BBVA Banco Frances SA (BFR) Stock Rating Upgraded by Zacks Investment Research
BBVA Banco Frances SA (NYSE:BFR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Monday. The firm presently has a $23.00 price objective on the stock. Zacks Investment Research’s target price suggests a potential upside of 14.20% from the company’s previous close.
According to Zacks, “Banco Frances del Rio de la Plata S.A. is a full-service banker for large corporations, middle market businesses and individuals. The Company operates approximately 74 branches in Argentina, 8 branches in Uruguay and a sibsidiary bank in the Cayman Islands. “
BBVA Banco Frances SA (NYSE:BFR) traded up 0.95% during midday trading on Monday, hitting $20.14. The stock had a trading volume of 53,292 shares. The company has a market cap of $3.60 billion, a PE ratio of 12.71 and a beta of 1.19. BBVA Banco Frances SA has a 52 week low of $16.47 and a 52 week high of $25.35. The stock’s 50 day moving average price is $19.92 and its 200-day moving average price is $20.19.
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Several institutional investors have recently made changes to their positions in BFR. Bank of Montreal Can bought a new position in shares of BBVA Banco Frances SA during the second quarter worth about $25,022,000. Bienville Capital Management LLC raised its position in shares of BBVA Banco Frances SA by 8.2% in the second quarter. Bienville Capital Management LLC now owns 492,403 shares of the company’s stock worth $10,158,000 after buying an additional 37,198 shares during the last quarter. Global X Management Co. LLC raised its position in shares of BBVA Banco Frances SA by 35.0% in the second quarter. Global X Management Co. LLC now owns 133,173 shares of the company’s stock worth $2,747,000 after buying an additional 34,522 shares during the last quarter. KCG Holdings Inc. bought a new position in shares of BBVA Banco Frances SA during the second quarter worth about $412,000. Finally, Dorsey Wright & Associates raised its position in shares of BBVA Banco Frances SA by 39.8% in the third quarter. Dorsey Wright & Associates now owns 42,165 shares of the company’s stock worth $839,000 after buying an additional 11,996 shares during the last quarter. Institutional investors own 6.06% of the company’s stock.
About BBVA Banco Frances SA
BBVA Banco Frances SA (the Bank) is a provider of financial services to large corporations, small and medium-size companies (SMEs), as well as individual customers. The Bank is focused on the financial sector, through its activities related to banking/financial, pension fund manager and insurance. The Bank has all its operations, property and customers located in Argentina.
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