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Banco BBVA Argentina (NYSE:BBAR) Stock Price Up 7.7% - Here's Why

Banco BBVA Argentina logo with Finance background

Banco BBVA Argentina S.A. (NYSE:BBAR - Get Free Report)'s share price was up 7.7% during trading on Monday . The company traded as high as $24.29 and last traded at $23.98. Approximately 1,383,556 shares changed hands during mid-day trading, a decline of 8% from the average daily volume of 1,507,589 shares. The stock had previously closed at $22.26.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on BBAR. StockNews.com cut shares of Banco BBVA Argentina from a "buy" rating to a "hold" rating in a research report on Tuesday, December 24th. Morgan Stanley raised shares of Banco BBVA Argentina from an "underweight" rating to an "overweight" rating and set a $27.00 price target for the company in a research report on Monday, December 16th.

View Our Latest Analysis on BBAR

Banco BBVA Argentina Trading Up 4.8 %

The firm has a fifty day moving average of $17.20 and a 200 day moving average of $12.65. The firm has a market capitalization of $4.76 billion, a PE ratio of 12.15 and a beta of 1.42. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.90 and a current ratio of 0.99.

Hedge Funds Weigh In On Banco BBVA Argentina

A number of institutional investors have recently added to or reduced their stakes in BBAR. Ping Capital Management Inc. purchased a new stake in shares of Banco BBVA Argentina during the second quarter worth about $11,293,000. Fourth Sail Capital LP raised its position in shares of Banco BBVA Argentina by 74.6% in the 2nd quarter. Fourth Sail Capital LP now owns 2,361,386 shares of the bank's stock valued at $21,843,000 after purchasing an additional 1,009,103 shares in the last quarter. PointState Capital LP boosted its stake in shares of Banco BBVA Argentina by 14.2% during the 3rd quarter. PointState Capital LP now owns 1,664,893 shares of the bank's stock valued at $17,265,000 after buying an additional 206,399 shares during the last quarter. Sagil Capital LLP acquired a new stake in shares of Banco BBVA Argentina during the third quarter worth approximately $2,131,000. Finally, Mirabella Financial Services LLP acquired a new stake in Banco BBVA Argentina in the third quarter valued at $1,155,000.

Banco BBVA Argentina Company Profile

(Get Free Report)

Banco BBVA Argentina SA provides various banking products and services to individuals and companies in Argentina. The company provides retail banking products and services, such as checking and savings accounts, time deposits, credit cards financing, consumer and pledge loans, mortgages, insurance, and investment products to individuals; and small and medium-sized companies products and services, including financing products, factoring, checking accounts, time deposits, transactional and payroll services, insurance, and investment products to private-sector companies.

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