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BBVA · Analysis updated Nov 10, 2026, 6:00 PM ET
Why is Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) stock moving?
BBVA closed at 26.49 on Nov 10, up about 13% from the 23.44 low on Oct 30 and near the day's 26.76 high. The rebound has been supported by volume: Nov 5 traded 3.74M shares, the largest day in the window, and Nov 9 rose 5.5% on 2.28M shares. Q3 results on Oct 29 were mixed. Profit rose on strong net interest income, but adjusted EPS of $0.61 missed the $0.62 estimate and sales of $12.560B slightly missed $12.580B. The stock fell about 6% from Oct 28 to Oct 30 after results. Analyst views are split: Goldman Sachs raised its target to 28.50 euros with a Buy on Nov 2, while UBS cut its target to 22.70 euros with a Neutral. Targets are quoted in euros, so direct comparison with the dollar-quoted price needs care. The second buyback tranche is progressing steadily, reaching 278.5M euros (27.85% of the maximum) by Nov 9, which offers ongoing demand. Key risks are the EPS miss, the divergent analyst targets, and the fact that the recent rally is only about two weeks old.
News behind the analysis
- Goldman Sachs Raises BBVA Price Target to 28.50 EuroGoldman Sachs raised its BBVA price target from 28.40 to 28.50 euros and kept a Buy rating.
- UBS Lowers BBVA Price Target to 22.70 EuroUBS cut its BBVA price target from 24.50 to 22.70 euros and kept a Neutral rating.
- BBVA Reports Strong Third-Quarter 2026 Financial ResultsBBVA reported a significant rise in third-quarter profit, driven by strong growth in net interest income, which exceeded analyst expectations according to this report.
- BBVA Q3 Adj. EPS $0.61 Misses $0.62 Estimate, Sales $12.560B Miss $12.580B EstimateBenzinga reported adjusted EPS of $0.61 against a $0.62 estimate and sales of $12.560B against $12.580B, a small miss on both.
- BBVA Q3 2026 Earnings Call TranscriptTranscript of BBVA's third-quarter 2026 earnings call, held the day results were published.
- Form 6-K: BBVA second tranche buyback update (Nov 3-9, 2026)BBVA reported that the second tranche buyback had bought shares for 278.5M euros, about 27.85% of its maximum cash amount, with purchases from Nov 3 to Nov 9.
- Form 6-K: BBVA second tranche buyback update (Oct 26-Nov 2, 2026)BBVA reported that the second tranche buyback had bought shares for 239.7M euros, about 23.97% of its maximum cash amount, through Nov 2.
- Form 6-K: BBVA nine-month 2026 reportBBVA filed its interim report for the nine months ended Sept 30, 2026, including the operating and financial review and unaudited condensed financial statements.
About Banco Bilbao Vizcaya Argentaria, S.A.
BBVA is a big Spanish bank that operates mainly in Spain, Mexico, Turkey (through Garanti BBVA) and South America, and its shares trade in the US as ADRs. Its Mexican unit is the largest bank in Mexico and earns a large share of group profit. BBVA's return on tangible equity, a measure of profit relative to shareholders' capital, has been among the highest of Europe's large banks: about 22% in the first nine months of 2026.
How it makes money
Most of BBVA's revenue is net interest income, which is the gap between what it earns on loans and what it pays on deposits. It earns that across retail, small-business and corporate lending. The rest comes mostly from fees (payments, cards, asset management and insurance) and from trading in its corporate and investment banking unit. Mexico is the biggest profit contributor, earning about €3 billion in net profit in the first half of 2026, followed by Spain. Turkey and South America add smaller amounts. Group net profit was about €9.1 billion in the first nine months of 2026.
What usually moves BBVA
- Mexican economy and peso exchange rate
- Turkish inflation and lira swings
- Euro and Latin American interest rates
- Loan growth and credit losses
- Share buybacks and dividends