Macro Bank Inc. (NYSE:BMA) has been assigned an average recommendation of “Buy” from the eight brokerages that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $116.35.
Several research firms recently issued reports on BMA. ValuEngine cut Macro Bank from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 2nd. Goldman Sachs Group, Inc. (The) cut Macro Bank from a “buy” rating to a “neutral” rating and set a $113.70 price objective on the stock. in a research report on Monday, September 11th. Zacks Investment Research cut Macro Bank from a “hold” rating to a “sell” rating in a research report on Wednesday, August 9th. BidaskClub raised Macro Bank from a “hold” rating to a “buy” rating in a research report on Saturday, August 26th. Finally, Credit Suisse Group raised Macro Bank from a “neutral” rating to an “outperform” rating in a research report on Tuesday, June 13th.
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A number of institutional investors and hedge funds have recently made changes to their positions in BMA. Royal Bank of Canada raised its stake in Macro Bank by 66.6% during the 2nd quarter. Royal Bank of Canada now owns 1,401 shares of the bank’s stock valued at $129,000 after buying an additional 560 shares during the last quarter. Rational Advisors LLC raised its stake in Macro Bank by 64.3% during the 2nd quarter. Rational Advisors LLC now owns 2,300 shares of the bank’s stock valued at $212,000 after buying an additional 900 shares during the last quarter. Advisor Group Inc. raised its stake in Macro Bank by 3,796.7% during the 2nd quarter. Advisor Group Inc. now owns 2,377 shares of the bank’s stock valued at $219,000 after buying an additional 2,316 shares during the last quarter. Indiana Trust & Investment Management CO purchased a new stake in Macro Bank during the 3rd quarter valued at $228,000. Finally, Tudor Investment Corp ET AL purchased a new stake in Macro Bank during 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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