Grupo Financiero Galicia (NASDAQ:GGAL) Lowered to Strong Sell Rating by Zacks Research

Grupo Financiero Galicia (NASDAQ:GGAL) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Monday,Zacks.com reports.

GGAL has been the topic of several other research reports. JPMorgan Chase & Co. raised Grupo Financiero Galicia from a “neutral” rating to an “overweight” rating and increased their target price for the company from $46.00 to $75.00 in a research report on Tuesday, October 28th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Grupo Financiero Galicia in a research report on Monday, December 29th. Wall Street Zen lowered Grupo Financiero Galicia from a “hold” rating to a “sell” rating in a research note on Saturday. Citigroup raised shares of Grupo Financiero Galicia from a “neutral” rating to a “buy” rating in a research report on Monday, November 3rd. Finally, The Goldman Sachs Group raised Grupo Financiero Galicia to a “hold” rating in a research report on Monday, November 10th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $66.25.

Grupo Financiero Galicia Stock Performance

NASDAQ GGAL opened at $51.50 on Monday. The company has a market cap of $7.59 billion, a PE ratio of 26.01 and a beta of 1.44. The firm’s 50 day moving average price is $52.77 and its 200-day moving average price is $46.14. Grupo Financiero Galicia has a 52-week low of $25.89 and a 52-week high of $66.24.

Institutional Investors Weigh In On Grupo Financiero Galicia

A number of large investors have recently made changes to their positions in GGAL. Hantz Financial Services Inc. increased 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 acquiring an additional 533 shares during the period. Caitong International Asset Management Co. Ltd lifted its position in Grupo Financiero Galicia by 4,942.9% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 2,118 shares of the bank’s stock worth $58,000 after acquiring an additional 2,076 shares during the period. SBI Securities Co. Ltd. grew its stake in Grupo Financiero Galicia by 240.5% during the 2nd quarter. SBI Securities Co. Ltd. now owns 1,202 shares of the bank’s stock valued at $61,000 after purchasing an additional 849 shares during the last quarter. State of Wyoming purchased a new position in shares of Grupo Financiero Galicia in the fourth quarter worth about $74,000. Finally, Acuitas Investments LLC acquired a new stake in shares of Grupo Financiero Galicia during the third quarter worth about $110,000.

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.