Grupo Financiero Galicia (NASDAQ:GGAL) Upgraded by JPMorgan Chase & Co. to “Neutral”

JPMorgan Chase & Co. upgraded shares of Grupo Financiero Galicia (NASDAQ:GGAL) from an underweight rating to a neutral rating in a report issued on Wednesday, BenzingaRatingsTable reports. JPMorgan Chase & Co. currently has $20.00 price target on the bank’s stock, down from their prior price target of $26.00.

A number of other brokerages also recently commented on GGAL. Zacks Investment Research raised Grupo Financiero Galicia from a hold rating to a buy rating and set a $40.00 price target for the company in a research report on Wednesday, July 3rd. BidaskClub downgraded Grupo Financiero Galicia from a buy rating to a hold rating in a research report on Tuesday, August 6th. ValuEngine downgraded Grupo Financiero Galicia from a hold rating to a sell rating in a research report on Monday, July 22nd. Scotiabank assumed coverage on Grupo Financiero Galicia in a research report on Wednesday, August 7th. They set an underperform rating and a $27.00 price target for the company. Finally, Credit Suisse Group downgraded Grupo Financiero Galicia from an outperform rating to a neutral rating and decreased their price target for the company from $45.00 to $22.00 in a research report on Tuesday. Four investment analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $27.25.

Shares of GGAL traded up $1.69 on Wednesday, reaching $18.27. 3,400,319 shares of the company’s stock traded hands, compared to its average volume of 2,467,593. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a market capitalization of $2.39 billion, a PE ratio of 5.09 and a beta of 0.85. The business has a 50 day moving average price of $34.89. Grupo Financiero Galicia has a 52-week low of $15.17 and a 52-week high of $39.22.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Northern Trust Corp raised its stake in Grupo Financiero Galicia by 86.5% during the fourth quarter. Northern Trust Corp now owns 158,645 shares of the bank’s stock worth $4,374,000 after acquiring an additional 73,598 shares in the last quarter. Geode Capital Management LLC raised its stake in Grupo Financiero Galicia by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 43,422 shares of the bank’s stock worth $1,197,000 after acquiring an additional 430 shares in the last quarter. Bank of America Corp DE raised its stake in Grupo Financiero Galicia by 60.2% during the fourth quarter. Bank of America Corp DE now owns 6,665 shares of the bank’s stock worth $184,000 after acquiring an additional 2,504 shares in the last quarter. Legal & General Group Plc raised its stake in Grupo Financiero Galicia by 214.3% during the fourth quarter. Legal & General Group Plc now owns 76,715 shares of the bank’s stock worth $2,115,000 after acquiring an additional 52,309 shares in the last quarter. Finally, FNY Investment Advisers LLC acquired a new position in Grupo Financiero Galicia during the first quarter worth $127,000. 25.57% of the stock is owned by institutional investors and hedge funds.

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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Analyst Recommendations for Grupo Financiero Galicia (NASDAQ:GGAL)

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