BBVA Banco Frances (NYSE:BBAR) Issues Quarterly Earnings Results

BBVA Banco Frances (NYSE:BBAR) released its earnings results on Thursday. The bank reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.01), FiscalAI reports. BBVA Banco Frances had a return on equity of 6.27% and a net margin of 3.44%.The company had revenue of $690.78 million for the quarter, compared to analysts’ expectations of $738.77 million.

BBVA Banco Frances Stock Down 2.1%

BBAR stock traded down $0.31 during midday trading on Thursday, reaching $14.61. 661,684 shares of the company were exchanged, compared to its average volume of 693,125. The company has a market cap of $2.98 billion, a price-to-earnings ratio of 17.81 and a beta of 1.02. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.10 and a current ratio of 1.10. BBVA Banco Frances has a 1-year low of $7.76 and a 1-year high of $22.47. The stock’s 50-day simple moving average is $18.44 and its 200 day simple moving average is $16.82.

BBVA Banco Frances Announces Dividend

The business also recently disclosed a monthly dividend, which was paid on Thursday, June 18th. Shareholders of record on Friday, June 12th were issued a dividend of $0.0131 per share. The ex-dividend date of this dividend was Friday, June 12th. This represents a c) dividend on an annualized basis and a yield of 1.1%. BBVA Banco Frances’s dividend payout ratio (DPR) is presently 102.44%.

Institutional Investors Weigh In On BBVA Banco Frances

Hedge funds and other institutional investors have recently bought and sold shares of the stock. NewEdge Advisors LLC lifted its position in BBVA Banco Frances by 66.2% in the first quarter. NewEdge Advisors LLC now owns 24,523 shares of the bank’s stock valued at $444,000 after acquiring an additional 9,764 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of BBVA Banco Frances by 17.1% during the first quarter. Goldman Sachs Group Inc. now owns 93,265 shares of the bank’s stock worth $1,690,000 after purchasing an additional 13,594 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of BBVA Banco Frances by 171.8% during the second quarter. JPMorgan Chase & Co. now owns 177,455 shares of the bank’s stock worth $2,921,000 after purchasing an additional 112,161 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of BBVA Banco Frances by 9.8% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,021,521 shares of the bank’s stock valued at $33,274,000 after purchasing an additional 180,137 shares during the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of BBVA Banco Frances by 229.9% in the 2nd quarter. Bank of America Corp DE now owns 60,156 shares of the bank’s stock valued at $990,000 after purchasing an additional 41,920 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Wall Street Zen upgraded BBVA Banco Frances from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. Weiss Ratings reiterated a “hold (c-)” rating on shares of BBVA Banco Frances in a report on Tuesday, July 14th. Finally, UBS Group lifted their target price on BBVA Banco Frances from $18.00 to $20.00 and gave the company a “neutral” rating in a research report on Friday, July 10th. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $18.50.

BBVA Banco Frances Company Profile

BBVA Banco Francés is one of Argentina’s leading financial institutions, operating as a subsidiary of the global banking group BBVA. The bank provides a full range of retail and commercial banking services to individuals, small and medium‐sized enterprises, large corporations and institutional clients. Its product suite spans deposit accounts, mortgages, personal and auto loans, credit and debit cards, transactional banking and digital solutions designed to meet the evolving needs of customers in both urban and regional markets.

Founded in Buenos Aires in the late 19th century, Banco Francés has developed a longstanding presence in Argentina’s financial sector.