Banco Bilbao Viscaya Argentaria (NYSE:BBVA) Hits New 12-Month High on Better-Than-Expected Earnings

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.

Shares of Banco Bilbao Viscaya Argentaria S.A. (NYSE:BBVA - Get Free Report) reached a new 52-week high 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. The stock had previously closed at $15.54.

The bank reported $0.52 EPS for the quarter, topping the consensus estimate of $0.47 by $0.05. Banco Bilbao Viscaya Argentaria had a return on equity of 18.02% and a net margin of 29.17%. The business had revenue of $10.30 billion for the quarter, compared to the consensus estimate of $10.24 billion.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Banco Bilbao Viscaya Argentaria

Several institutional investors have recently added to or reduced their stakes in BBVA. Private Trust Co. NA lifted its stake 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 valued at $36,000 after purchasing an additional 1,804 shares during the last quarter. Bessemer Group Inc. lifted its stake in shares of Banco Bilbao Viscaya Argentaria by 25.3% during the 1st quarter. Bessemer Group Inc. now owns 3,901 shares of the bank's stock worth $53,000 after acquiring an additional 787 shares during the last quarter. Elevation Point Wealth Partners LLC bought a new stake in shares of Banco Bilbao Viscaya Argentaria during the 1st quarter worth approximately $209,000. LPL Financial LLC lifted its stake in shares of Banco Bilbao Viscaya Argentaria by 189.4% during the 4th quarter. LPL Financial LLC now owns 397,979 shares of the bank's stock worth $3,868,000 after acquiring an additional 260,472 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Banco Bilbao Viscaya Argentaria by 48.5% during the 1st quarter. GAMMA Investing LLC now owns 16,135 shares of the bank's stock worth $220,000 after acquiring an additional 5,269 shares during the last quarter. Hedge funds and other institutional investors own 2.96% of the company's stock.

Banco Bilbao Viscaya Argentaria Trading Up 2.4%

The stock has a market capitalization of $99.62 billion, a P/E ratio of 8.98, a price-to-earnings-growth ratio of 1.31 and a beta of 1.12. The stock has a 50 day moving average of $15.25 and a 200-day moving average of $13.97.

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.