Grupo Financiero Galicia S.A. (NASDAQ:GGAL) shares dropped 5.9% on Friday . The company traded as low as $31.29 and last traded at $31.96. Approximately 1,112,562 shares traded hands during mid-day trading, an increase of 76% from the average daily volume of 631,822 shares. The stock had previously closed at $33.95.

GGAL has been the topic of a number of research analyst reports. Zacks Investment Research cut shares of Grupo Financiero Galicia from a “buy” rating to a “hold” rating in a research note on Wednesday, April 18th. ValuEngine cut shares of Grupo Financiero Galicia from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, May 2nd. BidaskClub cut shares of Grupo Financiero Galicia from a “hold” rating to a “sell” rating in a research note on Tuesday, May 8th. Finally, UBS Group upgraded shares of Grupo Financiero Galicia from a “hold” rating to a “buy” rating in a research note on Friday, May 25th. Four analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $87.00.

The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.24.

Grupo Financiero Galicia (NASDAQ:GGAL) last posted its quarterly earnings results on Wednesday, May 30th. The bank reported $1.07 earnings per share (EPS) for the quarter. The business had revenue of $391.59 million during the quarter. analysts expect that Grupo Financiero Galicia S.A. will post 4.08 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Envestnet Asset Management Inc. raised its position in shares of Grupo Financiero Galicia by 69.6% in the fourth quarter. Envestnet Asset Management Inc. now owns 3,030 shares of the bank’s stock valued at $199,000 after purchasing an additional 1,243 shares during the period. Quantitative Systematic Strategies LLC bought a new stake in shares of Grupo Financiero Galicia in the first quarter valued at approximately $207,000. Verition Fund Management LLC bought a new stake in shares of Grupo Financiero Galicia in the first quarter valued at approximately $216,000. NN Investment Partners Holdings N.V. raised its position in shares of Grupo Financiero Galicia by 62.4% in the second quarter. NN Investment Partners Holdings N.V. now owns 6,900 shares of the bank’s stock valued at $228,000 after purchasing an additional 2,651 shares during the period. Finally, Pinebridge Investments L.P. bought a new stake in shares of Grupo Financiero Galicia in the second quarter valued at approximately $234,000. 30.48% of the stock is currently owned by institutional investors.

About Grupo Financiero Galicia

Grupo Financiero Galicia SA, a financial services holding company, provides various financial products and services in Argentina. The company operates through Banking, Regional Credit Cards, Insurance, and Other Grupo Galicia Businesses segments. It offers corporate banking services to companies; credit and debit cards, loans, and financing advice to various agricultural-sector clients; foreign trade transaction services; and e-banking services.

Further Reading: Understanding Analyst Ratings

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