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

Banco BBVA Argentina S.A. (NYSE:BBAR)’s share price gapped up before the market opened on Friday . The stock had previously closed at $21.77, but opened at $22.64. Banco BBVA Argentina shares last traded at $21.95, with a volume of 285,469 shares.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Morgan Stanley raised Banco BBVA Argentina from an “underweight” rating to an “overweight” rating and set a $27.00 price objective for the company in a report on Monday, December 16th. StockNews.com downgraded shares of Banco BBVA Argentina from a “buy” rating to a “hold” rating in a research report on Tuesday, December 24th.

Banco BBVA Argentina Stock Down 3.2 %

The stock has a market cap of $4.31 billion, a P/E ratio of 10.98 and a beta of 1.49. The firm has a 50 day simple moving average of $16.84 and a 200-day simple moving average of $12.44. The company has a quick ratio of 0.90, a current ratio of 0.99 and a debt-to-equity ratio of 0.09.

Hedge Funds Weigh In On Banco BBVA Argentina

Large investors have recently modified their holdings of the stock. Ping Capital Management Inc. bought a new stake in shares of Banco BBVA Argentina during the 2nd quarter worth about $11,293,000. Fourth Sail Capital LP boosted its holdings in shares of Banco BBVA Argentina by 74.6% during the second quarter. Fourth Sail Capital LP now owns 2,361,386 shares of the bank’s stock worth $21,843,000 after acquiring an additional 1,009,103 shares during the period. Truist Financial Corp acquired a new position in shares of Banco BBVA Argentina in the second quarter valued at approximately $167,000. SG Americas Securities LLC bought a new position in shares of Banco BBVA Argentina during the third quarter worth approximately $246,000. Finally, Deltec Asset Management LLC acquired a new stake in Banco BBVA Argentina during the 3rd quarter worth approximately $334,000.

Banco BBVA Argentina Company Profile

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.