Grupo Financiero Galicia (NASDAQ:GGAL) Stock Rating Lowered by Wall Street Zen

Grupo Financiero Galicia (NASDAQ:GGAL) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

Several other equities analysts also recently commented on the company. UBS Group assumed coverage on Grupo Financiero Galicia in a research report on Wednesday, November 19th. They issued a “hold” rating and a $60.00 target price on the stock. The Goldman Sachs Group upgraded shares of Grupo Financiero Galicia to a “hold” rating in a research note on Monday, November 10th. Citigroup raised shares of Grupo Financiero Galicia from a “neutral” rating to a “buy” rating in a report on Monday, November 3rd. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Grupo Financiero Galicia in a report on Monday, December 29th. Finally, Hsbc Global Res raised shares of Grupo Financiero Galicia to a “strong-buy” rating in a research note on Wednesday, October 1st. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Grupo Financiero Galicia has an average rating of “Moderate Buy” and an average price target of $66.25.

Grupo Financiero Galicia Stock Performance

NASDAQ:GGAL opened at $56.46 on Friday. The company has a market cap of $8.33 billion, a P/E ratio of 28.52 and a beta of 1.47. Grupo Financiero Galicia has a 52-week low of $25.89 and a 52-week high of $73.25. The stock’s 50-day simple moving average is $52.87 and its 200 day simple moving average is $45.59.

Institutional Investors Weigh In On Grupo Financiero Galicia

Several large investors have recently added to or reduced their stakes in GGAL. RWC Asset Advisors US LLC increased its stake in Grupo Financiero Galicia by 848.1% in the third quarter. RWC Asset Advisors US LLC now owns 1,540,187 shares of the bank’s stock valued at $42,448,000 after purchasing an additional 1,377,735 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Grupo Financiero Galicia by 52.2% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,937,465 shares of the bank’s stock worth $97,629,000 after acquiring an additional 664,533 shares in the last quarter. RWC Asset Management LLP boosted its holdings in Grupo Financiero Galicia by 240.3% in the third quarter. RWC Asset Management LLP now owns 826,175 shares of the bank’s stock worth $22,769,000 after acquiring an additional 583,403 shares in the last quarter. Itau Unibanco Holding S.A. grew its stake in Grupo Financiero Galicia by 90.5% in the second 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. Finally, Banco BTG Pactual S.A. increased its holdings in shares of Grupo Financiero Galicia by 198.3% during the second quarter. Banco BTG Pactual S.A. now owns 487,916 shares of the bank’s stock valued at $24,586,000 after acquiring an additional 324,358 shares in the last quarter.

About Grupo Financiero Galicia

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.