JPMorgan Chase & Co. Upgrades Grupo Financiero Galicia (NASDAQ:GGAL) to “Neutral”

Grupo Financiero Galicia (NASDAQ:GGAL) was upgraded by equities research analysts at JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a research report issued to clients and investors on Wednesday, The Fly reports.

Other research analysts have also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Grupo Financiero Galicia from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a research report on Wednesday, July 3rd. Credit Suisse Group cut shares of Grupo Financiero Galicia from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $45.00 to $22.00 in a research report on Tuesday. ValuEngine cut shares of Grupo Financiero Galicia from a “hold” rating to a “sell” rating in a research report on Monday, July 22nd. BidaskClub cut shares of Grupo Financiero Galicia from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Finally, Morgan Stanley cut shares of Grupo Financiero Galicia from an “overweight” rating to an “underweight” rating in a research report on Monday. Four equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. Grupo Financiero Galicia currently has a consensus rating of “Hold” and an average target price of $27.25.

GGAL stock opened at $17.23 on Wednesday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.77. The stock has a 50 day moving average of $35.26. Grupo Financiero Galicia has a fifty-two week low of $15.17 and a fifty-two week high of $39.22. The company has a market cap of $5.45 billion, a PE ratio of 4.80 and a beta of 0.85.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in shares of Grupo Financiero Galicia by 139.1% during the 2nd quarter. BlackRock Inc. now owns 6,883,396 shares of the bank’s stock worth $244,360,000 after buying an additional 4,004,132 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Grupo Financiero Galicia by 276.7% during the 2nd quarter. Northern Trust Corp now owns 595,993 shares of the bank’s stock worth $21,158,000 after buying an additional 437,762 shares during the last quarter. Consilium Investment Management LLC acquired a new position in shares of Grupo Financiero Galicia during the 1st quarter worth about $8,378,000. Sumitomo Mitsui Trust Holdings Inc. acquired a new position in shares of Grupo Financiero Galicia during the 2nd quarter worth about $9,899,000. Finally, Swiss National Bank acquired a new position in shares of Grupo Financiero Galicia during the 2nd quarter worth about $6,525,000. 25.57% of the stock is owned by hedge funds and other institutional investors.

Grupo Financiero Galicia Company Profile

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.

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Analyst Recommendations for Grupo Financiero Galicia (NASDAQ:GGAL)

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