Banco BBVA Argentina (NYSE:BBAR) Shares Up 6.7% – Time to Buy?

Banco BBVA Argentina S.A. (NYSE:BBAR) traded up 6.7% during mid-day trading on Thursday . The company traded as high as $12.14 and last traded at $12.09. 556,601 shares traded hands during trading, a decline of 36% from the average session volume of 872,245 shares. The stock had previously closed at $11.33.

Analyst Ratings Changes

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

Banco BBVA Argentina Trading Up 7.9 %

The stock has a 50-day moving average price of $10.94 and a two-hundred day moving average price of $10.06. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.82 and a current ratio of 0.91. The stock has a market capitalization of $2.50 billion, a P/E ratio of 7.65 and a beta of 1.50.

Banco BBVA Argentina (NYSE:BBAR) last released its earnings results on Wednesday, August 21st. The bank reported $0.61 EPS for the quarter, topping the consensus estimate of $0.26 by $0.35. Banco BBVA Argentina had a return on equity of 9.98% and a net margin of 4.23%. The business had revenue of $892.11 million for the quarter, compared to the consensus estimate of $599.49 million. On average, research analysts forecast that Banco BBVA Argentina S.A. will post 1.88 EPS for the current fiscal year.

Institutional Investors Weigh In On Banco BBVA Argentina

Hedge funds and other institutional investors have recently modified their holdings of the stock. Ping Capital Management Inc. purchased a new position in shares of Banco BBVA Argentina in the second quarter valued at $11,293,000. Fourth Sail Capital LP boosted its holdings 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 buying an additional 1,009,103 shares in the last quarter. Rokos Capital Management LLP purchased a new position in Banco BBVA Argentina in the first quarter worth $501,000. Virtu Financial LLC acquired a new position in Banco BBVA Argentina during the 1st quarter valued at about $413,000. Finally, SG Americas Securities LLC acquired a new stake in Banco BBVA Argentina in the 3rd quarter worth approximately $246,000.

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.