Banco Bilbao Viscaya Argentaria (NYSE:BBVA) Hits New 12-Month High After Earnings Beat

Key Points

• Banco Bilbao Viscaya Argentaria's stock reached a new 12-month high of $16.74 after reporting quarterly earnings per share of $0.52, exceeding expectations by $0.04.
• Analysts have recently adjusted their ratings, with Wall Street Zen downgrading the stock from a "buy" to a "hold," while it still holds an average "Buy" rating overall.
• Institutional investors have increased their stakes, with several hedge funds raising their holdings in Banco Bilbao Viscaya Argentaria during the second quarter.

Banco Bilbao Viscaya Argentaria S.A. (NYSE:BBVA - Get Free Report)'s share price reached a new 52-week high during trading on Thursday following a better than expected earnings announcement. The company traded as high as $16.73 and last traded at $16.74, with a volume of 137477 shares trading hands. The stock had previously closed at $15.54.

The bank reported $0.52 earnings per share for the quarter, topping analysts' consensus estimates of $0.47 by $0.05. Banco Bilbao Viscaya Argentaria had a net margin of 29.17% and a return on equity of 18.02%. The firm had revenue of $10.30 billion for the quarter, compared to analyst estimates of $10.24 billion.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered shares of Banco Bilbao Viscaya Argentaria from a "buy" rating to a "hold" rating in a report on Saturday, July 12th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Financial Management Professionals Inc. lifted its position in shares of Banco Bilbao Viscaya Argentaria by 105.9% in the 2nd quarter. Financial Management Professionals Inc. now owns 1,845 shares of the bank's stock worth $28,000 after purchasing an additional 949 shares during the period. Alpine Bank Wealth Management acquired a new position in shares of Banco Bilbao Viscaya Argentaria in the 1st quarter worth approximately $29,000. Private Trust Co. NA lifted its position in shares of Banco Bilbao Viscaya Argentaria by 224.7% in the 1st quarter. Private Trust Co. NA now owns 2,607 shares of the bank's stock worth $36,000 after purchasing an additional 1,804 shares during the period. Cullen Frost Bankers Inc. acquired a new position in shares of Banco Bilbao Viscaya Argentaria in the 1st quarter worth approximately $46,000. Finally, Huntington National Bank lifted its position in shares of Banco Bilbao Viscaya Argentaria by 96.7% in the 4th quarter. Huntington National Bank now owns 3,616 shares of the bank's stock worth $35,000 after purchasing an additional 1,778 shares during the period. Institutional investors and hedge funds own 2.96% of the company's stock.

Banco Bilbao Viscaya Argentaria Trading Down 0.4%

The stock's 50-day moving average is $15.25 and its 200-day moving average is $13.93. The company has a market cap of $97.32 billion, a price-to-earnings ratio of 8.77, a P/E/G ratio of 1.31 and a beta of 1.12.

About Banco Bilbao Viscaya Argentaria

Banco Bilbao Vizcaya Argentaria, SA provides retail banking, wholesale banking, and asset management services in the United States, Spain, Mexico, Turkey, South America, and internationally. The company offers savings account, demand deposits, and time deposits; and loan products, such as residential mortgages, other households, credit card loans, loans to enterprises and public sector, as well as consumer finance.