Banco BBVA Argentina (NYSE:BBAR) Sets New 12-Month High – Here’s Why

Banco BBVA Argentina S.A. (NYSE:BBAR) shares reached a new 52-week high on Wednesday . The company traded as high as $25.01 and last traded at $22.99, with a volume of 1906007 shares changing hands. The stock had previously closed at $23.27.

Analyst Ratings Changes

A number of brokerages have recently commented on BBAR. Morgan Stanley raised Banco BBVA Argentina from an “underweight” rating to an “overweight” rating and set a $27.00 price target on the stock in a research note on Monday, December 16th. StockNews.com downgraded shares of Banco BBVA Argentina from a “buy” rating to a “hold” rating in a research note on Tuesday, December 24th.

Banco BBVA Argentina Price Performance

The stock has a market capitalization of $4.59 billion, a P/E ratio of 11.70 and a beta of 1.42. The business’s 50 day simple moving average is $17.74 and its two-hundred day simple moving average is $12.88. The company has a quick ratio of 0.90, a current ratio of 0.99 and a debt-to-equity ratio of 0.09.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its holdings in shares of Banco BBVA Argentina by 123.8% in the 4th quarter. GAMMA Investing LLC now owns 4,171 shares of the bank’s stock worth $79,000 after buying an additional 2,307 shares during the last quarter. XTX Topco Ltd bought a new stake in Banco BBVA Argentina in the third quarter worth about $136,000. Truist Financial Corp purchased a new position in Banco BBVA Argentina in the second quarter valued at about $167,000. GSA Capital Partners LLP bought a new position in shares of Banco BBVA Argentina during the 3rd quarter valued at approximately $237,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Banco BBVA Argentina during 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.