Grupo Financiero Galicia (GGAL) Shares Gap Up to $26.67

Grupo Financiero Galicia S.A. (NASDAQ:GGAL)’s share price gapped up prior to trading on Friday . The stock had previously closed at $29.73, but opened at $26.67. Grupo Financiero Galicia shares last traded at $26.40, with a volume of 35919 shares trading hands.

Several equities analysts recently issued reports on GGAL shares. Zacks Investment Research cut shares of Grupo Financiero Galicia from a “hold” rating to a “strong sell” rating in a research note on Wednesday, September 5th. Citigroup cut shares of Grupo Financiero Galicia from a “buy” rating to a “neutral” rating in a research note on Thursday, August 30th. BidaskClub cut shares of Grupo Financiero Galicia from a “sell” rating to a “strong sell” rating in a research note on Tuesday, October 9th. TheStreet cut shares of Grupo Financiero Galicia from a “b-” rating to a “c+” rating in a research note on Friday, August 24th. Finally, ValuEngine lowered shares of Grupo Financiero Galicia from a “sell” rating to a “strong sell” rating in a report on Monday, August 20th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $87.00.

The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.20 and a current ratio of 1.20.

Grupo Financiero Galicia (NASDAQ:GGAL) last issued its quarterly earnings results on Friday, August 17th. The bank reported $0.85 EPS for the quarter, topping the consensus estimate of $0.84 by $0.01. The company had revenue of $483.52 million during the quarter, compared to analysts’ expectations of $392.51 million. On average, equities analysts anticipate that Grupo Financiero Galicia S.A. will post 3.16 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Newfoundland Capital Management purchased a new stake in Grupo Financiero Galicia in the 2nd quarter worth $1,357,000. NN Investment Partners Holdings N.V. increased its holdings in Grupo Financiero Galicia by 62.4% in the 2nd quarter. NN Investment Partners Holdings N.V. now owns 6,900 shares of the bank’s stock worth $228,000 after acquiring an additional 2,651 shares in the last quarter. AMS Capital Ltda purchased a new stake in Grupo Financiero Galicia in the 2nd quarter worth $3,001,000. Globeflex Capital L P increased its holdings in Grupo Financiero Galicia by 95.0% in the 2nd quarter. Globeflex Capital L P now owns 14,800 shares of the bank’s stock worth $488,000 after acquiring an additional 7,209 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in Grupo Financiero Galicia in the 2nd quarter worth $730,000. 28.33% of the stock is owned by 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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