BBVA Banco Frances (NYSE:BFR) Downgraded to “Strong Sell” at Zacks Investment Research

BBVA Banco Frances (NYSE:BFR) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report issued on Monday, November 20th.

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. “

A number of other brokerages have also commented on BFR. Credit Suisse Group set a $23.00 price target on BBVA Banco Frances and gave the company a “buy” rating in a research note on Friday, August 11th. Santander raised BBVA Banco Frances from a “hold” rating to a “buy” rating in a research note on Friday, September 8th. Finally, BidaskClub upgraded BBVA Banco Frances from a “sell” rating to a “hold” rating in a research report on Friday, August 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $23.00.

BBVA Banco Frances (NYSE:BFR) traded up $0.32 on Monday, hitting $22.05. The stock had a trading volume of 127,448 shares, compared to its average volume of 348,665. The firm has a market cap of $4,380.00, a price-to-earnings ratio of 11.42 and a beta of 0.55. BBVA Banco Frances has a 12 month low of $14.55 and a 12 month high of $22.75. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.04.

A number of hedge funds have recently modified their holdings of BFR. Quantbot Technologies LP bought a new stake in BBVA Banco Frances in the third quarter worth approximately $102,000. Comerica Bank bought a new stake in BBVA Banco Frances in the third quarter worth approximately $211,000. Wells Fargo & Company MN increased its holdings in BBVA Banco Frances by 2.4% in the second quarter. Wells Fargo & Company MN now owns 12,018 shares of the bank’s stock worth $227,000 after purchasing an additional 277 shares in the last quarter. Fisher Asset Management LLC increased its holdings in BBVA Banco Frances by 66.2% in the second quarter. Fisher Asset Management LLC now owns 20,441 shares of the bank’s stock worth $387,000 after purchasing an additional 8,141 shares in the last quarter. Finally, William Blair Investment Management LLC bought a new stake in BBVA Banco Frances in the second quarter worth approximately $843,000. Institutional investors and hedge funds own 16.02% of the company’s stock.

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About BBVA Banco Frances

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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