JPMorgan Chase & Co. Has Lowered Expectations for Grupo Financiero Galicia (NASDAQ:GGAL) Stock Price

Grupo Financiero Galicia (NASDAQ:GGAL) had its target price dropped by equities research analysts at JPMorgan Chase & Co. from $75.00 to $72.00 in a report released on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the bank’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 45.04% from the company’s previous close.

A number of other research analysts also recently weighed in on GGAL. The Goldman Sachs Group raised Grupo Financiero Galicia to a “hold” rating in a research note on Monday, November 10th. Wall Street Zen cut Grupo Financiero Galicia from a “hold” rating to a “sell” rating in a research note on Saturday, February 7th. Weiss Ratings reissued a “sell (d+)” rating on shares of Grupo Financiero Galicia in a research note on Monday, December 29th. Zacks Research downgraded shares of Grupo Financiero Galicia from a “hold” rating to a “strong sell” rating in a report on Monday, February 9th. Finally, UBS Group started coverage on Grupo Financiero Galicia in a report on Wednesday, November 19th. They set a “hold” rating and a $60.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $65.50.

Grupo Financiero Galicia Price Performance

GGAL stock opened at $49.64 on Thursday. The business has a fifty day moving average price of $52.25 and a 200 day moving average price of $45.99. Grupo Financiero Galicia has a fifty-two week low of $25.89 and a fifty-two week high of $66.24. The stock has a market capitalization of $7.32 billion, a price-to-earnings ratio of 25.07 and a beta of 1.44.

Hedge Funds Weigh In On Grupo Financiero Galicia

Several hedge funds and other institutional investors have recently modified their holdings of GGAL. Hantz Financial Services Inc. grew its holdings in shares of Grupo Financiero Galicia by 131.6% during the 3rd quarter. Hantz Financial Services Inc. now owns 938 shares of the bank’s stock valued at $26,000 after purchasing an additional 533 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its position in shares of Grupo Financiero Galicia by 4,942.9% during the third quarter. Caitong International Asset Management Co. Ltd now owns 2,118 shares of the bank’s stock worth $58,000 after buying an additional 2,076 shares during the period. SBI Securities Co. Ltd. grew its holdings in Grupo Financiero Galicia by 240.5% during the 2nd quarter. SBI Securities Co. Ltd. now owns 1,202 shares of the bank’s stock worth $61,000 after acquiring an additional 849 shares during the period. State of Wyoming bought a new stake in Grupo Financiero Galicia in the fourth quarter worth approximately $74,000. Finally, Acuitas Investments LLC bought a new stake in shares of Grupo Financiero Galicia in the 3rd quarter valued at $110,000.

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.