Grupo Financiero Galicia (NASDAQ:GGAL) Shares Down 5.7%

Grupo Financiero Galicia S.A. (NASDAQ:GGAL) shares fell 5.7% during mid-day trading on Tuesday . The stock traded as low as $13.17 and last traded at $13.25, 1,386,100 shares traded hands during trading. A decline of 12% from the average session volume of 1,576,594 shares. The stock had previously closed at $14.05.

Several analysts recently weighed in on the stock. JPMorgan Chase & Co. raised shares of Grupo Financiero Galicia from an “underweight” rating to a “neutral” rating and reduced their target price for the company from $26.00 to $20.00 in a report on Wednesday, August 14th. Credit Suisse Group cut shares of Grupo Financiero Galicia from a “neutral” rating to an “underperform” rating in a report on Tuesday, October 29th. BidaskClub raised shares of Grupo Financiero Galicia from a “hold” rating to a “buy” rating in a report on Saturday, December 7th. Itau BBA Securities reaffirmed an “underperform” rating on shares of Grupo Financiero Galicia in a report on Monday. Finally, Zacks Investment Research cut shares of Grupo Financiero Galicia from a “strong-buy” rating to a “hold” rating in a report on Friday, December 6th. Four investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. Grupo Financiero Galicia presently has an average rating of “Hold” and an average price target of $21.00.

The company’s fifty day moving average is $12.58 and its two-hundred day moving average is $21.01. The stock has a market cap of $1.99 billion, a price-to-earnings ratio of 3.89 and a beta of 1.28. The company has a quick ratio of 1.05, a current ratio of 1.18 and a debt-to-equity ratio of 0.77.

Grupo Financiero Galicia (NASDAQ:GGAL) last issued its earnings results on Wednesday, November 13th. The bank reported $1.65 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.00 by $0.65. The firm had revenue of $325.58 million for the quarter, compared to analysts’ expectations of $576.60 million. Grupo Financiero Galicia had a net margin of 29.24% and a return on equity of 46.23%. Sell-side analysts predict that Grupo Financiero Galicia S.A. will post 4.19 EPS for the current fiscal year.

A number of large investors have recently modified their holdings of the stock. BlackRock Inc. increased its stake in Grupo Financiero Galicia by 139.1% in the second quarter. BlackRock Inc. now owns 6,883,396 shares of the bank’s stock valued at $244,360,000 after purchasing an additional 4,004,132 shares during the last quarter. State Street Corp increased its stake in Grupo Financiero Galicia by 0.6% in the third quarter. State Street Corp now owns 3,195,390 shares of the bank’s stock valued at $41,540,000 after purchasing an additional 20,292 shares during the last quarter. Royal Bank of Canada increased its stake in Grupo Financiero Galicia by 7.8% in the second quarter. Royal Bank of Canada now owns 2,390,087 shares of the bank’s stock valued at $84,848,000 after purchasing an additional 173,441 shares during the last quarter. Baillie Gifford & Co. increased its stake in Grupo Financiero Galicia by 1.2% in the second quarter. Baillie Gifford & Co. now owns 1,003,429 shares of the bank’s stock valued at $35,622,000 after purchasing an additional 11,888 shares during the last quarter. Finally, FMR LLC increased its stake in Grupo Financiero Galicia by 6.9% in the first quarter. FMR LLC now owns 971,125 shares of the bank’s stock valued at $24,783,000 after purchasing an additional 63,062 shares during the last quarter. 20.40% of the stock is currently owned by hedge funds and other institutional investors.

Grupo Financiero Galicia Company Profile (NASDAQ:GGAL)

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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