BBVA Banco Frances SA (NYSE:BFR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Monday. The brokerage currently has a $23.00 target price on the stock. Zacks Investment Research’s price target points to a potential upside of 12.47% from the company’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. “
Shares of BBVA Banco Frances SA (NYSE:BFR) opened at 20.45 on Monday. The company has a 50 day moving average price of $19.92 and a 200-day moving average price of $20.20. The stock has a market cap of $3.66 billion, a P/E ratio of 12.91 and a beta of 1.19. BBVA Banco Frances SA has a 12 month low of $16.47 and a 12 month high of $25.35.
Institutional investors have recently made changes to their positions in the company. Dorsey Wright & Associates raised its position in shares of BBVA Banco Frances SA by 39.8% in the third quarter. Dorsey Wright & Associates now owns 42,165 shares of the company’s stock worth $839,000 after buying an additional 11,996 shares during the last quarter. Eqis Capital Management Inc. increased its stake in BBVA Banco Frances SA by 33.8% in the third quarter. Eqis Capital Management Inc. now owns 16,294 shares of the company’s stock worth $324,000 after buying an additional 4,114 shares during the period. Guggenheim Capital LLC increased its stake in BBVA Banco Frances SA by 1.5% in the second quarter. Guggenheim Capital LLC now owns 17,922 shares of the company’s stock worth $370,000 after buying an additional 266 shares during the period. KCG Holdings Inc. bought a new stake in BBVA Banco Frances SA during the second quarter worth approximately $412,000. Finally, Bienville Capital Management LLC increased its stake in BBVA Banco Frances SA by 8.2% in the second quarter. Bienville Capital Management LLC now owns 492,403 shares of the company’s stock worth $10,158,000 after buying an additional 37,198 shares during the period. Institutional investors own 6.06% of the company’s stock.
About BBVA Banco Frances SA
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.
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