Grupo Financiero Galicia (NASDAQ:GGAL) Rating Increased to Strong-Buy at Hsbc Global Res

Key Points

• Grupo Financiero Galicia (NASDAQ:GGAL) received a "strong-buy" rating from HSBC Global Research, indicating increased analyst confidence in the stock.
• In contrast, Zacks Research downgraded GGAL to a "strong sell," while Citigroup lowered its rating to "neutral," reflecting mixed analyst opinions.
• The stock has a current average price target of $74.00 and a market cap of $4.12 billion, with a recent trading price of $27.95.

Grupo Financiero Galicia (NASDAQ:GGAL - Get Free Report) was upgraded by analysts at Hsbc Global Res to a "strong-buy" rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

GGAL has been the topic of a number of other research reports. Zacks Research downgraded Grupo Financiero Galicia from a "hold" rating to a "strong sell" rating in a research report on Thursday, August 28th. Wall Street Zen downgraded Grupo Financiero Galicia from a "hold" rating to a "sell" rating in a research report on Friday, September 26th. HSBC assumed coverage on Grupo Financiero Galicia in a research report on Wednesday. They set a "buy" rating and a $60.00 price objective on the stock. Finally, Citigroup downgraded Grupo Financiero Galicia from a "buy" rating to a "neutral" rating in a research report on Wednesday, September 10th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $74.00.

Grupo Financiero Galicia Stock Performance

NASDAQ GGAL opened at $27.95 on Wednesday. Grupo Financiero Galicia has a 1-year low of $25.89 and a 1-year high of $74.00. The company has a market cap of $4.12 billion, a PE ratio of 4.12 and a beta of 1.54. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.16 and a quick ratio of 1.16. The stock's 50 day simple moving average is $40.29 and its 200-day simple moving average is $50.26.

Institutional Investors Weigh In On Grupo Financiero Galicia

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GGAL. Blume Capital Management Inc. acquired a new stake in Grupo Financiero Galicia during the first quarter worth $55,000. Advisors Preferred LLC increased its stake in Grupo Financiero Galicia by 272.2% during the first quarter. Advisors Preferred LLC now owns 1,098 shares of the bank's stock worth $61,000 after acquiring an additional 803 shares during the last quarter. SBI Securities Co. Ltd. increased its stake in Grupo Financiero Galicia by 240.5% during the second quarter. SBI Securities Co. Ltd. now owns 1,202 shares of the bank's stock worth $61,000 after acquiring an additional 849 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Grupo Financiero Galicia during the second quarter worth $151,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Grupo Financiero Galicia by 11.2% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,022 shares of the bank's stock valued at $165,000 after buying an additional 304 shares in the last quarter.

About Grupo Financiero Galicia

Grupo Financiero Galicia SA, a financial service holding company, provides various financial products and services to individuals and companies in Argentina. The company operates through Banks, NaranjaX, Insurance, and Other Businesses segments. It also offers personal loans; express and mortgage loans; pledge and credit card loans; credit and debit cards; and online banking services, as well as savings, deposits, and checking accounts related services.

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