Grupo Financiero Galicia (NASDAQ:GGAL) Rating Lowered to Neutral at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. downgraded Grupo Financiero Galicia from an "overweight" rating to a "neutral" rating, setting a price target of $46.00, suggesting a potential upside of 43.21% from the current price.
• Recent analyst ratings for Grupo Financiero Galicia show a trend of downgrades, with three analysts giving a "Hold" rating and others issuing ratings from "Sell" to "Strong Buy."
• As of Wednesday, Grupo Financiero Galicia's stock price opened at $32.12, with a market capitalization of $4.74 billion and a 12-month high of $74.00.

Grupo Financiero Galicia (NASDAQ:GGAL - Get Free Report) was downgraded by equities researchers at JPMorgan Chase & Co. from an "overweight" rating to a "neutral" rating in a research note issued on Wednesday,Finviz reports. They presently have a $46.00 price target on the bank's stock. JPMorgan Chase & Co.'s price objective suggests a potential upside of 43.21% from the company's current price.

A number of other research analysts also recently commented on GGAL. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Grupo Financiero Galicia in a report on Wednesday, October 8th. Wall Street Zen downgraded shares of Grupo Financiero Galicia from a "hold" rating to a "sell" rating in a report on Friday, September 26th. HSBC assumed coverage on shares of Grupo Financiero Galicia in a research note on Wednesday, October 1st. They issued a "buy" rating and a $60.00 price objective for the company. Citigroup downgraded shares of Grupo Financiero Galicia from a "buy" rating to a "neutral" rating in a research note on Wednesday, September 10th. Finally, Zacks Research downgraded shares of Grupo Financiero Galicia from a "hold" rating to a "strong sell" rating in a research note on Thursday, August 28th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $67.00.

Grupo Financiero Galicia Stock Up 0.1%

Shares of NASDAQ:GGAL opened at $32.12 on Wednesday. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. Grupo Financiero Galicia has a 12 month low of $25.89 and a 12 month high of $74.00. The company has a 50-day moving average price of $35.18 and a 200 day moving average price of $48.04. The company has a market cap of $4.74 billion, a price-to-earnings ratio of 4.73 and a beta of 1.54.

Institutional Trading of Grupo Financiero Galicia

Institutional investors and hedge funds have recently modified their holdings of the stock. Vontobel Holding Ltd. bought a new stake in shares of Grupo Financiero Galicia during the first quarter valued at approximately $225,000. Whittier Trust Co. bought a new stake in shares of Grupo Financiero Galicia during the first quarter valued at approximately $675,000. Banco Santander S.A. raised its stake in shares of Grupo Financiero Galicia by 578.7% during the first quarter. Banco Santander S.A. now owns 33,458 shares of the bank's stock valued at $1,822,000 after acquiring an additional 28,528 shares in the last quarter. Diversified Trust Co bought a new stake in shares of Grupo Financiero Galicia during the second quarter valued at approximately $413,000. Finally, Banco BTG Pactual S.A. raised its stake in shares of Grupo Financiero Galicia by 62.3% during the first quarter. Banco BTG Pactual S.A. now owns 163,558 shares of the bank's stock valued at $8,909,000 after acquiring an additional 62,755 shares in the last quarter.

Grupo Financiero Galicia Company Profile

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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