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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| BBVA Bilbao Vizcaya Argentaria SA | NYSE:BBVA | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.33 | 3.12% | 10.92 | 10.94 | 10.545 | 10.57 | 2,721,845 | 01:00:00 |
From May 2019 to May 2024
By Kim Richters
Shares in Banco Bilbao Vizcaya Argentaria SA soared on Monday after the Spanish bank agreed to sell its U.S. arm to PNC Financial Services Group Inc. for $11.6 billion.
At 0842 GMT, shares in BBVA traded 15% higher at EUR3.65.
The companies said earlier on Monday that PNC Financial Services would acquire BBVA's U.S. operations, BBVA USA Bancshares Inc. and its subsidiary, BBVA USA.
Analysts at Jefferies said the market has long been waiting for the bank to divest its U.S. business, which many saw as a weak link in the group from a profitability perspective.
The price of $11.6 billion seemed reasonable in the current environment, the analysts said.
The market's focus now "is likely to turn to deployment of that capital and M&A speculation will rise once more," they added.
Write to Kim Richters at kim.richters@wsj.com
(END) Dow Jones Newswires
November 16, 2020 04:08 ET (09:08 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
1 Year BBVA Bilbao Vizcaya Arge... Chart |
1 Month BBVA Bilbao Vizcaya Arge... Chart |
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