Banco BBVA Argentina (NYSE:BBAR) Shares Gap Up – Here’s Why

Banco BBVA Argentina S.A. (NYSE:BBAR)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $21.77, but opened at $22.64. Banco BBVA Argentina shares last traded at $21.95, with a volume of 285,469 shares changing hands.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on BBAR. Morgan Stanley raised shares of Banco BBVA Argentina from an “underweight” rating to an “overweight” rating and set a $27.00 price objective for the company in a research note on Monday, December 16th. StockNews.com lowered 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 company has a market capitalization of $4.55 billion, a PE ratio of 11.59 and a beta of 1.42. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.90 and a current ratio of 0.99. The firm has a fifty day simple moving average of $17.01 and a 200 day simple moving average of $12.54.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC raised its stake in Banco BBVA Argentina by 123.8% in the fourth quarter. GAMMA Investing LLC now owns 4,171 shares of the bank’s stock worth $79,000 after buying an additional 2,307 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of Banco BBVA Argentina during the third quarter valued at about $136,000. Truist Financial Corp bought a new stake in shares of Banco BBVA Argentina in the 2nd quarter valued at about $167,000. GSA Capital Partners LLP bought a new position in shares of Banco BBVA Argentina during the 3rd quarter worth approximately $237,000. Finally, SG Americas Securities LLC purchased a new stake in Banco BBVA Argentina during the third quarter valued at approximately $246,000.

Banco BBVA Argentina Company Profile

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.