Grupo Financiero Galicia (NASDAQ:GGAL) was downgraded by Zacks Investment Research from a "buy" rating to a "hold" rating in a report released on Monday, Zacks.com reports.
According to Zacks, "Grupo Financiero Galicia SA. is involved in the Financial Services Industry. Their principal activity is to continue to be a financial and investment services holding company and to fulfill the banking services activities of Banco Galicia. "
GGAL has been the topic of several other research reports. Citigroup lowered Grupo Financiero Galicia from a "neutral" rating to a "sell" rating in a research note on Thursday, May 28th. ValuEngine lowered Grupo Financiero Galicia from a "hold" rating to a "sell" rating in a research note on Thursday, April 2nd. Finally, BidaskClub lowered Grupo Financiero Galicia from a "hold" rating to a "sell" rating in a research note on Tuesday, June 2nd. Six analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. Grupo Financiero Galicia has a consensus rating of "Sell" and an average target price of $19.75.
Shares of GGAL stock traded up $0.12 during trading hours on Monday, reaching $10.33. 889,776 shares of the company's stock were exchanged, compared to its average volume of 1,484,864. Grupo Financiero Galicia has a fifty-two week low of $5.66 and a fifty-two week high of $39.22. The stock has a market capitalization of $1.46 billion, a P/E ratio of 1.87 and a beta of 1.52. The business has a fifty day moving average price of $9.53 and a 200-day moving average price of $11.21. The company has a quick ratio of 1.43, a current ratio of 1.10 and a debt-to-equity ratio of 0.44.
Grupo Financiero Galicia (NASDAQ:GGAL) last released its quarterly earnings data on Wednesday, June 10th. The bank reported $0.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.11 by ($0.16). The company had revenue of $506.60 million for the quarter, compared to analyst estimates of $601.34 million. Grupo Financiero Galicia had a return on equity of 39.23% and a net margin of 27.10%. As a group, research analysts expect that Grupo Financiero Galicia will post 4.48 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC raised its position in Grupo Financiero Galicia by 6.9% in the 1st quarter. FMR LLC now owns 971,125 shares of the bank's stock valued at $24,783,000 after buying an additional 63,062 shares during the last quarter. Aviva PLC raised its position in Grupo Financiero Galicia by 22.0% in the 4th quarter. Aviva PLC now owns 37,200 shares of the bank's stock valued at $604,000 after buying an additional 6,700 shares during the last quarter. Pictet Asset Management Ltd. raised its position in Grupo Financiero Galicia by 7.1% in the 4th quarter. Pictet Asset Management Ltd. now owns 143,570 shares of the bank's stock valued at $292,000 after buying an additional 9,542 shares during the last quarter. Panagora Asset Management Inc. raised its position in Grupo Financiero Galicia by 206.0% in the 4th quarter. Panagora Asset Management Inc. now owns 37,446 shares of the bank's stock valued at $608,000 after buying an additional 25,207 shares during the last quarter. Finally, Franklin Resources Inc. acquired a new stake in Grupo Financiero Galicia in the 4th quarter valued at approximately $270,000. 17.47% of the stock is currently owned by institutional investors.
About Grupo Financiero Galicia
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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