Royal Bank of Canada Increases Position in Grupo Financiero Galicia S.A. (NASDAQ:GGAL)

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Royal Bank of Canada boosted its holdings in shares of Grupo Financiero Galicia S.A. (NASDAQ:GGAL) by 233.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,275 shares of the bank’s stock after acquiring an additional 7,896 shares during the period. Royal Bank of Canada’s holdings in Grupo Financiero Galicia were worth $80,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in GGAL. Skandinaviska Enskilda Banken AB publ purchased a new stake in Grupo Financiero Galicia during the 1st quarter valued at about $92,000. Grantham Mayo Van Otterloo & Co. LLC grew its stake in Grupo Financiero Galicia by 17.1% during the 1st quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 13,700 shares of the bank’s stock valued at $97,000 after acquiring an additional 2,000 shares in the last quarter. Tobam grew its stake in Grupo Financiero Galicia by 73.4% during the 1st quarter. Tobam now owns 15,868 shares of the bank’s stock valued at $112,000 after acquiring an additional 6,715 shares in the last quarter. Aigen Investment Management LP purchased a new stake in shares of Grupo Financiero Galicia in the 1st quarter valued at approximately $138,000. Finally, Franklin Resources Inc. purchased a new stake in shares of Grupo Financiero Galicia in the 4th quarter valued at approximately $270,000. 17.48% of the stock is owned by institutional investors.

Several analysts have recently weighed in on the stock. BidaskClub cut shares of Grupo Financiero Galicia from a “hold” rating to a “sell” rating in a research note on Tuesday, June 2nd. HSBC cut shares of Grupo Financiero Galicia from a “hold” rating to a “reduce” rating in a research note on Tuesday, July 21st. Zacks Investment Research cut shares of Grupo Financiero Galicia from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 15th. Finally, Citigroup cut shares of Grupo Financiero Galicia from a “neutral” rating to a “sell” rating in a research note on Thursday, May 28th. Eight research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. The stock has an average rating of “Sell” and an average target price of $19.75.

Shares of GGAL stock opened at $12.00 on Friday. The firm’s 50 day moving average price is $10.82 and its 200-day moving average price is $10.50. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.43 and a current ratio of 1.10. Grupo Financiero Galicia S.A. has a one year low of $5.66 and a one year high of $38.69. The firm has a market cap of $1.71 billion, a P/E ratio of 2.17 and a beta of 1.53.

Grupo Financiero Galicia (NASDAQ:GGAL) last issued its quarterly earnings data on Wednesday, June 10th. The bank reported $0.95 EPS for the quarter, missing the consensus estimate of $1.11 by ($0.16). Grupo Financiero Galicia had a return on equity of 39.23% and a net margin of 27.10%. The company had revenue of $506.60 million during the quarter, compared to analyst estimates of $601.34 million. As a group, research analysts predict that Grupo Financiero Galicia S.A. will post 3.7 EPS for the current fiscal year.

Grupo Financiero Galicia Company Profile

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.

Read More: Cost of equity and a company’s balance sheet

Institutional Ownership by Quarter for Grupo Financiero Galicia (NASDAQ:GGAL)

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