Grupo Financiero Galicia (GGAL) Downgraded to “Hold” at HSBC

Grupo Financiero Galicia (NASDAQ:GGAL) was downgraded by stock analysts at HSBC from a “buy” rating to a “hold” rating in a note issued to investors on Thursday, MarketBeat reports.

Other equities research analysts also recently issued research reports about the company. BidaskClub upgraded Grupo Financiero Galicia from a “hold” rating to a “buy” rating in a report on Thursday, December 7th. ValuEngine downgraded Grupo Financiero Galicia from a “buy” rating to a “hold” rating in a report on Thursday, December 7th. Santander downgraded Grupo Financiero Galicia from a “hold” rating to an “underperform” rating in a report on Friday, September 8th. Citigroup raised Grupo Financiero Galicia from a “sell” rating to a “neutral” rating in a research report on Friday, September 8th. Finally, UBS raised Grupo Financiero Galicia from a “neutral” rating to a “buy” rating in a research report on Wednesday, October 4th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. Grupo Financiero Galicia presently has an average rating of “Hold”.

Grupo Financiero Galicia (NASDAQ GGAL) traded down $0.10 during midday trading on Thursday, hitting $65.98. The stock had a trading volume of 509,600 shares, compared to its average volume of 458,115. The company has a market capitalization of $8,592.18, a P/E ratio of 21.11 and a beta of 1.14. Grupo Financiero Galicia has a 52-week low of $23.50 and a 52-week high of $67.20.

Large investors have recently made changes to their positions in the stock. Victory Capital Management Inc. purchased a new position in shares of Grupo Financiero Galicia during the third quarter valued at approximately $107,000. Advisor Group Inc. boosted its position in Grupo Financiero Galicia by 126.5% in the second quarter. Advisor Group Inc. now owns 2,997 shares of the bank’s stock worth $128,000 after purchasing an additional 1,674 shares during the last quarter. Bank of America Corp DE boosted its position in Grupo Financiero Galicia by 39.5% in the first quarter. Bank of America Corp DE now owns 3,132 shares of the bank’s stock worth $120,000 after purchasing an additional 887 shares during the last quarter. Marshall Wace LLP purchased a new position in Grupo Financiero Galicia in the second quarter worth $212,000. Finally, Private Advisory Group LLC purchased a new position in Grupo Financiero Galicia in the second quarter worth $266,000. 32.24% of the stock is currently owned by institutional investors.

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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).