Banco BBVA Argentina (NYSE:BBAR) Shares Down 2.7% - Here's What Happened

Banco BBVA Argentina S.A. (NYSE:BBAR - Get Free Report)'s share price dropped 2.7% during trading on Wednesday . The company traded as low as $11.71 and last traded at $11.71. Approximately 191,206 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 884,104 shares. The stock had previously closed at $12.04.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Banco BBVA Argentina from a "hold" rating to a "buy" rating in a report on Monday, September 2nd.

Banco BBVA Argentina Trading Down 5.8 %

The firm's 50 day simple moving average is $10.73 and its 200-day simple moving average is $9.96. The company has a quick ratio of 0.82, a current ratio of 0.91 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $2.32 billion, a PE ratio of 7.18 and a beta of 1.50.

Banco BBVA Argentina (NYSE:BBAR - Get Free Report) last announced its quarterly earnings results on Wednesday, August 21st. The bank reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.35. The firm had revenue of $892.11 million during the quarter, compared to the consensus estimate of $599.49 million. Banco BBVA Argentina had a return on equity of 9.98% and a net margin of 4.23%. As a group, equities research analysts anticipate that Banco BBVA Argentina S.A. will post 1.88 EPS for the current year.

Banco BBVA Argentina Increases Dividend

The business also recently declared a -- dividend, which was paid on Friday, August 9th. Investors of record on Friday, August 2nd were given a dividend of $0.5134 per share. The ex-dividend date was Friday, August 2nd. This is a positive change from Banco BBVA Argentina's previous -- dividend of $0.11. Banco BBVA Argentina's payout ratio is 90.51%.

Institutional Trading of Banco BBVA Argentina

A number of hedge funds have recently made changes to their positions in BBAR. Truist Financial Corp acquired a new stake in Banco BBVA Argentina during the 2nd quarter valued at approximately $167,000. SG Americas Securities LLC acquired a new stake in shares of Banco BBVA Argentina during the third quarter worth approximately $246,000. Quantbot Technologies LP increased its stake in shares of Banco BBVA Argentina by 239.7% in the first quarter. Quantbot Technologies LP now owns 27,918 shares of the bank's stock worth $237,000 after buying an additional 19,700 shares during the last quarter. Virtu Financial LLC acquired a new stake in Banco BBVA Argentina in the first quarter valued at $413,000. Finally, Rokos Capital Management LLP bought a new position in Banco BBVA Argentina during the 1st quarter valued at $501,000.

About Banco BBVA Argentina

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.