Banco BBVA Argentina (NYSE:BBAR) Raised to Overweight at Morgan Stanley

Banco BBVA Argentina (NYSE:BBAR) was upgraded by investment analysts at Morgan Stanley from an “underweight” rating to an “overweight” rating in a research report issued on Monday, MarketBeat.com reports. The firm presently has a $27.00 price objective on the bank’s stock. Morgan Stanley’s target price indicates a potential upside of 56.79% from the company’s current price.

Separately, StockNews.com cut Banco BBVA Argentina from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th.

Banco BBVA Argentina Stock Performance

Shares of Banco BBVA Argentina stock opened at $17.22 on Monday. The company has a current ratio of 0.99, a quick ratio of 0.90 and a debt-to-equity ratio of 0.09. The business’s 50 day moving average price is $14.77 and its 200 day moving average price is $11.62. Banco BBVA Argentina has a one year low of $4.63 and a one year high of $18.24.

Hedge Funds Weigh In On Banco BBVA Argentina

Several large investors have recently made changes to their positions in BBAR. Fourth Sail Capital LP raised its position in Banco BBVA Argentina by 74.6% in the second quarter. Fourth Sail Capital LP now owns 2,361,386 shares of the bank’s stock valued at $21,843,000 after purchasing an additional 1,009,103 shares during the period. PointState Capital LP grew its position in Banco BBVA Argentina by 14.2% in the 3rd quarter. PointState Capital LP now owns 1,664,893 shares of the bank’s stock valued at $17,265,000 after acquiring an additional 206,399 shares in the last quarter. Ping Capital Management Inc. purchased a new stake in Banco BBVA Argentina during the second quarter worth about $11,293,000. Sagil Capital LLP acquired a new stake in shares of Banco BBVA Argentina during the third quarter worth about $2,131,000. Finally, Mirabella Financial Services LLP purchased a new position in shares of Banco BBVA Argentina in the third quarter valued at approximately $1,155,000.

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.