Grupo Financiero Galicia (GGAL) Downgraded to Hold at Zacks Investment Research

Grupo Financiero Galicia (NASDAQ:GGAL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

According to Zacks, “Grupo Financiero Galicia SA. is involved in the Financial Services Industry. Their principal activity is to continue to be a financial and investment services holding company and to fulfill the banking services activities of Banco Galicia. “

GGAL has been the topic of a number of other research reports. UBS Group raised shares of Grupo Financiero Galicia from a “neutral” rating to a “buy” rating in a report on Wednesday, October 4th. ValuEngine downgraded shares of Grupo Financiero Galicia from a “buy” rating to a “hold” rating in a report on Thursday, December 7th. BidaskClub raised shares of Grupo Financiero Galicia from a “hold” rating to a “buy” rating in a report on Thursday, December 7th. Citigroup raised shares of Grupo Financiero Galicia from a “neutral” rating to a “buy” rating in a report on Monday, November 27th. Finally, HSBC downgraded shares of Grupo Financiero Galicia from a “buy” rating to a “hold” rating in a report on Thursday, December 21st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $74.00.

Grupo Financiero Galicia (NASDAQ GGAL) traded down $0.82 during mid-day trading on Friday, reaching $72.06. 299,391 shares of the company were exchanged, compared to its average volume of 268,580. The stock has a market capitalization of $9,476.37, a P/E ratio of 23.28 and a beta of 1.15. Grupo Financiero Galicia has a 52-week low of $30.61 and a 52-week high of $73.45.

Grupo Financiero Galicia (NASDAQ:GGAL) last released its quarterly earnings data on Wednesday, November 29th. The bank reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.08. analysts predict that Grupo Financiero Galicia will post 3.52 EPS for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in GGAL. JPMorgan Chase & Co. purchased a new stake in shares of Grupo Financiero Galicia in the second quarter valued at about $1,743,000. LSV Asset Management lifted its holdings in shares of Grupo Financiero Galicia by 59.1% in the second quarter. LSV Asset Management now owns 7,000 shares of the bank’s stock valued at $298,000 after purchasing an additional 2,600 shares in the last quarter. Teachers Advisors LLC purchased a new stake in shares of Grupo Financiero Galicia in the second quarter valued at about $8,522,000. TIAA CREF Investment Management LLC purchased a new stake in shares of Grupo Financiero Galicia in the second quarter valued at about $3,059,000. Finally, Profund Advisors LLC purchased a new stake in shares of Grupo Financiero Galicia in the second quarter valued at about $344,000. 32.27% of the stock is currently owned by institutional investors.

TRADEMARK VIOLATION WARNING: “Grupo Financiero Galicia (GGAL) Downgraded to Hold at Zacks Investment Research” was reported by American Banking News and is the sole property of of American Banking News. If you are viewing this report on another site, it was illegally copied and republished in violation of US and international copyright and trademark legislation. The correct version of this report can be viewed at https://www.americanbankingnews.com/2018/01/20/grupo-financiero-galicia-ggal-downgraded-to-hold-at-zacks-investment-research.html.

About Grupo Financiero Galicia

Grupo Financiero Galicia SA (Grupo Financiero Galicia) is a financial services holding company. The Company’s segments include Banking, Regional Credit Cards, CFA, Insurance and Other Grupo Galicia Businesses. Banco de Galicia y Buenos Aires SA (Banco Galicia) is a subsidiary of the Company. Its banking business segment represents Banco Galicia consolidated line by line with Banco Galicia Uruguay SA (Galicia Uruguay).

Get a free copy of the Zacks research report on Grupo Financiero Galicia (GGAL)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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