Pioneer Investment Management Inc. acquired a new stake in shares of Macro Bank Inc. (NYSE:BMA) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 18,904 shares of the bank’s stock, valued at approximately $1,743,000.
A number of other hedge funds have also recently modified their holdings of BMA. Rothschild Investment Corp IL acquired a new position in Macro Bank during the first quarter valued at approximately $206,000. Bailard Inc. acquired a new position in Macro Bank during the first quarter valued at approximately $220,000. Bank of New York Mellon Corp acquired a new position in Macro Bank during the first quarter valued at approximately $269,000. Sumitomo Mitsui Trust Holdings Inc. acquired a new position in Macro Bank during the first quarter valued at approximately $269,000. Finally, Gramercy Funds Management LLC acquired a new position in Macro Bank during the first quarter valued at approximately $274,000. 24.18% of the stock is owned by institutional investors.
Macro Bank Inc. (NYSE:BMA) opened at 96.10 on Wednesday. The stock’s 50 day moving average price is $88.95 and its 200 day moving average price is $86.18. Macro Bank Inc. has a 1-year low of $61.12 and a 1-year high of $97.86. The stock has a market capitalization of $5.62 billion, a PE ratio of 14.32 and a beta of 1.39.
BMA has been the subject of several research analyst reports. Zacks Investment Research upgraded Macro Bank from a “hold” rating to a “strong-buy” rating and set a $101.00 target price for the company in a research note on Thursday, May 11th. Credit Suisse Group upgraded Macro Bank from a “neutral” rating to an “outperform” rating in a research note on Tuesday, June 13th. Finally, ValuEngine upgraded Macro Bank from a “buy” rating to a “strong-buy” rating in a research note on Friday, July 28th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $92.75.
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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