Zacks Investment Research Upgrades BBVA Banco Frances (NYSE:BFR) to Buy

BBVA Banco Frances (NYSE:BFR) was upgraded by Zacks Investment Research from a “strong sell” rating to a “buy” rating in a note issued to investors on Wednesday, January 17th. The firm presently has a $30.00 price target on the bank’s stock. Zacks Investment Research‘s target price suggests a potential upside of 30.38% from the stock’s previous close.

According to Zacks, “Banco Frances del Rio de la Plata S.A. is a full-service banker for large corporations, middle market businesses and individuals. The Company operates approximately 74 branches in Argentina, 8 branches in Uruguay and a sibsidiary bank in the Cayman Islands. “

Several other analysts also recently commented on the stock. Citigroup raised shares of BBVA Banco Frances from a “neutral” rating to a “buy” rating in a report on Monday, November 27th. Santander downgraded shares of BBVA Banco Frances from a “buy” rating to a “hold” rating in a report on Wednesday, January 17th. Finally, TheStreet raised shares of BBVA Banco Frances from a “c+” rating to a “b” rating in a report on Thursday, December 21st. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. BBVA Banco Frances has an average rating of “Hold” and a consensus price target of $26.50.

Shares of BBVA Banco Frances (BFR) traded up $1.72 during trading on Wednesday, reaching $23.01. 212,415 shares of the company’s stock were exchanged, compared to its average volume of 292,232. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.04. BBVA Banco Frances has a twelve month low of $14.55 and a twelve month high of $27.45.

BBVA Banco Frances (NYSE:BFR) last issued its quarterly earnings results on Thursday, November 9th. The bank reported $0.32 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.32. research analysts forecast that BBVA Banco Frances will post 1.16 EPS for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of BFR. Schroder Investment Management Group lifted its holdings in BBVA Banco Frances by 520.7% during the third quarter. Schroder Investment Management Group now owns 5,094,188 shares of the bank’s stock valued at $99,897,000 after purchasing an additional 4,273,443 shares in the last quarter. Standard Life Aberdeen plc raised its position in shares of BBVA Banco Frances by 68.1% in the fourth quarter. Standard Life Aberdeen plc now owns 3,484,129 shares of the bank’s stock valued at $87,818,000 after buying an additional 1,411,171 shares during the last quarter. Thornburg Investment Management Inc. acquired a new stake in shares of BBVA Banco Frances in the third quarter valued at about $26,218,000. Bienville Capital Management LLC raised its position in shares of BBVA Banco Frances by 274.5% in the third quarter. Bienville Capital Management LLC now owns 818,605 shares of the bank’s stock valued at $16,691,000 after buying an additional 600,000 shares during the last quarter. Finally, Key Square Capital Management LLC acquired a new stake in shares of BBVA Banco Frances in the third quarter valued at about $8,666,000. 16.37% of the stock is currently owned by institutional investors and hedge funds.

COPYRIGHT VIOLATION WARNING: This news story was originally reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this news story on another website, it was copied illegally and republished in violation of US and international trademark and copyright legislation. The original version of this news story can be accessed at https://www.dispatchtribunal.com/2018/02/12/bbva-banco-frances-bfr-rating-increased-to-buy-at-zacks-investment-research.html.

About BBVA Banco Frances

BBVA Banco Frances SA (the Bank) is a provider of financial services to large corporations, small and medium-size companies (SMEs), as well as individual customers. The Bank is focused on the financial sector, through its activities related to banking/financial, pension fund manager and insurance. The Bank has all its operations, property and customers located in Argentina.

Get a free copy of the Zacks research report on BBVA Banco Frances (BFR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for BBVA Banco Frances Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BBVA Banco Frances and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply