Zacks Investment Research downgraded shares of BBVA Banco Frances S.A. (NYSE:BFR) from a hold rating to a strong sell rating in a research note published on Monday morning.

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. “

BFR has been the topic of a number of other research reports. BidaskClub raised BBVA Banco Frances from a strong sell rating to a sell rating in a research note on Monday, August 14th. Credit Suisse Group set a $23.00 price objective on BBVA Banco Frances and gave the stock a buy rating in a research note on Friday, August 11th. Finally, Santander raised BBVA Banco Frances from a hold rating to a buy rating in a research note on Friday, September 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $23.00.

Shares of BBVA Banco Frances (NYSE BFR) opened at $21.62 on Monday. The company has a quick ratio of 1.26, a current ratio of 1.22 and a debt-to-equity ratio of 0.18. BBVA Banco Frances has a 12 month low of $14.55 and a 12 month high of $22.73. The stock has a market capitalization of $3,869.09, a P/E ratio of 11.75 and a beta of 0.57.

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Several hedge funds and other institutional investors have recently added to or reduced their stakes in BFR. Renaissance Technologies LLC increased its position in shares of BBVA Banco Frances by 122.0% during the 1st quarter. Renaissance Technologies LLC now owns 177,876 shares of the bank’s stock valued at $3,276,000 after purchasing an additional 97,760 shares during the last quarter. Fisher Asset Management LLC increased its position in shares of BBVA Banco Frances by 66.2% during the 2nd quarter. Fisher Asset Management LLC now owns 20,441 shares of the bank’s stock valued at $387,000 after purchasing an additional 8,141 shares during the last quarter. Deltec Asset Management LLC bought a new position in shares of BBVA Banco Frances during the 2nd quarter valued at approximately $1,079,000. Global X Management Co. LLC increased its position in shares of BBVA Banco Frances by 22.6% during the 2nd quarter. Global X Management Co. LLC now owns 219,388 shares of the bank’s stock valued at $4,153,000 after purchasing an additional 40,377 shares during the last quarter. Finally, INCA Investments LLC bought a new position in shares of BBVA Banco Frances during the 2nd quarter valued at approximately $4,559,000. 9.64% of the stock is currently owned by hedge funds and other institutional investors.

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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