BidaskClub Lowers Grupo Financiero Galicia (GGAL) to Strong Sell

BidaskClub downgraded shares of Grupo Financiero Galicia (NASDAQ:GGAL) from a sell rating to a strong sell rating in a research report report published on Tuesday morning.

A number of other analysts have also recently issued reports on GGAL. ValuEngine raised Grupo Financiero Galicia from a strong sell rating to a sell rating in a research report on Friday, July 6th. Zacks Investment Research cut Grupo Financiero Galicia from a hold rating to a sell rating in a research report on Monday, June 18th. TheStreet cut Grupo Financiero Galicia from a b- rating to a c+ rating in a research report on Friday, August 24th. Finally, Citigroup cut Grupo Financiero Galicia from a buy rating to a neutral rating in a research report on Thursday, August 30th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. Grupo Financiero Galicia has an average rating of Hold and an average price target of $87.00.

Shares of NASDAQ GGAL opened at $24.61 on Tuesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.17 and a quick ratio of 1.19. Grupo Financiero Galicia has a 52-week low of $18.30 and a 52-week high of $73.45.

Grupo Financiero Galicia (NASDAQ:GGAL) last announced its earnings results on Friday, August 17th. The bank reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.01. The firm had revenue of $483.52 million during the quarter, compared to analyst estimates of $392.51 million. On average, sell-side analysts anticipate that Grupo Financiero Galicia will post 3.16 EPS for the current fiscal year.

A number of institutional investors have recently bought and sold shares of the business. Northern Trust Corp lifted its position in Grupo Financiero Galicia by 2.2% during the 2nd quarter. Northern Trust Corp now owns 870,333 shares of the bank’s stock worth $28,703,000 after acquiring an additional 18,547 shares during the period. 683 Capital Management LLC acquired a new stake in Grupo Financiero Galicia during the 2nd quarter worth approximately $1,484,000. Bank of New York Mellon Corp lifted its position in Grupo Financiero Galicia by 21.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 114,980 shares of the bank’s stock worth $3,792,000 after acquiring an additional 20,491 shares during the period. Schroder Investment Management Group lifted its position in Grupo Financiero Galicia by 23.6% during the 2nd quarter. Schroder Investment Management Group now owns 1,478,671 shares of the bank’s stock worth $52,049,000 after acquiring an additional 282,015 shares during the period. Finally, Odey Asset Management Group Ltd lifted its position in Grupo Financiero Galicia by 166.4% during the 2nd quarter. Odey Asset Management Group Ltd now owns 346,283 shares of the bank’s stock worth $11,420,000 after acquiring an additional 216,283 shares during the period. 28.53% of the stock is 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.

Recommended Story: Google Finance

Receive News & Ratings for Grupo Financiero Galicia Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Grupo Financiero Galicia and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply