Grupo Financiero Galicia (NASDAQ:GGAL) Rating Increased to Hold at Wall Street Zen

Key Points

• Wall Street Zen upgraded Grupo Financiero Galicia from "sell" to "hold"; MarketBeat shows a consensus "Hold" rating with an average price target of $65.50.
• The stock opened at $40.15 and was down 2.9%, trading well below its 52‑week high of $65.48 and with a market capitalization of $6.45 billion.
• In the most recent quarter GGAL reported a loss of ($0.36) EPS on $666.9 million in revenue but posted an 18.96% return on equity, and analysts forecast about 1.68 EPS for the current fiscal year.

Grupo Financiero Galicia (NASDAQ:GGAL - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued on Saturday.

Several other brokerages have also recently issued reports on GGAL. JPMorgan Chase & Co. dropped their price objective on shares of 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 reaffirmed a "sell (d+)" rating on shares of Grupo Financiero Galicia in a research note on Friday, March 27th. Finally, Zacks Research cut shares of Grupo Financiero Galicia from a "hold" rating to a "strong sell" rating in a research note on Monday, February 9th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Grupo Financiero Galicia presently has a consensus rating of "Hold" and an average price target of $65.50.

Grupo Financiero Galicia Stock Down 2.9%

GGAL stock opened at $40.15 on Friday. The stock has a market capitalization of $6.45 billion, a P/E ratio of 20.28 and a beta of 1.27. The firm has a 50-day simple moving average of $45.25 and a 200-day simple moving average of $48.58. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.32. Grupo Financiero Galicia has a 52 week low of $25.89 and a 52 week high of $65.48.

Grupo Financiero Galicia (NASDAQ:GGAL - Get Free Report) last released its earnings results on Saturday, February 14th. The bank reported ($0.36) EPS for the quarter. The company had revenue of $666.89 million for the quarter. Grupo Financiero Galicia had a return on equity of 18.96% and a net margin of 7.13%. Equities analysts forecast that Grupo Financiero Galicia will post 1.68 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Cetera Investment Advisers grew its position in shares of Grupo Financiero Galicia by 1.9% in the 2nd quarter. Cetera Investment Advisers now owns 11,824 shares of the bank's stock valued at $596,000 after buying an additional 226 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Grupo Financiero Galicia by 0.7% in the 2nd quarter. Geode Capital Management LLC now owns 54,525 shares of the bank's stock valued at $2,748,000 after buying an additional 362 shares during the last quarter. Deltec Asset Management LLC grew its position in shares of Grupo Financiero Galicia by 1.6% in the 1st quarter. Deltec Asset Management LLC now owns 25,900 shares of the bank's stock valued at $1,210,000 after buying an additional 400 shares during the last quarter. Hantz Financial Services Inc. grew its position in shares of Grupo Financiero Galicia by 131.6% in the 3rd quarter. Hantz Financial Services Inc. now owns 938 shares of the bank's stock valued at $26,000 after buying an additional 533 shares during the last quarter. Finally, Lazard Asset Management LLC grew its position in shares of Grupo Financiero Galicia by 1.0% in the 3rd quarter. Lazard Asset Management LLC now owns 65,810 shares of the bank's stock valued at $1,814,000 after buying an additional 677 shares during the last quarter.

Grupo Financiero Galicia Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.