strong sell” rating in a research report on Monday, February 9th. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $102.60.

Macro Bank Stock Down 3.6%

Shares of BMA stock opened at $73.96 on Monday. The stock’s fifty day moving average price is $91.72 and its 200 day moving average price is $75.57. Macro Bank has a 1-year low of $38.30 and a 1-year high of $106.15. The company has a market cap of $4.73 billion, a price-to-earnings ratio of 22.48, a price-to-earnings-growth ratio of 0.38 and a beta of 1.51. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.11 and a quick ratio of 1.16.

Macro Bank (NYSE:BMA) last issued its quarterly earnings results on Thursday, February 26th. The bank reported $1.98 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.60. Macro Bank had a return on equity of 6.85% and a net margin of 4.99%.The business had revenue of $708.92 million for the quarter, compared to analyst estimates of $739.97 million. On average, research analysts expect that Macro Bank will post 7.84 earnings per share for the current fiscal year.

Institutional Trading of Macro Bank

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BMA. Benjamin Edwards Inc. acquired a new stake in shares of Macro Bank during the 3rd quarter valued at about $254,000. ABS Direct Equity Fund LLC grew its holdings in Macro Bank by 726.8% in the third quarter. ABS Direct Equity Fund LLC now owns 30,550 shares of the bank’s stock valued at $1,292,000 after purchasing an additional 26,855 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in shares of Macro Bank in the third quarter valued at approximately $992,000. Monaco Asset Management SAM raised its stake in shares of Macro Bank by 225.0% during the 2nd quarter. Monaco Asset Management SAM now owns 13,000 shares of the bank’s stock worth $913,000 after buying an additional 9,000 shares during the period. Finally, Marex Group plc purchased a new position in shares of Macro Bank during the 2nd quarter valued at approximately $1,018,000.

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.