Macro Bank Inc. (BMA) Upgraded by Zacks Investment Research to Strong-Buy

Zacks Investment Research upgraded shares of Macro Bank Inc. (NYSE:BMA) from a hold rating to a strong-buy rating in a research note released on Thursday, May 11th. They currently have $101.00 target price on the bank’s stock.

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. “

Separately, J P Morgan Chase & Co lowered shares of Macro Bank from an overweight rating to a neutral rating in a report on Thursday, February 16th.

Shares of Macro Bank (BMA) opened at 86.80 on Thursday. Macro Bank has a 12 month low of $61.12 and a 12 month high of $97.86. The stock has a 50 day moving average price of $88.84 and a 200-day moving average price of $80.39. The company has a market capitalization of $5.07 billion, a PE ratio of 11.76 and a beta of 1.37.

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The company also recently announced a … dividend, which will be paid on Friday, June 23rd. Shareholders of record on Friday, June 16th will be paid a $0.002 dividend. The ex-dividend date of this dividend is Wednesday, June 14th. This represents a yield of 0.86%. Macro Bank’s dividend payout ratio (DPR) is 19.92%.

A number of large investors have recently made changes to their positions in the stock. FIL Ltd increased its stake in shares of Macro Bank by 0.7% in the fourth quarter. FIL Ltd now owns 62,473 shares of the bank’s stock valued at $4,021,000 after buying an additional 436 shares during the period. Oxford Asset Management increased its stake in shares of Macro Bank by 100.7% in the fourth quarter. Oxford Asset Management now owns 180,000 shares of the bank’s stock valued at $11,583,000 after buying an additional 90,312 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Macro Bank by 56.8% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,645 shares of the bank’s stock valued at $621,000 after buying an additional 3,495 shares during the period. Comerica Bank increased its stake in shares of Macro Bank by 0.4% in the fourth quarter. Comerica Bank now owns 81,997 shares of the bank’s stock valued at $5,990,000 after buying an additional 363 shares during the period. Finally, Comgest Global Investors S.A.S. purchased a new stake in shares of Macro Bank during the fourth quarter valued at $766,000. Institutional investors own 23.74% of the company’s stock.

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.

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