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.
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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