Grupo Financiero Galicia (GGAL) Lifted to “Sell” at BidaskClub

BidaskClub upgraded shares of Grupo Financiero Galicia (NASDAQ:GGAL) from a strong sell rating to a sell rating in a research report released on Monday morning.

A number of other brokerages have also recently commented on GGAL. ValuEngine raised Grupo Financiero Galicia from a strong sell rating to a sell rating in a research note on Thursday, November 1st. Bank of America cut Grupo Financiero Galicia from a buy rating to a neutral rating in a research note on Thursday, October 25th. Zacks Investment Research cut Grupo Financiero Galicia from a hold rating to a strong sell rating in a research note on Wednesday, September 5th. Citigroup cut Grupo Financiero Galicia from a buy rating to a neutral rating in a research note on Thursday, August 30th. Finally, TheStreet cut Grupo Financiero Galicia from a b- rating to a c+ rating in a research note on Friday, August 24th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $87.00.

Shares of NASDAQ:GGAL opened at $26.04 on Monday. Grupo Financiero Galicia has a 1-year low of $18.30 and a 1-year high of $73.45. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.46.

Several hedge funds have recently made changes to their positions in the company. Artisan Partners Limited Partnership grew its position in shares of Grupo Financiero Galicia by 203.3% in the 2nd quarter. Artisan Partners Limited Partnership now owns 1,678,503 shares of the bank’s stock valued at $55,357,000 after purchasing an additional 1,125,035 shares during the period. Baillie Gifford & Co. acquired a new position in shares of Grupo Financiero Galicia in the 3rd quarter valued at approximately $25,409,000. FMR LLC grew its position in shares of Grupo Financiero Galicia by 831.3% in the 2nd quarter. FMR LLC now owns 640,138 shares of the bank’s stock valued at $21,112,000 after purchasing an additional 571,400 shares during the period. BlackRock Inc. grew its position in shares of Grupo Financiero Galicia by 50.4% in the 3rd quarter. BlackRock Inc. now owns 1,649,781 shares of the bank’s stock valued at $41,953,000 after purchasing an additional 552,907 shares during the period. Finally, Alliancebernstein L.P. grew its position in shares of Grupo Financiero Galicia by 29.4% in the 3rd quarter. Alliancebernstein L.P. now owns 1,723,188 shares of the bank’s stock valued at $43,821,000 after purchasing an additional 391,320 shares during the period. 24.77% of the stock is owned by institutional investors.

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.

Further Reading: Reverse Stock Split

Receive News & Ratings for Grupo Financiero Galicia Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Grupo Financiero Galicia and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply