BBVA Banco Frances SA (BFR) Sees Large Volume Increase
BBVA Banco Frances SA (NYSE:BFR) shares saw unusually-high trading volume on Tuesday . Approximately 94,460 shares traded hands during mid-day trading, a decline of 12% from the previous session’s volume of 107,438 shares.The stock last traded at $20.89 and had previously closed at $20.82.
BFR has been the subject of several recent analyst reports. Zacks Investment Research raised BBVA Banco Frances SA from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a report on Monday, March 21st. Credit Suisse Group AG initiated coverage on BBVA Banco Frances SA in a report on Tuesday, March 29th. They issued an “underperform” rating and a $21.00 price target for the company. Finally, Santander initiated coverage on BBVA Banco Frances SA in a report on Wednesday, March 23rd. They issued an “underperform” rating and a $21.00 price target for the company.
The company has a 50 day moving average price of $19.88 and a 200-day moving average price of $20.19. The stock has a market capitalization of $3.69 billion and a PE ratio of 13.8705.
A number of institutional investors have recently added to or reduced their stakes in the stock. Bank of Montreal Can increased its position in BBVA Banco Frances SA by 28.9% in the fourth quarter. Bank of Montreal Can now owns 1,159,217 shares of the company’s stock valued at $22,118,000 after buying an additional 259,717 shares during the last quarter. Schroder Investment Management Group purchased a new position in BBVA Banco Frances SA during the fourth quarter valued at $8,772,000. Morgan Stanley increased its position in BBVA Banco Frances SA by 19.0% in the fourth quarter. Morgan Stanley now owns 3,470,802 shares of the company’s stock valued at $66,223,000 after buying an additional 555,339 shares during the last quarter. Finally, Shell Asset Management Co. purchased a new position in BBVA Banco Frances SA during the fourth quarter valued at $1,285,000.
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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