BNP Paribas (OTCMKTS:BNPQY) Upgraded by Zacks Investment Research to Hold

Zacks Investment Research upgraded shares of BNP Paribas (OTCMKTS:BNPQYGet Rating) from a sell rating to a hold rating in a report released on Friday, Zacks.com reports.

According to Zacks, “BNP PARIBAS is a European leader in global banking and financial services and is one of the four strongest banks in the world according to Standard & Poor’s. The group holds key positions in three major segments: Corporate and Investment Banking, Asset Management & Services and Retail Banking. Present throughout Europe in all of its business lines, the bank’s two domestic markets in retail banking are France and Italy. In the United States, BNP Paribas employs 15,000 people including 2,500 employees in its Corporate and Investment Banking as well as Asset Management and Services businesses which are headquartered in New York. It is also present in other financial hubs throughout the United States including Chicago, San Francisco, Los Angeles, Dallas, Houston, Miami and Boston. BNP Paribas also operates a retail banking business through its subsidiary Bank of the West with over 700 branches in the Western US. “

A number of other analysts have also commented on the company. Barclays boosted their price objective on BNP Paribas from €62.30 ($65.58) to €64.30 ($67.68) in a report on Wednesday. Morgan Stanley boosted their price objective on BNP Paribas from €68.00 ($71.58) to €71.00 ($74.74) and gave the stock an overweight rating in a report on Wednesday. Societe Generale upgraded BNP Paribas from a hold rating to a buy rating and set a $67.00 target price on the stock in a research note on Friday, March 18th. JPMorgan Chase & Co. cut their target price on BNP Paribas from €62.00 ($65.26) to €61.00 ($64.21) and set a neutral rating on the stock in a research note on Monday, April 11th. Finally, UBS Group boosted their target price on BNP Paribas from €60.00 ($63.16) to €63.00 ($66.32) and gave the stock a buy rating in a research note on Thursday. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of Buy and a consensus price target of $62.43.

Shares of OTCMKTS:BNPQY traded up $0.12 during midday trading on Friday, reaching $26.86. The company’s stock had a trading volume of 427,505 shares, compared to its average volume of 383,958. BNP Paribas has a fifty-two week low of $24.00 and a fifty-two week high of $38.48. The firm has a market capitalization of $66.31 billion, a price-to-earnings ratio of 6.86, a PEG ratio of 0.82 and a beta of 1.60. The firm has a 50 day moving average price of $27.49 and a two-hundred day moving average price of $32.00. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.72 and a current ratio of 0.72.

BNP Paribas Company Profile (Get Rating)

BNP Paribas SA provides a range of banking and financial services in Europe, North America, Asia Pacific, and internationally. The company offers corporate and institutional banking services, such as consulting, financing and transaction banking for corporate clients and institutional investors; capital markets investment and financing; securities clearing, and custody services.

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