Actions for investment banking Macquarie Group Ltd. (ASX: MQG) have become gangbusters this year.

The stock price rose almost 47% in 2021. This despite falling 7% late last month as news of COVID-19 Omicron grabbed the headlines. Although much of this has since been recovered.

Macquarie’s valuation has exploded to the point that it is now Australia’s fourth largest bank, technically evicted Australia and New Zealand Banking Group Ltd (ASX: ANZ) of the big four.

So, is this wonder now at a high price? What does 2022 have in store for Macquarie shares?

Hold until 2022, but look for drops before buying

Medallion Financial chief executive Michael Wayne told The Motley Fool that his team continues to hold Macquarie shares for many clients.

“It’s a good performance over a long period of time.”

But with the current price close to its all-time high, it is not certain that it would actively buy the stock at this time.

“It’s difficult to be a buyer at these levels, and our preference would be to buy after a decent decline,” he said.

“If there was a significant downturn in the market, this is definitely the one we would have on the watch list.”

Marcus Padley, founder of Marcus Today, last week named Macquarie as an ASX stock that he would keep forever.

“In the United States, the competition among investment banks is simply fierce. Here, if you are a smart, finance oriented graduate keen to be in the market, where did you go to work? He posed for Livewire.

“You are going to work at Macquarie, you are not going to work in a very institutionalized bank. You work at a bank with 14,000 of Australia’s smartest financial minds with one goal in mind: to make money. And I think it’s a very good investment.

Macquarie Stocks Bullish Analysts

According to CMC Markets, seven out of 14 analysts view Macquarie shares as a solid buy.

If you include the two that rate it as a moderate buy, it becomes nine out of 14 who think investors should buy Macquarie shares right now. Four rate it as a holdback, while one person urges customers to sell.

Alphinity Investment Management client portfolio manager Elfreda Jonker told The Motley Fool earlier this month that Macquarie is one of the biggest holdings in her fund.

“Even after the last big boost we had, we really see it as a quality longer term asset in our overall portfolio,” she said.

“It’s trade on a PE [ratio] by about 19 times, so that’s ahead of their long term average of around 16. But in our opinion, we think the way they are busy changing the business model and really just expanding the different avenues. businesses in which they are found, we believe that this business can continue to generate very good income scores.

Macquarie shares closed at $ 202.50 on Monday.