Banco BBVA Argentina (NYSE:BBAR) Hits New 52-Week High – Time to Buy?

Banco BBVA Argentina S.A. (NYSE:BBAR)’s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $20.52 and last traded at $20.35, with a volume of 245049 shares traded. The stock had previously closed at $19.06.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on BBAR. Morgan Stanley upgraded shares of Banco BBVA Argentina from an “underweight” rating to an “overweight” rating and set a $27.00 price objective for the company in a research note on Monday, December 16th. StockNews.com cut shares of Banco BBVA Argentina from a “buy” rating to a “hold” rating in a research note on Tuesday, December 24th.

Banco BBVA Argentina Stock Performance

The stock has a fifty day moving average price of $16.65 and a 200-day moving average price of $12.38. The company has a current ratio of 0.99, a quick ratio of 0.90 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $4.14 billion, a price-to-earnings ratio of 10.56 and a beta of 1.49.

Hedge Funds Weigh In On Banco BBVA Argentina

Institutional investors have recently added to or reduced their stakes in the company. GSA Capital Partners LLP bought a new position in shares of Banco BBVA Argentina in the third quarter valued at approximately $237,000. Truist Financial Corp acquired a new stake in shares of Banco BBVA Argentina in the second quarter valued at $167,000. SG Americas Securities LLC acquired a new stake in Banco BBVA Argentina in the 3rd quarter valued at about $246,000. Fourth Sail Capital LP grew its stake in shares of Banco BBVA Argentina by 74.6% during the second quarter. Fourth Sail Capital LP now owns 2,361,386 shares of the bank’s stock valued at $21,843,000 after purchasing an additional 1,009,103 shares during the last quarter. Finally, Point72 Asset Management L.P. lifted its holdings in Banco BBVA Argentina by 72.8% during the 3rd quarter. Point72 Asset Management L.P. now owns 43,200 shares of the bank’s stock worth $448,000 after buying an additional 18,200 shares in the last quarter.

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.