Grupo Financiero Galicia S.A. (GGAL) Raised to “Hold” at BidaskClub
Grupo Financiero Galicia S.A. (NASDAQ:GGAL) was upgraded by investment analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued on Monday.
Several other research firms have also recently issued reports on GGAL. Zacks Investment Research upgraded Grupo Financiero Galicia from a “hold” rating to a “strong-buy” rating and set a $54.00 price objective on the stock in a report on Tuesday, June 6th. Citigroup Inc. cut Grupo Financiero Galicia from a “neutral” rating to a “sell” rating in a report on Wednesday, June 7th.
Shares of Grupo Financiero Galicia (NASDAQ:GGAL) traded up 11.09% during trading on Monday, reaching $42.17. The company had a trading volume of 1,450,399 shares. The stock’s 50-day moving average price is $39.55 and its 200-day moving average price is $38.79. Grupo Financiero Galicia has a 52 week low of $23.23 and a 52 week high of $47.34. The company has a market capitalization of $5.48 billion, a PE ratio of 14.32 and a beta of 1.31.
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Several hedge funds and other institutional investors have recently modified their holdings of the company. Gilder Gagnon Howe & Co. LLC bought a new position in shares of Grupo Financiero Galicia during the first quarter valued at $107,000. Advisor Group Inc. boosted its position in shares of Grupo Financiero Galicia by 126.5% in the second quarter. Advisor Group Inc. now owns 2,997 shares of the bank’s stock valued at $128,000 after buying an additional 1,674 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Grupo Financiero Galicia by 39.5% in the first quarter. Bank of America Corp DE now owns 3,132 shares of the bank’s stock valued at $120,000 after buying an additional 887 shares in the last quarter. Marshall Wace LLP bought a new position in shares of Grupo Financiero Galicia during the second quarter valued at $212,000. Finally, LSV Asset Management boosted its position in shares of Grupo Financiero Galicia by 59.1% in the second quarter. LSV Asset Management now owns 7,000 shares of the bank’s stock valued at $298,000 after buying an additional 2,600 shares in the last quarter. Institutional investors and hedge funds own 30.55% of the company’s stock.
Grupo Financiero Galicia Company Profile
Grupo Financiero Galicia SA (Grupo Financiero Galicia) is a financial services holding company. The Company’s segments include Banking, Regional Credit Cards, CFA, Insurance and Other Grupo Galicia Businesses. Banco de Galicia y Buenos Aires SA (Banco Galicia) is a subsidiary of the Company. Its banking business segment represents Banco Galicia consolidated line by line with Banco Galicia Uruguay SA (Galicia Uruguay).
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