Banco BBVA Argentina (NYSE:BBAR) Reaches New 12-Month High – Time to Buy?

Banco BBVA Argentina S.A. (NYSE:BBAR)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $25.01 and last traded at $22.99, with a volume of 1906007 shares changing hands. The stock had previously closed at $23.27.

Analysts Set New Price Targets

BBAR has been the topic of several recent analyst reports. StockNews.com downgraded Banco BBVA Argentina from a “buy” rating to a “hold” rating in a report on Tuesday, December 24th. Morgan Stanley raised Banco BBVA Argentina from an “underweight” rating to an “overweight” rating and set a $27.00 price objective on the stock in a research note on Monday, December 16th.

Banco BBVA Argentina Stock Performance

The stock has a market capitalization of $4.70 billion, a price-to-earnings ratio of 11.97 and a beta of 1.42. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.99 and a quick ratio of 0.90. The stock has a 50-day moving average of $17.39 and a 200 day moving average of $12.75.

Institutional Investors Weigh In On Banco BBVA Argentina

Hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC increased its position in shares of Banco BBVA Argentina by 123.8% during the fourth quarter. GAMMA Investing LLC now owns 4,171 shares of the bank’s stock worth $79,000 after acquiring an additional 2,307 shares in the last quarter. XTX Topco Ltd acquired a new position in Banco BBVA Argentina in the 3rd quarter worth $136,000. Truist Financial Corp bought a new position in Banco BBVA Argentina during the 2nd quarter worth about $167,000. Point72 Asset Management L.P. lifted its holdings in shares of Banco BBVA Argentina by 72.8% in the third quarter. Point72 Asset Management L.P. now owns 43,200 shares of the bank’s stock valued at $448,000 after purchasing an additional 18,200 shares in the last quarter. Finally, GSA Capital Partners LLP acquired a new position in shares of Banco BBVA Argentina during the third quarter worth about $237,000.

About Banco BBVA Argentina

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.