BBVA Banco Frances (NYSE:BBAR) Shares Up 8.5% After Better-Than-Expected Earnings

BBVA Banco Frances S.A. (NYSE:BBAR) was up 8.5% during mid-day trading on Wednesday following a stronger than expected earnings report. The stock traded as high as $18.25 and last traded at $18.0650. Approximately 952,500 shares changed hands during trading, an increase of 39% from the average daily volume of 686,926 shares. The stock had previously closed at $16.65.

The bank reported $0.28 earnings per share (EPS) for the quarter. BBVA Banco Frances had a return on equity of 6.55% and a net margin of 3.70%.The business had revenue of $822.07 million during the quarter.

BBVA Banco Frances Increases Dividend

The business also recently disclosed a monthly dividend, which was paid on Monday, April 27th. Shareholders of record on Monday, April 20th were given a $0.0382 dividend. This represents a c) annualized dividend and a yield of 2.6%. This is a boost from BBVA Banco Frances’s previous monthly dividend of $0.04. The ex-dividend date of this dividend was Monday, April 20th. BBVA Banco Frances’s dividend payout ratio is 54.22%.

Hedge Funds Weigh In On BBVA Banco Frances

Several hedge funds and other institutional investors have recently bought and sold shares of BBAR. PointState Capital LP boosted its holdings in BBVA Banco Frances by 60.5% in the 4th quarter. PointState Capital LP now owns 2,668,038 shares of the bank’s stock worth $48,211,000 after acquiring an additional 1,005,978 shares during the period. Millennium Management LLC lifted its position in shares of BBVA Banco Frances by 3,633.8% during the fourth quarter. Millennium Management LLC now owns 613,832 shares of the bank’s stock worth $11,092,000 after purchasing an additional 597,392 shares in the last quarter. Aquamarine Financial Cayman Ltd grew its holdings in BBVA Banco Frances by 103.8% during the 4th quarter. Aquamarine Financial Cayman Ltd now owns 1,141,305 shares of the bank’s stock valued at $20,623,000 after purchasing an additional 581,305 shares in the last quarter. Alpine Global Management LLC purchased a new stake in BBVA Banco Frances during the 4th quarter worth $4,042,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in 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 buying an additional 180,137 shares during the last quarter.

BBVA Banco Frances Stock Up 7.8%

The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.17. The firm has a 50 day moving average price of $15.11 and a two-hundred day moving average price of $16.29. The company has a market capitalization of $3.67 billion, a price-to-earnings ratio of 21.67 and a beta of 0.92.

About BBVA Banco Frances

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.