BBVA Banco Frances (BFR) Lifted to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of BBVA Banco Frances (NYSE:BFR) from a strong sell rating to a buy rating in a research report report published on Wednesday morning. The firm currently has $30.00 price objective on the bank’s stock.

According to Zacks, “Banco Frances del Rio de la Plata S.A. is a full-service banker for large corporations, middle market businesses and individuals. The Company operates approximately 74 branches in Argentina, 8 branches in Uruguay and a sibsidiary bank in the Cayman Islands. “

Several other equities research analysts have also recently issued reports on BFR. Citigroup upgraded shares of BBVA Banco Frances from a neutral rating to a buy rating in a research report on Monday, November 27th. TheStreet upgraded shares of BBVA Banco Frances from a c+ rating to a b rating in a research report on Thursday, December 21st. Finally, Santander cut shares of BBVA Banco Frances from a buy rating to a hold rating in a research report on Wednesday. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $26.50.

Shares of BBVA Banco Frances (NYSE:BFR) opened at $25.74 on Wednesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.22 and a current ratio of 1.22. BBVA Banco Frances has a 12-month low of $14.55 and a 12-month high of $27.45.

BBVA Banco Frances (NYSE:BFR) last released its quarterly earnings data on Thursday, November 9th. The bank reported $0.32 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.32. sell-side analysts forecast that BBVA Banco Frances will post 1.16 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in BFR. Wells Fargo & Company MN increased its position in shares of BBVA Banco Frances by 2.4% during the second quarter. Wells Fargo & Company MN now owns 12,018 shares of the bank’s stock valued at $227,000 after acquiring an additional 277 shares during the last quarter. Fisher Asset Management LLC increased its position in shares of BBVA Banco Frances by 12.3% during the third quarter. Fisher Asset Management LLC now owns 22,947 shares of the bank’s stock valued at $468,000 after acquiring an additional 2,506 shares during the last quarter. State of New Jersey Common Pension Fund D acquired a new stake in shares of BBVA Banco Frances during the third quarter valued at about $1,269,000. Deltec Asset Management LLC increased its position in shares of BBVA Banco Frances by 65.2% during the third quarter. Deltec Asset Management LLC now owns 94,140 shares of the bank’s stock valued at $1,920,000 after acquiring an additional 37,140 shares during the last quarter. Finally, DSAM Partners London Ltd acquired a new stake in shares of BBVA Banco Frances during the third quarter valued at about $3,713,000. Institutional investors and hedge funds own 16.02% of the company’s stock.

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BBVA Banco Frances Company Profile

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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