Banco BBVA Argentina S.A. (NYSE:BBAR) Sees Significant Drop in Short Interest

Banco BBVA Argentina S.A. (NYSE:BBAR) saw a large drop in short interest in March. As of March 15th, there was short interest totalling 960,700 shares, a drop of 17.9% from the February 28th total of 1,170,000 shares. Based on an average trading volume of 827,800 shares, the days-to-cover ratio is currently 1.2 days. Approximately 0.5% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

BBAR has been the topic of several research reports. Morgan Stanley raised Banco BBVA Argentina from an “underweight” rating to an “overweight” rating and set a $27.00 price target on the stock in a research report on Monday, December 16th. StockNews.com cut shares of Banco BBVA Argentina from a “buy” rating to a “hold” rating in a report on Tuesday, December 24th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quantbot Technologies LP increased its position in Banco BBVA Argentina by 694.6% in the third quarter. Quantbot Technologies LP now owns 27,612 shares of the bank’s stock worth $286,000 after buying an additional 24,137 shares during the period. Benjamin Edwards Inc. acquired a new stake in shares of Banco BBVA Argentina in the 3rd quarter worth about $293,000. PointState Capital LP lifted its position in Banco BBVA Argentina by 14.2% in the 3rd quarter. PointState Capital LP now owns 1,664,893 shares of the bank’s stock valued at $17,265,000 after purchasing an additional 206,399 shares during the last quarter. Point72 Asset Management L.P. boosted its stake 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 valued at $448,000 after purchasing an additional 18,200 shares during the period. Finally, XTX Topco Ltd bought a new position in Banco BBVA Argentina in the 3rd quarter worth about $136,000.

Banco BBVA Argentina Stock Performance

BBAR stock traded up $0.16 during midday trading on Wednesday, reaching $18.51. The company had a trading volume of 163,867 shares, compared to its average volume of 822,517. The firm has a market capitalization of $3.78 billion, a PE ratio of 9.64 and a beta of 1.41. The stock has a 50 day moving average price of $19.75 and a 200 day moving average price of $17.29. Banco BBVA Argentina has a fifty-two week low of $7.05 and a fifty-two week high of $25.01. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.09.

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.