Zacks Research Upgrades Grupo Financiero Galicia (NASDAQ:GGAL) to Hold

Grupo Financiero Galicia (NASDAQ:GGAL) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Thursday,Zacks.com reports.

GGAL has been the subject of a number of other reports. Wall Street Zen upgraded shares of Grupo Financiero Galicia from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Weiss Ratings restated a “sell (d+)” rating on shares of Grupo Financiero Galicia in a research report on Friday, March 27th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Grupo Financiero Galicia from $75.00 to $72.00 and set an “overweight” rating for the company in a research report on Thursday, February 19th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $65.50.

Grupo Financiero Galicia Trading Down 2.5%

NASDAQ GGAL opened at $40.79 on Thursday. The company has a market capitalization of $6.55 billion, a PE ratio of 20.60, a P/E/G ratio of 0.29 and a beta of 1.27. The company has a fifty day moving average of $44.45 and a 200 day moving average of $49.25. Grupo Financiero Galicia has a 1 year low of $25.89 and a 1 year high of $65.48. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.16 and a quick ratio of 1.16.

Grupo Financiero Galicia (NASDAQ:GGAL) last posted its earnings results on Wednesday, May 13th. The bank reported $0.30 earnings per share (EPS) for the quarter. The company had revenue of $1.53 billion during the quarter. Grupo Financiero Galicia had a net margin of 7.13% and a return on equity of 18.96%. Research analysts forecast that Grupo Financiero Galicia will post 3.69 earnings per share for the current year.

Institutional Trading of Grupo Financiero Galicia

A number of institutional investors and hedge funds have recently modified their holdings of GGAL. NewEdge Advisors LLC increased its stake in shares of Grupo Financiero Galicia by 149.5% during the first quarter. NewEdge Advisors LLC now owns 9,003 shares of the bank’s stock worth $490,000 after purchasing an additional 5,394 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Grupo Financiero Galicia by 0.7% during the second quarter. Geode Capital Management LLC now owns 54,525 shares of the bank’s stock worth $2,748,000 after purchasing an additional 362 shares in the last quarter. Cetera Investment Advisers increased its stake in shares of Grupo Financiero Galicia by 1.9% during the second quarter. Cetera Investment Advisers now owns 11,824 shares of the bank’s stock worth $596,000 after purchasing an additional 226 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Grupo Financiero Galicia by 93.2% during the second quarter. JPMorgan Chase & Co. now owns 75,302 shares of the bank’s stock worth $3,794,000 after purchasing an additional 36,326 shares in the last quarter. Finally, Marshall Wace LLP purchased a new stake in shares of Grupo Financiero Galicia during the second quarter worth about $5,299,000.

Grupo Financiero Galicia Company Profile

Grupo Financiero Galicia is a diversified financial services holding company headquartered in Buenos Aires, Argentina. As one of the country’s largest private-sector financial institutions, the company provides a comprehensive suite of banking, insurance and investment products to individual, small-to-medium enterprise (SME) and corporate clients. Its operations span retail and commercial banking, asset management, leasing, factoring and pension fund administration.

The core banking segment offers deposit and lending services, credit and debit cards, payment solutions and digital banking platforms.