Zacks Investment Research Downgrades Grupo Financiero Galicia (GGAL) to Strong Sell

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Zacks Investment Research lowered shares of Grupo Financiero Galicia (NASDAQ:GGAL) from a hold rating to a strong sell rating in a report issued on Wednesday morning.

According to Zacks, “Grupo Financiero Galicia SA. is involved in the Financial Services Industry. Their principal activity is to continue to be a financial and investment services holding company and to fulfill the banking services activities of Banco Galicia. “

Other equities analysts also recently issued reports about the company. ValuEngine downgraded Grupo Financiero Galicia from a sell rating to a strong sell rating in a research note on Monday, August 20th. BidaskClub downgraded Grupo Financiero Galicia from a hold rating to a sell rating in a research note on Tuesday, May 8th. Finally, Citigroup downgraded Grupo Financiero Galicia from a buy rating to a neutral rating in a research note on Thursday, August 30th. Four research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $87.00.

NASDAQ:GGAL opened at $23.69 on Wednesday. Grupo Financiero Galicia has a one year low of $18.30 and a one year high of $73.45. The company has a quick ratio of 1.19, a current ratio of 1.17 and a debt-to-equity ratio of 0.24.

Grupo Financiero Galicia (NASDAQ:GGAL) last posted its quarterly earnings results on Friday, August 17th. The bank reported $0.85 EPS for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.01. The firm had revenue of $483.52 million during the quarter, compared to analyst estimates of $392.51 million. research analysts predict that Grupo Financiero Galicia will post 3.51 EPS for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Wells Fargo & Company MN lifted its holdings in Grupo Financiero Galicia by 53.4% in the 1st quarter. Wells Fargo & Company MN now owns 373,104 shares of the bank’s stock worth $24,535,000 after purchasing an additional 129,937 shares in the last quarter. Boston Partners lifted its holdings in Grupo Financiero Galicia by 24.3% in the 1st quarter. Boston Partners now owns 62,165 shares of the bank’s stock worth $4,088,000 after purchasing an additional 12,165 shares in the last quarter. LSV Asset Management lifted its holdings in Grupo Financiero Galicia by 270.0% in the 1st quarter. LSV Asset Management now owns 33,300 shares of the bank’s stock worth $2,189,000 after purchasing an additional 24,300 shares in the last quarter. Quantitative Systematic Strategies LLC purchased a new position in Grupo Financiero Galicia in the 1st quarter worth approximately $207,000. Finally, State of New Jersey Common Pension Fund D lifted its holdings in Grupo Financiero Galicia by 37.6% in the 1st quarter. State of New Jersey Common Pension Fund D now owns 143,095 shares of the bank’s stock worth $9,410,000 after purchasing an additional 39,118 shares in the last quarter. 28.54% of the stock is currently owned by hedge funds and other institutional investors.

Grupo Financiero Galicia Company Profile

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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