BBVA Banco Frances SA (NYSE:BFR) shares shot up 2.8% during trading on Wednesday . The company traded as high as $21.00 and last traded at $20.85, with a volume of 57,735 shares changing hands. The stock had previously closed at $20.28.

A number of research firms have recently commented on BFR. Santander began coverage on shares of BBVA Banco Frances SA in a research report on Wednesday, March 23rd. They set an “underperform” rating and a $21.00 price target for the company. Zacks Investment Research lowered shares of BBVA Banco Frances SA from a “hold” rating to a “sell” rating in a research report on Thursday, May 26th. Finally, Credit Suisse Group AG began coverage on shares of BBVA Banco Frances SA in a research report on Tuesday, March 29th. They set an “underperform” rating and a $21.00 price target for the company.

The company’s 50-day moving average price is $20.24 and its 200-day moving average price is $20.24. The stock has a market capitalization of $3.78 billion and a PE ratio of 13.82.

Other hedge funds and institutional investors have added to or reduced their stakes in the company. Shell Asset Management Co. acquired a new position in BBVA Banco Frances SA during the fourth quarter valued at $1,285,000. Schroder Investment Management Group bought a new position in BBVA Banco Frances SA during the fourth quarter valued at $8,772,000. Bank of Montreal Can boosted 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. Finally, Morgan Stanley boosted 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.

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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