Verition Fund Management LLC Purchases New Stake in Banco BBVA Argentina S.A. (NYSE:BBAR)

Verition Fund Management LLC purchased a new stake in Banco BBVA Argentina S.A. (NYSE:BBARGet Rating) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 275,000 shares of the bank’s stock, valued at approximately $976,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Envestnet Asset Management Inc. raised its stake in Banco BBVA Argentina by 290.3% during the fourth quarter. Envestnet Asset Management Inc. now owns 74,982 shares of the bank’s stock worth $236,000 after acquiring an additional 55,770 shares in the last quarter. Sheaff Brock Investment Advisors LLC raised its stake in Banco BBVA Argentina by 11.3% during the first quarter. Sheaff Brock Investment Advisors LLC now owns 839,354 shares of the bank’s stock worth $2,980,000 after acquiring an additional 85,000 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its stake in Banco BBVA Argentina by 104.1% during the first quarter. Mercer Global Advisors Inc. ADV now owns 34,784 shares of the bank’s stock worth $123,000 after acquiring an additional 17,740 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Banco BBVA Argentina by 53,648.5% during the first quarter. JPMorgan Chase & Co. now owns 17,737 shares of the bank’s stock worth $63,000 after acquiring an additional 17,704 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake in Banco BBVA Argentina by 32.9% during the first quarter. Arrowstreet Capital Limited Partnership now owns 698,352 shares of the bank’s stock worth $2,479,000 after acquiring an additional 173,057 shares in the last quarter. Institutional investors and hedge funds own 2.03% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Banco BBVA Argentina from a “buy” rating to a “hold” rating in a research note on Monday.

Banco BBVA Argentina Stock Performance

NYSE:BBAR opened at $3.27 on Thursday. The stock has a market cap of $667.85 million, a P/E ratio of 2.60 and a beta of 1.39. The company has a current ratio of 0.72, a quick ratio of 0.76 and a debt-to-equity ratio of 0.09. The stock’s 50-day moving average is $2.84 and its 200-day moving average is $2.94. Banco BBVA Argentina S.A. has a 1-year low of $2.03 and a 1-year high of $4.48.

Banco BBVA Argentina Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Monday, September 26th will be issued a dividend of $0.0191 per share. This represents a $0.23 annualized dividend and a dividend yield of 7.00%. The ex-dividend date of this dividend is Friday, September 23rd. Banco BBVA Argentina’s dividend payout ratio (DPR) is currently 17.46%.

About Banco BBVA Argentina

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Banco BBVA Argentina SA provides various banking products and services to individuals and companies in Argentina. It provides retail banking products and services, such as checking and savings accounts, time deposits, credit cards, consumer and secured 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.

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Institutional Ownership by Quarter for Banco BBVA Argentina (NYSE:BBAR)

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