Hsbc Holdings PLC Cuts Stock Holdings in Grupo Financiero Galicia S.A. $GGAL

Hsbc Holdings PLC reduced its stake in Grupo Financiero Galicia S.A. (NASDAQ:GGAL) by 7.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 172,686 shares of the bank’s stock after selling 14,166 shares during the period. Hsbc Holdings PLC’s holdings in Grupo Financiero Galicia were worth $7,767,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Rockefeller Capital Management L.P. purchased a new stake in Grupo Financiero Galicia during the 4th quarter worth about $39,000. Caitong International Asset Management Co. Ltd grew its position in shares of Grupo Financiero Galicia by 4,942.9% during the third quarter. Caitong International Asset Management Co. Ltd now owns 2,118 shares of the bank’s stock worth $58,000 after buying an additional 2,076 shares in the last quarter. State of Wyoming acquired a new position in shares of Grupo Financiero Galicia during the fourth quarter worth about $74,000. Leonteq Securities AG grew its position in shares of Grupo Financiero Galicia by 563.2% during the first quarter. Leonteq Securities AG now owns 2,036 shares of the bank’s stock worth $95,000 after buying an additional 1,729 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Grupo Financiero Galicia during the second quarter worth approximately $151,000.

Analyst Ratings Changes

GGAL has been the topic of several analyst reports. JPMorgan Chase & Co. raised their target price on shares of Grupo Financiero Galicia from $72.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, June 25th. Wall Street Zen upgraded shares of Grupo Financiero Galicia from a “sell” rating to a “hold” rating in a report on Saturday, June 27th. Zacks Research raised shares of Grupo Financiero Galicia from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 14th. Finally, Weiss Ratings upgraded shares of Grupo Financiero Galicia from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $68.33.

Grupo Financiero Galicia Stock Performance

Shares of GGAL opened at $50.15 on Friday. The stock has a 50 day moving average price of $49.87 and a 200 day moving average price of $48.29. The company has a quick ratio of 1.16, a current ratio of 1.13 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $8.06 billion, a price-to-earnings ratio of 22.09, a price-to-earnings-growth ratio of 0.36 and a beta of 1.34. Grupo Financiero Galicia S.A. has a 52-week low of $25.89 and a 52-week high of $62.51.

Grupo Financiero Galicia (NASDAQ:GGAL) last issued its quarterly earnings data on Tuesday, May 26th. The bank reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.07). The firm had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.70 billion. Research analysts predict that Grupo Financiero Galicia S.A. will post 3.74 EPS for the current fiscal year.

Insider Transactions at Grupo Financiero Galicia

In other news, Director Silvestre Vila Moret acquired 224,000 shares of the company’s stock in a transaction on Wednesday, July 8th. The shares were bought at an average price of $5.36 per share, with a total value of $1,200,640.00. Following the completion of the acquisition, the director owned 3,000,000 shares in the company, valued at $16,080,000. This trade represents a 8.07% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have acquired a total of 802,791 shares of company stock valued at $4,253,109 in the last three months.

About Grupo Financiero Galicia

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.