Banco BBVA Argentina (NYSE:BBAR) Reaches New 52-Week High – Time to Buy?

Shares of Banco BBVA Argentina S.A. (NYSE:BBAR) hit a new 52-week high during trading on Friday . The stock traded as high as $12.75 and last traded at $12.72, with a volume of 154220 shares traded. The stock had previously closed at $12.37.

Analyst Upgrades and Downgrades

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

Banco BBVA Argentina Trading Up 6.5 %

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 firm has a market capitalization of $2.69 billion, a P/E ratio of 8.34 and a beta of 1.50. The firm has a 50 day simple moving average of $10.98 and a two-hundred day simple moving average of $10.07.

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

Institutional Investors Weigh In On Banco BBVA Argentina

A number of institutional investors and hedge funds have recently modified their holdings of BBAR. Truist Financial Corp bought a new stake in Banco BBVA Argentina during the second quarter valued at $167,000. Quantbot Technologies LP increased its position 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 purchasing an additional 19,700 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Banco BBVA Argentina in the third quarter valued at approximately $246,000. Virtu Financial LLC bought a new stake in Banco BBVA Argentina during the first quarter valued at approximately $413,000. Finally, Rokos Capital Management LLP purchased a new position in Banco BBVA Argentina in the 1st quarter worth approximately $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.