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

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

A number of other equities analysts have also weighed in on the company. JPMorgan Chase & Co. reduced their price objective on Grupo Financiero Galicia from $75.00 to $72.00 and set an “overweight” rating for the company in a research note on Thursday, February 19th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Grupo Financiero Galicia in a research note on Friday, March 27th. Finally, Wall Street Zen upgraded Grupo Financiero Galicia from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $65.50.

Grupo Financiero Galicia Trading Down 2.5%

NASDAQ:GGAL opened at $40.79 on Thursday. Grupo Financiero Galicia has a 12 month low of $25.89 and a 12 month high of $65.48. The firm has a fifty day simple moving average of $44.45 and a 200-day simple moving average of $49.25. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $6.55 billion, a P/E ratio of 20.60, a PEG ratio of 0.29 and a beta of 1.27.

Grupo Financiero Galicia (NASDAQ:GGAL) last posted its quarterly earnings data on Wednesday, May 13th. The bank reported $0.30 EPS for the quarter. The business 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%. On average, equities research analysts anticipate that Grupo Financiero Galicia will post 3.69 earnings per share for the current year.

Institutional Investors Weigh In On Grupo Financiero Galicia

A number of institutional investors have recently modified their holdings of the business. Lazard Asset Management LLC grew its position in shares of Grupo Financiero Galicia by 4.8% during the 1st quarter. Lazard Asset Management LLC now owns 165,572 shares of the bank’s stock valued at $7,734,000 after acquiring an additional 7,603 shares during the period. Turim 21 Investimentos Ltda. raised its position in shares of Grupo Financiero Galicia by 74.4% during the 1st quarter. Turim 21 Investimentos Ltda. now owns 41,586 shares of the bank’s stock worth $1,942,000 after purchasing an additional 17,746 shares during the last quarter. Absolute Gestao de Investimentos Ltda. purchased a new position in Grupo Financiero Galicia in the 1st quarter valued at about $7,879,000. Moerus Capital Management LLC acquired a new stake in Grupo Financiero Galicia in the 1st quarter worth about $8,179,000. Finally, Bank of New York Mellon Corp boosted its holdings in Grupo Financiero Galicia by 2.2% in the 1st quarter. Bank of New York Mellon Corp now owns 32,382 shares of the bank’s stock worth $1,513,000 after buying an additional 686 shares during 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.