BBVA Banco Frances S.A. (BFR) Upgraded to “Hold” by Zacks Investment Research
BBVA Banco Frances S.A. (NYSE:BFR) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Monday.
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. “
Separately, Credit Suisse Group AG reaffirmed a “sell” rating and set a $21.50 price objective on shares of BBVA Banco Frances in a research note on Monday, February 13th.
Shares of BBVA Banco Frances (NYSE:BFR) traded down 0.86% on Monday, hitting $17.31. 270,912 shares of the company were exchanged. BBVA Banco Frances has a 52-week low of $16.20 and a 52-week high of $21.96. The stock has a market capitalization of $3.10 billion, a PE ratio of 13.17 and a beta of 0.97. The firm’s 50-day moving average is $18.27 and its 200-day moving average is $18.07.
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Several hedge funds have recently bought and sold shares of the stock. Itau Unibanco Holding S.A. purchased a new stake in BBVA Banco Frances during the third quarter valued at $257,000. Comerica Bank purchased a new stake in BBVA Banco Frances during the fourth quarter valued at $183,000. Oxford Asset Management boosted its stake in BBVA Banco Frances by 162.1% in the fourth quarter. Oxford Asset Management now owns 160,000 shares of the bank’s stock valued at $2,789,000 after buying an additional 98,948 shares during the period. Franklin Resources Inc. boosted its stake in BBVA Banco Frances by 198.5% in the fourth quarter. Franklin Resources Inc. now owns 999,130 shares of the bank’s stock valued at $17,415,000 after buying an additional 664,410 shares during the period. Finally, Bienville Capital Management LLC boosted its stake in BBVA Banco Frances by 9.2% in the fourth quarter. Bienville Capital Management LLC now owns 535,100 shares of the bank’s stock valued at $9,327,000 after buying an additional 45,167 shares during the period. 6.01% of the stock is owned by institutional investors and hedge funds.
About BBVA Banco Frances
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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