Banco Bilbao Viscaya Argentaria S.A. (NYSE:BBVA) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Key Points

• Connor Clark & Lunn Investment Management Ltd. sold 35.8% of its shares in Banco Bilbao Viscaya Argentaria, bringing its holdings down to 135,198 shares worth approximately $1.84 million.
• Banco Bilbao Viscaya Argentaria reported higher-than-expected quarterly earnings of $0.52 per share, exceeding analysts' estimates of $0.47, with revenue of $10.30 billion.
• Several analysts have changed their ratings on the stock, with Barclays upgrading it from "equal weight" to "overweight," while Wall Street Zen downgraded it from "buy" to "hold."

Connor Clark & Lunn Investment Management Ltd. decreased its position in shares of Banco Bilbao Viscaya Argentaria S.A. (NYSE:BBVA - Free Report) by 35.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 135,198 shares of the bank's stock after selling 75,318 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.'s holdings in Banco Bilbao Viscaya Argentaria were worth $1,841,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Alpine Bank Wealth Management acquired a new position in shares of Banco Bilbao Viscaya Argentaria during the 1st quarter valued at about $29,000. Private Trust Co. NA boosted its position in shares of Banco Bilbao Viscaya Argentaria by 224.7% during the 1st quarter. Private Trust Co. NA now owns 2,607 shares of the bank's stock valued at $36,000 after acquiring an additional 1,804 shares during the last quarter. Cullen Frost Bankers Inc. purchased a new stake in Banco Bilbao Viscaya Argentaria in the 1st quarter valued at about $46,000. Bessemer Group Inc. raised its holdings in Banco Bilbao Viscaya Argentaria by 25.3% in the 1st quarter. Bessemer Group Inc. now owns 3,901 shares of the bank's stock valued at $53,000 after buying an additional 787 shares during the period. Finally, Manchester Capital Management LLC raised its holdings in Banco Bilbao Viscaya Argentaria by 19.2% in the 1st quarter. Manchester Capital Management LLC now owns 4,643 shares of the bank's stock valued at $63,000 after buying an additional 748 shares during the period. Institutional investors and hedge funds own 2.96% of the company's stock.

Banco Bilbao Viscaya Argentaria Stock Up 0.9%

Shares of NYSE:BBVA opened at $19.23 on Friday. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market capitalization of $112.26 billion, a PE ratio of 10.12, a price-to-earnings-growth ratio of 1.49 and a beta of 1.12. The firm's 50-day moving average is $15.88 and its two-hundred day moving average is $14.43. Banco Bilbao Viscaya Argentaria S.A. has a 1 year low of $9.23 and a 1 year high of $19.39.

Banco Bilbao Viscaya Argentaria (NYSE:BBVA - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The bank reported $0.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.47 by $0.05. The company had revenue of $10.30 billion for the quarter, compared to analyst estimates of $10.24 billion. Banco Bilbao Viscaya Argentaria had a net margin of 29.17% and a return on equity of 17.61%. Analysts predict that Banco Bilbao Viscaya Argentaria S.A. will post 1.59 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Barclays upgraded shares of Banco Bilbao Viscaya Argentaria from an "equal weight" rating to an "overweight" rating in a report on Thursday, August 7th. 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.

Banco Bilbao Viscaya Argentaria Company Profile

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.

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