Banco BBVA Argentina (NYSE:BBAR) Trading Down 4% – Here’s What Happened

Shares of Banco BBVA Argentina S.A. (NYSE:BBAR) dropped 4% during mid-day trading on Friday . The company traded as low as $21.66 and last traded at $21.82. Approximately 641,853 shares were traded during mid-day trading, a decline of 49% from the average daily volume of 1,262,912 shares. The stock had previously closed at $22.72.

Analyst Upgrades and Downgrades

BBAR has been the topic of several recent analyst reports. StockNews.com cut shares of Banco BBVA Argentina from a “buy” rating to a “hold” rating in a research report on Tuesday, December 24th. Morgan Stanley upgraded Banco BBVA Argentina from an “underweight” rating to an “overweight” rating and set a $27.00 price target on the stock in a report on Monday, December 16th.

Banco BBVA Argentina Price Performance

The firm has a market cap of $4.50 billion, a PE ratio of 11.51 and a beta of 1.42. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.99 and a quick ratio of 0.90. The business’s fifty day moving average is $18.57 and its 200-day moving average is $13.35.

Hedge Funds Weigh In On Banco BBVA Argentina

Several institutional investors have recently bought and sold shares of the company. Systrade AG bought a new position in Banco BBVA Argentina during the fourth quarter worth about $1,334,000. Redhawk Wealth Advisors Inc. purchased a new stake in Banco BBVA Argentina during the 4th quarter worth about $743,000. TT International Asset Management LTD bought a new position in Banco BBVA Argentina in the 4th quarter worth about $3,261,000. GAMMA Investing LLC grew its holdings in Banco BBVA Argentina by 123.8% during the 4th quarter. GAMMA Investing LLC now owns 4,171 shares of the bank’s stock valued at $79,000 after buying an additional 2,307 shares in the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of Banco BBVA Argentina in the third quarter worth about $506,000.

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.