Banco Bilbao Vizcaya Argentaria (NYSE:BBVA) Shares Gap Down – Here’s What Happened

Banco Bilbao Vizcaya Argentaria, S.A. (NYSE:BBVA)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $10.53, but opened at $10.10. Banco Bilbao Vizcaya Argentaria shares last traded at $10.13, with a volume of 83,875 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms have recently commented on BBVA. BNP Paribas cut shares of Banco Bilbao Vizcaya Argentaria from a “neutral” rating to an “underperform” rating in a research report on Wednesday, June 12th. Royal Bank of Canada raised shares of Banco Bilbao Vizcaya Argentaria to a “moderate buy” rating in a research report on Wednesday, July 31st. Finally, Citigroup upgraded Banco Bilbao Vizcaya Argentaria to a “strong-buy” rating in a research note on Friday, August 9th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy”.

Banco Bilbao Vizcaya Argentaria Price Performance

The stock has a market capitalization of $59.26 billion, a price-to-earnings ratio of 7.17, a PEG ratio of 1.03 and a beta of 1.30. The firm’s fifty day moving average is $10.31 and its 200-day moving average is $10.60.

Banco Bilbao Vizcaya Argentaria (NYSE:BBVA) last issued its earnings results on Thursday, August 1st. The bank reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.03. The business had revenue of $9.93 billion for the quarter. Banco Bilbao Vizcaya Argentaria had a net margin of 27.55% and a return on equity of 16.40%. During the same quarter last year, the company posted $0.36 EPS. On average, sell-side analysts expect that Banco Bilbao Vizcaya Argentaria, S.A. will post 1.75 EPS for the current year.

Banco Bilbao Vizcaya Argentaria Increases Dividend

The company also recently declared a Semi-Annual dividend, which will be paid on Friday, October 25th. Stockholders of record on Wednesday, October 9th will be issued a $0.3244 dividend. This represents a dividend yield of 5.6%. This is an increase from Banco Bilbao Vizcaya Argentaria’s previous Semi-Annual dividend of $0.11. The ex-dividend date is Wednesday, October 9th. Banco Bilbao Vizcaya Argentaria’s payout ratio is 35.37%.

Hedge Funds Weigh In On Banco Bilbao Vizcaya Argentaria

Several large investors have recently added to or reduced their stakes in BBVA. Clearbridge Investments LLC raised its holdings in shares of Banco Bilbao Vizcaya Argentaria by 172.8% during the second quarter. Clearbridge Investments LLC now owns 3,096,738 shares of the bank’s stock worth $31,060,000 after purchasing an additional 1,961,553 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Banco Bilbao Vizcaya Argentaria by 5.9% during the second quarter. Dimensional Fund Advisors LP now owns 11,103,927 shares of the bank’s stock worth $111,371,000 after acquiring an additional 619,836 shares during the last quarter. Envestnet Asset Management Inc. grew its position in shares of Banco Bilbao Vizcaya Argentaria by 9.9% during the second quarter. Envestnet Asset Management Inc. now owns 4,412,058 shares of the bank’s stock worth $44,253,000 after acquiring an additional 396,829 shares during the last quarter. American Century Companies Inc. lifted its position in Banco Bilbao Vizcaya Argentaria by 24.2% in the 2nd quarter. American Century Companies Inc. now owns 1,890,079 shares of the bank’s stock valued at $18,957,000 after purchasing an additional 368,660 shares during the last quarter. Finally, Raymond James & Associates boosted its stake in Banco Bilbao Vizcaya Argentaria by 266.0% during the 2nd quarter. Raymond James & Associates now owns 406,418 shares of the bank’s stock valued at $4,076,000 after purchasing an additional 295,378 shares during the period. 2.96% of the stock is currently owned by institutional investors.

About Banco Bilbao Vizcaya 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.