Banco Macro (NYSE:BMA) Stock

Banco Macro

Banco Macro SA is a financial institution and it provides standard banking products and services designed to suit individual needs. It has two categories of customers, retail customers, which include individuals and entrepreneurs, and corporate customers, which include small, medium, and large companies and corporations. In addition, it provides services to four provincial governments. It generates the majority of its revenue from Argentina.

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Marvell Technology Posts Upbeat Sales, Joins MongoDB, Intel, MINISO Group And Other Big Stocks Moving Higher On Friday

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Deutsche Bank AG (NYSE: DB) benefits from a strong balance sheet position and revenue growth. Its strong liquidity profile aids sustainable capital distribution activities. However, a rise in expenses and a deterioration in credit quality are concerning.

Deutsche Bank&#39;s Deposit Base Aids, Low Credit Quality Ails

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Itaú Unibanco Holding S.A. (NYSE: ITUB) has announced a corporate internal restructuring plan. This will include the merger of its wholly-owned subsidiary, Hipercard Banco Múltiplo S.A. (&#34;Hipercard&#34;), subject to approval from the Central Bank of Brazil.

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Shares of companies within the banking and financial sector are trading lower amid overall market weakness as investors react to developments regarding advancements in Chinese artificial intelligence. Additionally, investors could be assessing the economic impact of potential tariffs and trade uncertainty.

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Shares of US banks are trading higher after Federal Reserve Board Vice Chair for Supervision Michael Barr announced he will step down, effective Feb. 28.

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Shares of banking companies are trading lower amid overall market sympathy following the Fed's rate decision to cut rates by 25 basis points.

Banco Macro shares are trading higher after Morgan Stanley upgraded the stock from Underweight to Overweight.

Morgan Stanley analyst Jorge Kuri upgrades Banco Macro (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMA#NYSE">BMA</a>) from Underweight to Overweight and announces $12.5 price target.

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Morgan Stanley Upgrades Banco Macro to Overweight, Announces $12.5 Price Target

Banco Macro Q3 Net Income Up 293% YoY, Total Deposits Increase 30% YoY

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Shares of US-listed Argentine stocks are trading higher on continued strength after the nation received a credit upgrade from Fitch over the weekend.

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Shares of US-listed Argentine stocks are trading higher after Donald Trump's presidential victory.

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Shares of US-listed Argentine stocks are trading higher after Banco de la Nacion, the country's largest bank, stated it wants to issue debt and return to international capital markets for the first time in 30 years.

U.S. stocks were higher, with the Nasdaq Composite gaining around 150 points on Friday.
Shares of Marvell Technology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRVL#NASDAQ">MRVL</a>) rose during Friday's session after the company reported <a href="https://www.benzinga.com/news/earnings/24/08/40639373/marvell-technology-stock-climbs-on-q2-strong-q3-guidance">better-than-expected quarterly sales results.</a>
Marvell reported quarterly GAAP earnings of 30 cents per share, in-line with the analyst consensus estimate. Quarterly sales came in at $1.27 billion, which beat the analyst consensus estimate by 1.65%.
Marvell Technology shares gained 6.1% to $74.09 on Friday.
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<li>BridgeBio Pharma, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BBIO#NASDAQ">BBIO</a>) gained 10.1% to $27.09 in reaction to Alnylam Pharmaceuticals&#8217; detailed data from HELIOS-B Phase 3 study of vutrisiran. BridgeBio Pharma has ATTR-CM therapy acoramidis, currently under FDA priority review with an action date of November 29.</li>
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<li>Banco Macro S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMA#NYSE">BMA</a>) gained 7.8% to $60.07. JP Morgan analyst Domingos Falavina upgraded Banco Macro from Underweight to Neutral and raised the price target from $14 to $78.</li>
<li>MINISO Group Holding Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MNSO#NYSE">MNSO</a>) gained 5.5% to $17.23 after the company reported fourth-quarter financial results and announced a share repurchase program of HK$2 billion.</li>
<li>Frontline plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FRO#NYSE">FRO</a>) gained 4.6% to $24.41 following strong quarterly sales.</li>
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<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/08/40651658/this-is-a-very-speculative-situation-jim-cramer-on-adma-biologics">&#8216;This Is A Very Speculative Situation,&#8217; Jim Cramer On ADMA Biologics</a></li>
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Banco Marco shares are trading higher after JP Morgan upgraded the stock from Underweight to Neutral and raised its price target from $14 to $78.

JP Morgan analyst Domingos Falavina upgrades Banco Macro (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMA#NYSE">BMA</a>) from Underweight to Neutral and raises the price target from $14 to $78.

