BidaskClub Upgrades Grupo Financiero Galicia (GGAL) to “Buy”

BidaskClub upgraded shares of Grupo Financiero Galicia (NASDAQ:GGAL) from a hold rating to a buy rating in a research report sent to investors on Saturday.

GGAL has been the subject of several other research reports. Bank of America cut shares of Grupo Financiero Galicia from a buy rating to a neutral rating in a report on Thursday, October 25th. Zacks Investment Research raised shares of Grupo Financiero Galicia from a sell rating to a hold rating in a report on Tuesday, December 11th. Finally, ValuEngine raised shares of Grupo Financiero Galicia from a strong sell rating to a sell rating in a report on Thursday, November 1st. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company has an average rating of Buy and an average target price of $66.00.

Shares of Grupo Financiero Galicia stock opened at $31.80 on Friday. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.51. Grupo Financiero Galicia has a 1 year low of $18.30 and a 1 year high of $73.45.

Grupo Financiero Galicia (NASDAQ:GGAL) last issued its earnings results on Wednesday, November 28th. The bank reported $0.95 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.36. The business had revenue of $401.18 million for the quarter, compared to analysts’ expectations of $415.61 million. On average, sell-side analysts expect that Grupo Financiero Galicia will post 3.03 EPS for the current fiscal year.

Several institutional investors have recently modified their holdings of GGAL. Tower Research Capital LLC TRC increased its holdings in Grupo Financiero Galicia by 71.1% in the third quarter. Tower Research Capital LLC TRC now owns 6,368 shares of the bank’s stock valued at $162,000 after buying an additional 2,646 shares in the last quarter. Exane Derivatives increased its holdings in Grupo Financiero Galicia by 163.7% in the third quarter. Exane Derivatives now owns 5,686 shares of the bank’s stock valued at $146,000 after buying an additional 3,530 shares in the last quarter. Victory Capital Management Inc. purchased a new position in Grupo Financiero Galicia in the third quarter valued at $112,000. BW Gestao de Investimentos Ltda. purchased a new position in Grupo Financiero Galicia in the third quarter valued at $231,000. Finally, Alpine Global Management LLC purchased a new position in Grupo Financiero Galicia in the third quarter valued at $242,000. 22.84% of the stock is owned by hedge funds and other institutional investors.

About Grupo Financiero Galicia

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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