Wall Street Zen Downgrades Grupo Financiero Galicia (NASDAQ:GGAL) to Sell

Grupo Financiero Galicia (NASDAQ:GGAL) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday.

Several other research analysts have also issued reports on the company. JPMorgan Chase & Co. raised Grupo Financiero Galicia from a “neutral” rating to an “overweight” rating and upped their target price for the company from $46.00 to $75.00 in a research report on Tuesday, October 28th. UBS Group started coverage on shares of Grupo Financiero Galicia in a report on Wednesday, November 19th. They set a “hold” rating and a $60.00 price objective on the stock. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Grupo Financiero Galicia in a research report on Monday, December 29th. The Goldman Sachs Group raised shares of Grupo Financiero Galicia to a “hold” rating in a research report on Monday, November 10th. Finally, Citigroup raised shares of Grupo Financiero Galicia from a “neutral” rating to a “buy” rating in a report on Monday, November 3rd. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $66.25.

Grupo Financiero Galicia Stock Up 2.5%

NASDAQ:GGAL opened at $49.37 on Friday. The stock has a market capitalization of $7.28 billion, a price-to-earnings ratio of 24.93 and a beta of 1.44. Grupo Financiero Galicia has a 52 week low of $25.89 and a 52 week high of $67.54. The firm has a 50 day moving average of $52.81 and a 200 day moving average of $46.18.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in GGAL. Aquamarine Financial Cayman Ltd lifted its position in Grupo Financiero Galicia by 57.9% during the fourth quarter. Aquamarine Financial Cayman Ltd now owns 2,092,309 shares of the bank’s stock valued at $113,133,000 after purchasing an additional 767,309 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Grupo Financiero Galicia by 52.2% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,937,465 shares of the bank’s stock valued at $97,629,000 after buying an additional 664,533 shares during the last quarter. RWC Asset Advisors US LLC lifted its holdings in shares of Grupo Financiero Galicia by 848.1% in the 3rd quarter. RWC Asset Advisors US LLC now owns 1,540,187 shares of the bank’s stock valued at $42,448,000 after buying an additional 1,377,735 shares during the period. INCA Investments LLC boosted its stake in shares of Grupo Financiero Galicia by 1.0% in the third quarter. INCA Investments LLC now owns 1,080,161 shares of the bank’s stock worth $29,769,000 after buying an additional 10,283 shares during the last quarter. Finally, Itau Unibanco Holding S.A. grew its holdings in Grupo Financiero Galicia by 90.5% during the second quarter. Itau Unibanco Holding S.A. now owns 893,965 shares of the bank’s stock worth $45,047,000 after acquiring an additional 424,693 shares during the period.

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.