Ping Capital Management Inc. Has $8.74 Million Position in BBVA Banco Frances S.A. $BBAR

Ping Capital Management Inc. boosted its stake in BBVA Banco Frances S.A. (NYSE:BBAR) by 40.8% during the third quarter, Holdings Channel reports. The institutional investor owned 1,050,500 shares of the bank’s stock after buying an additional 304,600 shares during the period. BBVA Banco Frances comprises approximately 3.0% of Ping Capital Management Inc.’s investment portfolio, making the stock its 6th biggest position. Ping Capital Management Inc.’s holdings in BBVA Banco Frances were worth $8,740,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. SBI Securities Co. Ltd. boosted its holdings in shares of BBVA Banco Frances by 199.9% during the second quarter. SBI Securities Co. Ltd. now owns 2,381 shares of the bank’s stock worth $39,000 after acquiring an additional 1,587 shares during the period. Y Intercept Hong Kong Ltd bought a new position in shares of BBVA Banco Frances during the third quarter worth approximately $108,000. BNP Paribas Financial Markets lifted its holdings in BBVA Banco Frances by 123.3% during the 2nd quarter. BNP Paribas Financial Markets now owns 15,301 shares of the bank’s stock worth $252,000 after purchasing an additional 8,450 shares during the last quarter. NewEdge Advisors LLC boosted its stake in BBVA Banco Frances by 66.2% in the 1st quarter. NewEdge Advisors LLC now owns 24,523 shares of the bank’s stock valued at $444,000 after purchasing an additional 9,764 shares during the period. Finally, Channing Global Advisors LLC acquired a new position in BBVA Banco Frances in the 2nd quarter valued at $419,000.

BBVA Banco Frances Trading Up 4.0%

Shares of BBVA Banco Frances stock opened at $19.38 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.32. BBVA Banco Frances S.A. has a 12-month low of $7.76 and a 12-month high of $23.62. The company has a market capitalization of $3.96 billion, a price-to-earnings ratio of 20.40 and a beta of 1.08. The firm’s 50-day moving average price is $17.19 and its two-hundred day moving average price is $14.39.

BBVA Banco Frances (NYSE:BBAR) last issued its earnings results on Tuesday, November 25th. The bank reported $0.13 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.07). BBVA Banco Frances had a net margin of 4.46% and a return on equity of 7.43%. The firm had revenue of $865.83 million during the quarter, compared to analyst estimates of $871.10 billion. On average, analysts forecast that BBVA Banco Frances S.A. will post 1.94 earnings per share for the current fiscal year.

BBVA Banco Frances Increases Dividend

The firm also recently announced a monthly dividend, which was paid on Tuesday, December 23rd. Shareholders of record on Tuesday, December 16th were paid a dividend of $0.0331 per share. The ex-dividend date was Tuesday, December 16th. This is a boost from BBVA Banco Frances’s previous monthly dividend of $0.03. This represents a c) annualized dividend and a yield of 2.1%. BBVA Banco Frances’s dividend payout ratio is currently 41.05%.

Analysts Set New Price Targets

BBAR has been the subject of a number of research reports. Hsbc Global Res raised BBVA Banco Frances to a “strong-buy” rating in a report on Wednesday, October 1st. Zacks Research upgraded shares of BBVA Banco Frances from a “strong sell” rating to a “hold” rating in a research note on Monday, November 3rd. Itau BBA Securities raised shares of BBVA Banco Frances from a “market perform” rating to an “outperform” rating in a report on Monday, October 27th. HSBC raised shares of BBVA Banco Frances from a “hold” rating to a “buy” rating and lowered their target price for the stock from $21.00 to $17.00 in a report on Wednesday, October 1st. Finally, UBS Group started coverage on BBVA Banco Frances in a research note on Wednesday, November 19th. They issued a “hold” rating and a $18.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, BBVA Banco Frances presently has an average rating of “Moderate Buy” and a consensus price target of $17.67.

BBVA Banco Frances Company Profile

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.