JP Morgan Upgrades Banco Macro to Neutral, Raises Price Target to $78

Banco Marco shares are trading higher. The company reported Q2 financial results.

Banco Macro Q2 Net Income Ps.233.2B Loss; Net Interest Income Ps.188B Down From Ps.213.1B YoY

Banco Macro shares are trading higher after B of A Securities upgraded the stock from Underperform to Neutral and raised its price target from $53 to $62.

B of A Securities analyst Ernesto Gabilondo upgrades Banco Macro (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMA#NYSE">BMA</a>) from Underperform to Neutral and raises the price target from $53 to $62.

B of A Securities Upgrades Banco Macro to Neutral, Raises Price Target to $62

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Shares of banking companies are trading lower amid overall market weakness following weak US jobs data.

Shares of US-listed Argentina stocks are trading higher after Argentina's Senate passed the Bases law.

Deutsche Bank AG (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/db#NYSE">DB</a>) benefits from a strong balance sheet position and revenue growth. Its strong liquidity profile aids sustainable capital distribution activities. However, a rise in expenses and a deterioration in credit quality are concerning.
Deutsche Bank continues to benefit from its deposit balance. The metric has witnessed a 2% CAGR over the last five years (ending in 2023) and the trend continued in the first quarter of 2024. Furthermore, the bank benefits from a diverse deposit base that spans multiple client categories and geographic regions. Also, as of Mar 31, 2024, the company&#39;s loan-to-deposit ratio was 75.7%, indicating a robust and steady capital foundation. We believe that a stable deposit level will benefit its balance sheet.
DB remains focused on strengthening its capital position. As of Mar 31, 2024, the Common Equity Tier 1 (CET 1) ratio was 13.4%. Risk-weighted asset (RWA) reductions and strong organic capital generation enabled the bank to see improvement in the CET1 ratio. As of Mar 31, 2024, &euro;15 billion of RWA reductions have been achieved, out of the target to reach &euro;25-30 billion in reductions by 2025-end. It expects to maintain a CET 1 ratio of approximately 13% by 2025.
Net revenues recorded a CAGR of 2.7% over the last five years (ended 2023), with this upswing persisting in the first quarter of 2024. Management is shifting focus from investment banking to more stable and capital-light businesses, like private bank, corporate bank and asset management units.
Shares of this Zacks Rank #3 (Hold) company have gained 20% on the NYSE over the past three months compared with the industry&#39;s growth of 10.8%.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/4e/68122.jpg?v=1559669298" />
Image Source: Zacks Investment Research
The bank has seen a deterioration in its credit quality. Its provision for credit losses witnessed a CAGR of 23.4% over the last five years (ended 2023), with the rising trend continuing in the first quarter of 2024. The current volatile economic backdrop is expected to affect credit quality in the near term. We project provisions to be &euro;1.67 billion and &euro;3.91 billion in 2024 and 2025, respectively.
Due to the nature of its business, Deutsche Bank is involved in litigation, arbitration and regulatory processes in Germany as well as a number of other jurisdictions. The bank has already incurred considerable legal settlement fees, which have had a negative impact on its finances.
<h3>Bank Stocks Worth Considering</h3>
Some better-ranked foreign bank stocks are Banco Macro S.A. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bma#NYSE">BMA</a>) and Bancolombia S.A. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cib#NYSE">CIB</a>).
The consensus estimate for Banco Macro&#39;s current-year earnings has been revised 29.6% upward over the past 30 days. Over the past three months, shares of BMA have surged 69.9%. The stock currently sports a Zacks Rank #1 (Strong Buy).
Bancolombia S.A.&#39;s current-year earnings have been revised almost 1% upward over the past 30 days. Shares of CIB have gained 11.6% over the past three months. The stock currently carries a Zacks Rank #2 (Buy).
<a href="https://www.zacks.com/stock/news/2283456/deutsche-bank-s-db-deposit-base-aids-low-credit-quality-ails?cid=CS-BENZ-FT-analyst_blog|zer_report_update-2283456">To read this article on Zacks.com click here.</a>

Deutsche Bank's Deposit Base Aids, Low Credit Quality Ails

Press Releases

Banco Macro Announces Results for the Fourth Quarter of 2023

Banco Macro S.A. Informs the Market of the Filing of its Annual Report on form 20-F for the Fiscal Year Ended December 31, 2023

Banco Macro Announces Results for the First Quarter of 2024

Banco Macro Announces Results for the Second Quarter of 2024

Banco Macro Announces Results for the Third Quarter of 2024

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