Grupo Financiero Galicia (NASDAQ:GGAL) Downgraded by Itau BBA Securities to “Market Perform”

Grupo Financiero Galicia (NASDAQ:GGAL) was downgraded by Itau BBA Securities from an “outperform” rating to a “market perform” rating in a research note issued on Thursday, MarketBeat reports.

A number of other analysts have also weighed in on GGAL. JPMorgan Chase & Co. upped their target price on Grupo Financiero Galicia from $72.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, June 25th. Wall Street Zen upgraded Grupo Financiero Galicia from a “sell” rating to a “hold” rating in a report on Saturday, June 27th. Zacks Research raised Grupo Financiero Galicia from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 14th. Finally, Weiss Ratings cut Grupo Financiero Galicia from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, August 14th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $68.33.

Grupo Financiero Galicia Trading Up 1.6%

GGAL opened at $45.01 on Thursday. Grupo Financiero Galicia has a 12-month low of $25.89 and a 12-month high of $62.51. The business’s fifty day simple moving average is $47.79 and its 200-day simple moving average is $46.81. The company has a market capitalization of $7.23 billion, a price-to-earnings ratio of 18.37, a PEG ratio of 0.23 and a beta of 1.29.

Grupo Financiero Galicia (NASDAQ:GGAL) last issued its earnings results on Tuesday, August 25th. The bank reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.16. The business had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.70 billion. On average, equities research analysts predict that Grupo Financiero Galicia will post 3.94 EPS for the current year.

Insider Buying and Selling at Grupo Financiero Galicia

In related news, Director Silvestre Vila Moret acquired 224,000 shares of the business’s stock in a transaction dated Wednesday, July 8th. The shares were purchased at an average price of $5.36 per share, for a total transaction of $1,200,640.00. Following the completion of the acquisition, the director directly owned 3,000,000 shares in the company, valued at $16,080,000. The trade was a 8.07% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders bought a total of 802,791 shares of company stock worth $4,253,109 in the last 90 days.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. NewEdge Advisors LLC lifted its stake in shares of Grupo Financiero Galicia by 149.5% during the first quarter. NewEdge Advisors LLC now owns 9,003 shares of the bank’s stock worth $490,000 after buying an additional 5,394 shares during the period. Geode Capital Management LLC raised its stake 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 acquiring an additional 362 shares during the last quarter. Cetera Investment Advisers raised its stake 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 acquiring an additional 226 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Grupo Financiero Galicia by 93.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 75,302 shares of the bank’s stock worth $3,794,000 after acquiring an additional 36,326 shares during the period. Finally, Marshall Wace LLP purchased a new stake in Grupo Financiero Galicia during the 2nd quarter valued at about $5,299,000.

Grupo Financiero Galicia Company Profile

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.