Grupo Financiero Galicia (NASDAQ:GGAL) Upgraded at HSBC

HSBC upgraded shares of Grupo Financiero Galicia (NASDAQ:GGAL) from a reduce rating to a hold rating in a research note issued to investors on Friday, The Fly reports.

A number of other research firms have also commented on GGAL. ValuEngine lowered Grupo Financiero Galicia from a sell rating to a strong sell rating in a research report on Tuesday, September 1st. Zacks Investment Research raised Grupo Financiero Galicia from a strong sell rating to a hold rating in a research report on Monday, September 14th. Citigroup lowered Grupo Financiero Galicia from a neutral rating to a sell rating in a research report on Thursday, May 28th. Finally, BidaskClub lowered Grupo Financiero Galicia from a sell rating to a strong sell rating in a research report on Saturday, August 29th. Five analysts have rated the stock with a sell rating and two have given a hold rating to the stock. The company currently has a consensus rating of Sell and an average price target of $10.00.

Shares of NASDAQ:GGAL opened at $7.40 on Friday. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of 1.74 and a beta of 1.53. The stock’s 50 day moving average is $10.14 and its 200-day moving average is $9.40. Grupo Financiero Galicia has a twelve month low of $5.66 and a twelve month high of $17.70. The company has a quick ratio of 1.43, a current ratio of 0.89 and a debt-to-equity ratio of 0.44.

Large investors have recently added to or reduced their stakes in the business. Royal Bank of Canada raised its holdings in shares of Grupo Financiero Galicia by 233.7% in the 1st quarter. Royal Bank of Canada now owns 11,275 shares of the bank’s stock valued at $80,000 after acquiring an additional 7,896 shares in the last quarter. Skandinaviska Enskilda Banken AB publ purchased a new position in shares of Grupo Financiero Galicia during the 1st quarter valued at about $92,000. Grantham Mayo Van Otterloo & Co. LLC raised its holdings in shares of 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 buying an additional 2,000 shares in the last quarter. Envestnet Asset Management Inc. purchased a new position in shares of Grupo Financiero Galicia during the 2nd quarter valued at about $101,000. Finally, Aigen Investment Management LP purchased a new position in shares of Grupo Financiero Galicia during the 1st quarter valued at about $138,000. 10.85% of the stock is currently owned by hedge funds and other institutional investors.

About Grupo Financiero Galicia

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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