Grupo Financiero Galicia (NASDAQ:GGAL) Shares Down 5.5%

Grupo Financiero Galicia S.A. (NASDAQ:GGAL) shares were down 5.5% on Friday . The stock traded as low as $11.01 and last traded at $11.13, approximately 1,937,400 shares traded hands during mid-day trading. An increase of 15% from the average daily volume of 1,682,207 shares. The stock had previously closed at $11.78.

Several research analysts recently weighed in on GGAL shares. Zacks Investment Research raised Grupo Financiero Galicia from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a research report on Wednesday, July 3rd. JPMorgan Chase & Co. raised Grupo Financiero Galicia from an “underweight” rating to a “neutral” rating and cut their target price for the stock from $26.00 to $20.00 in a research report on Wednesday, August 14th. Morgan Stanley lowered Grupo Financiero Galicia from an “overweight” rating to an “underweight” rating in a research report on Monday, August 12th. Scotiabank began coverage on Grupo Financiero Galicia in a research report on Wednesday, August 7th. They issued an “underperform” rating and a $27.00 target price on the stock. Finally, ValuEngine lowered Grupo Financiero Galicia from a “hold” rating to a “sell” rating in a research report on Monday, July 22nd. Four investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. Grupo Financiero Galicia presently has a consensus rating of “Hold” and an average target price of $27.25.

The firm has a 50-day simple moving average of $21.81 and a 200 day simple moving average of $26.88. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.93 and a quick ratio of 1.05. The company has a market capitalization of $1.71 billion, a PE ratio of 3.10 and a beta of 1.22.

Grupo Financiero Galicia (NASDAQ:GGAL) last released its quarterly earnings data on Wednesday, August 14th. The bank reported $1.85 EPS for the quarter, beating the consensus estimate of $1.04 by $0.81. Grupo Financiero Galicia had a return on equity of 41.32% and a net margin of 25.77%. The company had revenue of $224.71 million for the quarter, compared to analyst estimates of $543.07 million. Equities research analysts expect that Grupo Financiero Galicia S.A. will post 4.09 EPS for the current fiscal year.

Large investors have recently added to or reduced their stakes in the business. Aperio Group LLC acquired a new stake in shares of Grupo Financiero Galicia during the second quarter valued at about $33,000. Capital Investment Advisory Services LLC acquired a new stake in shares of Grupo Financiero Galicia during the second quarter valued at about $43,000. Commonwealth Bank of Australia grew its stake in shares of Grupo Financiero Galicia by 19.2% during the first quarter. Commonwealth Bank of Australia now owns 11,065 shares of the bank’s stock valued at $281,000 after acquiring an additional 1,782 shares in the last quarter. Bank of America Corp DE grew its stake in shares of 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 valued at $184,000 after acquiring an additional 2,504 shares in the last quarter. Finally, NumerixS Investment Technologies Inc grew its stake in Grupo Financiero Galicia by 69.8% in the first quarter. NumerixS Investment Technologies Inc now owns 9,000 shares of the bank’s stock worth $224,000 after purchasing an additional 3,700 shares in the last quarter. 29.89% of the stock is currently owned by institutional investors.

Grupo Financiero Galicia Company Profile (NASDAQ:GGAL)

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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