BBVA Banco Frances SA (NYSE:BFR) shares dropped 2.5% during trading on Wednesday . The company traded as low as $20.92 and last traded at $20.93, with a volume of 60,251 shares changing hands. The stock had previously closed at $21.47.

BFR has been the topic of a number of research reports. Credit Suisse Group AG initiated 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 target price on the stock. Zacks Investment Research cut shares of BBVA Banco Frances SA from a “buy” rating to a “hold” rating in a report on Tuesday, April 19th. Finally, Santander initiated coverage on shares of BBVA Banco Frances SA in a report on Wednesday, March 23rd. They issued an “underperform” rating and a $21.00 price target on the stock.

The firm’s 50 day moving average price is $20.47 and its 200-day moving average price is $20.29. The stock has a market cap of $3.75 billion and a price-to-earnings ratio of 13.57.

Other hedge funds and institutional investors recently bought and sold shares of the company. Schroder Investment Management Group bought a new position in BBVA Banco Frances SA during the fourth quarter worth approximately $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 worth $22,118,000 after buying an additional 259,717 shares during the last quarter. 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 worth $66,223,000 after buying an additional 555,339 shares during the last quarter. Finally, Shell Asset Management Co. bought a new position in BBVA Banco Frances SA during the fourth quarter worth approximately $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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