Grupo Financiero Galicia S.A. (GGAL) Rating Lowered to Underperform at Santander

Santander cut shares of Grupo Financiero Galicia S.A. (NASDAQ:GGAL) from a hold rating to an underperform rating in a research report released on Friday morning, The Fly reports.

A number of other brokerages have also weighed in on GGAL. Citigroup Inc. lowered shares of Grupo Financiero Galicia from a neutral rating to a sell rating in a research note on Wednesday, June 7th. Zacks Investment Research raised shares of Grupo Financiero Galicia from a hold rating to a strong-buy rating and set a $54.00 target price on the stock in a research note on Tuesday, June 6th. Finally, BidaskClub lowered shares of Grupo Financiero Galicia from a strong-buy rating to a buy rating in a research note on Friday, June 9th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $44.50.

Grupo Financiero Galicia (NASDAQ:GGAL) opened at 45.13 on Friday. The stock’s 50 day moving average is $41.31 and its 200 day moving average is $40.28. The firm has a market cap of $5.87 billion, a price-to-earnings ratio of 15.13 and a beta of 1.27. Grupo Financiero Galicia has a one year low of $23.23 and a one year high of $48.00.

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Institutional investors and hedge funds have recently made changes to their positions in the company. Gilder Gagnon Howe & Co. LLC bought a new stake in shares of Grupo Financiero Galicia during the 1st quarter valued at about $107,000. Bank of America Corp DE boosted its stake in shares of Grupo Financiero Galicia by 39.5% during the 1st quarter. Bank of America Corp DE now owns 3,132 shares of the bank’s stock valued at $120,000 after purchasing an additional 887 shares in the last quarter. Advisor Group Inc. boosted its stake in shares of Grupo Financiero Galicia by 126.5% during the 2nd quarter. Advisor Group Inc. now owns 2,997 shares of the bank’s stock valued at $128,000 after purchasing an additional 1,674 shares in the last quarter. Marshall Wace LLP bought a new stake in shares of Grupo Financiero Galicia during the 2nd quarter valued at about $212,000. Finally, Private Advisory Group LLC bought a new stake in shares of Grupo Financiero Galicia during the 2nd quarter valued at about $266,000. 25.79% of the stock is currently owned by hedge funds and other institutional investors.

Grupo Financiero Galicia Company Profile

Grupo Financiero Galicia SA (Grupo Financiero Galicia) is a financial services holding company. The Company’s segments include Banking, Regional Credit Cards, CFA, Insurance and Other Grupo Galicia Businesses. Banco de Galicia y Buenos Aires SA (Banco Galicia) is a subsidiary of the Company. Its banking business segment represents Banco Galicia consolidated line by line with Banco Galicia Uruguay SA (Galicia Uruguay).

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