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

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

A number of other equities research analysts also recently issued reports on GGAL. Weiss Ratings reissued a “sell (d+)” rating on shares of Grupo Financiero Galicia in a research note on Monday. The Goldman Sachs Group upgraded Grupo Financiero Galicia to a “hold” rating in a research note on Monday, November 10th. Citigroup raised Grupo Financiero Galicia from a “neutral” rating to a “buy” rating in a report on Monday, November 3rd. Wall Street Zen upgraded shares of Grupo Financiero Galicia from a “sell” rating to a “hold” rating in a research note on Saturday, December 13th. Finally, JPMorgan Chase & Co. raised Grupo Financiero Galicia from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $46.00 to $75.00 in a report on Tuesday, October 28th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Grupo Financiero Galicia currently has an average rating of “Moderate Buy” and an average price target of $66.25.

Grupo Financiero Galicia Stock Down 1.2%

Shares of NASDAQ GGAL opened at $54.06 on Monday. Grupo Financiero Galicia has a 1 year low of $25.89 and a 1 year high of $74.00. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.16 and a quick ratio of 1.16. The company has a market capitalization of $7.97 billion, a P/E ratio of 27.30 and a beta of 1.45. The company has a 50 day simple moving average of $51.59 and a 200-day simple moving average of $45.49.

Institutional Investors Weigh In On Grupo Financiero Galicia

Several institutional investors and hedge funds have recently made changes to their positions in GGAL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Grupo Financiero Galicia by 52.2% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,937,465 shares of the bank’s stock valued at $97,629,000 after buying an additional 664,533 shares in the last quarter. RWC Asset Advisors US LLC grew its stake in shares of Grupo Financiero Galicia by 848.1% during the 3rd quarter. RWC Asset Advisors US LLC now owns 1,540,187 shares of the bank’s stock valued at $42,448,000 after buying an additional 1,377,735 shares during the period. PointState Capital LP increased its stake in Grupo Financiero Galicia by 160.5% during the first quarter. PointState Capital LP now owns 1,504,157 shares of the bank’s stock worth $81,931,000 after acquiring an additional 926,820 shares during the last quarter. INCA Investments LLC raised its holdings in Grupo Financiero Galicia by 1.0% in the third quarter. INCA Investments LLC now owns 1,080,161 shares of the bank’s stock valued at $29,769,000 after buying an additional 10,283 shares during the period. Finally, Itau Unibanco Holding S.A. raised its stake in shares of Grupo Financiero Galicia by 90.5% in the 2nd quarter. Itau Unibanco Holding S.A. now owns 893,965 shares of the bank’s stock valued at $45,047,000 after acquiring an additional 424,693 shares during the period.

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.