BBVA Banco Frances (BFR) Shares Up 9%
BBVA Banco Frances S.A. (NYSE:BFR) shares shot up 9% on Tuesday . The company traded as high as $9.29 and last traded at $9.23. 2,110,521 shares were traded during mid-day trading, an increase of 262% from the average session volume of 582,406 shares. The stock had previously closed at $8.47.
A number of research firms have weighed in on BFR. Zacks Investment Research downgraded BBVA Banco Frances from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 6th. ValuEngine downgraded BBVA Banco Frances from a “sell” rating to a “strong sell” rating in a research note on Friday, February 15th. HSBC upgraded BBVA Banco Frances from a “hold” rating to a “buy” rating in a research note on Thursday, April 25th. Finally, Santander upgraded BBVA Banco Frances from a “hold” rating to a “buy” rating in a research note on Friday, March 15th. One research analyst has rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company. BBVA Banco Frances currently has an average rating of “Hold” and a consensus target price of $13.00.
The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $1.88 billion, a P/E ratio of -48.53 and a beta of 0.25.
The firm also recently announced an annual dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Wednesday, May 15th will be paid a dividend of $0.2651 per share. This is an increase from BBVA Banco Frances’s previous annual dividend of $0.21. This represents a dividend yield of 3.04%. The ex-dividend date is Tuesday, May 14th. BBVA Banco Frances’s payout ratio is currently -136.84%.
Several hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC boosted its stake in shares of BBVA Banco Frances by 16.4% during the 1st quarter. FMR LLC now owns 214,546 shares of the bank’s stock worth $2,040,000 after acquiring an additional 30,293 shares during the period. BlueCrest Capital Management Ltd bought a new position in shares of BBVA Banco Frances during the 1st quarter worth approximately $561,000. Morgan Stanley boosted its stake in shares of BBVA Banco Frances by 62.5% during the 1st quarter. Morgan Stanley now owns 155,132 shares of the bank’s stock worth $1,474,000 after acquiring an additional 59,692 shares during the period. ExodusPoint Capital Management LP bought a new position in shares of BBVA Banco Frances during the 1st quarter worth approximately $601,000. Finally, Ellington Management Group LLC boosted its stake in shares of BBVA Banco Frances by 21.0% during the 1st quarter. Ellington Management Group LLC now owns 21,800 shares of the bank’s stock worth $207,000 after acquiring an additional 3,789 shares during the period. Institutional investors own 14.23% of the company’s stock.
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About BBVA Banco Frances (NYSE:BFR)
BBVA Banco Francés SA, together with its subsidiaries, provides financial services to small and medium enterprises, and individual customers in Spain, Mexico, South America, the United States, Turkey, and rest of Eurasia. The company offers current, checking, and savings accounts, as well as demand and time deposits.
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