Banco BBVA Argentina (NYSE:BBAR) Shares Up 4% – Here’s Why

Banco BBVA Argentina S.A. (NYSE:BBAR) traded up 4% during mid-day trading on Tuesday . The stock traded as high as $19.89 and last traded at $19.78. 252,800 shares traded hands during trading, a decline of 69% from the average session volume of 827,823 shares. The stock had previously closed at $19.01.

Wall Street Analysts Forecast Growth

BBAR has been the subject of a number of analyst reports. StockNews.com downgraded Banco BBVA Argentina from a “buy” rating to a “hold” rating in a research note on Tuesday, December 24th. Morgan Stanley raised Banco BBVA Argentina from an “underweight” rating to an “overweight” rating and set a $27.00 target price for the company in a report on Monday, December 16th.

Banco BBVA Argentina Trading Up 4.6 %

The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.09. The stock has a market cap of $4.06 billion, a PE ratio of 10.35 and a beta of 1.41. The business’s fifty day moving average is $20.20 and its 200 day moving average is $16.95.

Hedge Funds Weigh In On Banco BBVA Argentina

Hedge funds have recently bought and sold shares of the company. Public Employees Retirement System of Ohio purchased a new stake in Banco BBVA Argentina during the fourth quarter worth $1,742,000. Point72 Asset Management L.P. boosted its position in shares of Banco BBVA Argentina by 42.6% in the 4th quarter. Point72 Asset Management L.P. now owns 61,600 shares of the bank’s stock worth $1,174,000 after buying an additional 18,400 shares in the last quarter. PointState Capital LP grew its stake in Banco BBVA Argentina by 47.7% in the 4th quarter. PointState Capital LP now owns 2,458,304 shares of the bank’s stock valued at $46,855,000 after acquiring an additional 793,411 shares during the last quarter. Millennium Management LLC increased its holdings in Banco BBVA Argentina by 695.8% during the 4th quarter. Millennium Management LLC now owns 523,438 shares of the bank’s stock valued at $9,977,000 after acquiring an additional 457,663 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Banco BBVA Argentina by 93.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,733,785 shares of the bank’s stock worth $33,046,000 after acquiring an additional 836,688 shares during the last quarter.

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.