Grupo Financiero Galicia S.A. (GGAL) Lowered to “Hold” at Zacks Investment Research
Grupo Financiero Galicia S.A. (NASDAQ:GGAL) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Monday, May 22nd.
According to Zacks, “Grupo Financiero Galicia SA. is involved in the Financial Services Industry. Their principal activity is to continue to be a financial and investment services holding company and to fulfill the banking services activities of Banco Galicia. “
Shares of Grupo Financiero Galicia (GGAL) traded up 0.81% during mid-day trading on Monday, hitting $42.10. 326,432 shares of the stock were exchanged. Grupo Financiero Galicia has a 52-week low of $23.23 and a 52-week high of $47.34. The company has a market cap of $5.47 billion, a P/E ratio of 13.95 and a beta of 1.30. The stock’s 50-day moving average price is $42.88 and its 200-day moving average price is $35.37.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Rit Capital Partners PLC purchased a new position in shares of Grupo Financiero Galicia during the third quarter worth $3,321,000. Itau Unibanco Holding S.A. purchased a new position in shares of Grupo Financiero Galicia during the third quarter worth $670,000. Russell Investments Group Ltd. purchased a new position in shares of Grupo Financiero Galicia during the fourth quarter worth $6,255,000. Strycker View Capital LLC purchased a new position in shares of Grupo Financiero Galicia during the fourth quarter worth $2,105,000. Finally, Comerica Bank boosted its position in shares of Grupo Financiero Galicia by 0.4% in the fourth quarter. Comerica Bank now owns 183,228 shares of the bank’s stock worth $5,781,000 after buying an additional 644 shares in the last quarter. Institutional investors and hedge funds own 29.98% of the company’s stock.
About Grupo Financiero Galicia
Grupo Financiero Galicia SA (Grupo Financiero Galicia) is a financial services holding company. The Company’s segments include Banking, Regional Credit Cards, CFA, Insurance and Other Grupo Galicia Businesses. Banco de Galicia y Buenos Aires SA (Banco Galicia) is a subsidiary of the Company. Its banking business segment represents Banco Galicia consolidated line by line with Banco Galicia Uruguay SA (Galicia Uruguay).
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