Grupo Financiero Galicia (NASDAQ:GGAL) Given New $85.00 Price Target at JPMorgan Chase & Co.

Grupo Financiero Galicia (NASDAQ:GGAL) had its price target lifted by stock analysts at JPMorgan Chase & Co. from $72.00 to $85.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the bank’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 72.29% from the stock’s current price.

A number of other equities research analysts also recently weighed in on GGAL. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Grupo Financiero Galicia in a report on Friday, March 27th. Wall Street Zen lowered Grupo Financiero Galicia from a “hold” rating to a “sell” rating in a research note on Saturday, May 23rd. Finally, Zacks Research upgraded Grupo Financiero Galicia from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 14th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Grupo Financiero Galicia has an average rating of “Hold” and an average target price of $68.33.

Grupo Financiero Galicia Price Performance

Shares of NASDAQ:GGAL traded up $0.23 during midday trading on Thursday, hitting $49.34. The stock had a trading volume of 96,656 shares, compared to its average volume of 1,228,122. The company’s 50-day moving average price is $47.20 and its 200-day moving average price is $48.50. Grupo Financiero Galicia has a fifty-two week low of $25.89 and a fifty-two week high of $62.51. The company has a quick ratio of 1.16, a current ratio of 1.13 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $7.92 billion, a P/E ratio of 21.63, a price-to-earnings-growth ratio of 0.36 and a beta of 1.32.

Grupo Financiero Galicia (NASDAQ:GGAL) last posted its quarterly earnings results on Tuesday, May 26th. The bank reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.07). The firm had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.70 billion. Grupo Financiero Galicia had a return on equity of 18.96% and a net margin of 7.13%. As a group, equities research analysts predict that Grupo Financiero Galicia will post 3.69 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. NewEdge Advisors LLC boosted its holdings in shares of Grupo Financiero Galicia by 149.5% during the 1st quarter. NewEdge Advisors LLC now owns 9,003 shares of the bank’s stock valued at $490,000 after acquiring an additional 5,394 shares in the last quarter. Geode Capital Management LLC increased its holdings in Grupo Financiero Galicia by 0.7% in the 2nd quarter. Geode Capital Management LLC now owns 54,525 shares of the bank’s stock worth $2,748,000 after purchasing an additional 362 shares in the last quarter. Cetera Investment Advisers increased its holdings in Grupo Financiero Galicia by 1.9% in the 2nd quarter. Cetera Investment Advisers now owns 11,824 shares of the bank’s stock worth $596,000 after purchasing an additional 226 shares in the last quarter. JPMorgan Chase & Co. raised its position in Grupo Financiero Galicia by 93.2% in the second quarter. JPMorgan Chase & Co. now owns 75,302 shares of the bank’s stock valued at $3,794,000 after purchasing an additional 36,326 shares during the last quarter. Finally, Marshall Wace LLP bought a new position in Grupo Financiero Galicia in the second quarter valued at about $5,299,000.

About Grupo Financiero Galicia

Grupo Financiero Galicia is a diversified financial services holding company headquartered in Buenos Aires, Argentina. As one of the country’s largest private-sector financial institutions, the company provides a comprehensive suite of banking, insurance and investment products to individual, small-to-medium enterprise (SME) and corporate clients. Its operations span retail and commercial banking, asset management, leasing, factoring and pension fund administration.

The core banking segment offers deposit and lending services, credit and debit cards, payment solutions and digital banking platforms.