Grupo Financiero Galicia (GGAL) Downgraded by Zacks Investment Research

Grupo Financiero Galicia (NASDAQ:GGAL) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Monday, November 20th.

According to Zacks, “Grupo Financiero Galicia SA. is involved in the Financial Services Industry. Their principal activity is to continue to be a financial and investment services holding company and to fulfill the banking services activities of Banco Galicia. “

Several other equities research analysts have also issued reports on the stock. UBS raised shares of Grupo Financiero Galicia from a “neutral” rating to a “buy” rating in a research report on Wednesday, October 4th. Citigroup raised shares of Grupo Financiero Galicia from a “sell” rating to a “neutral” rating in a report on Friday, September 8th. Santander lowered shares of Grupo Financiero Galicia from a “hold” rating to an “underperform” rating in a report on Friday, September 8th. Finally, BidaskClub raised shares of Grupo Financiero Galicia from a “sell” rating to a “hold” rating in a report on Monday, August 14th. Two analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the stock. Grupo Financiero Galicia presently has an average rating of “Hold”.

Grupo Financiero Galicia (NASDAQ GGAL) traded up $0.53 during trading hours on Monday, reaching $59.63. 549,039 shares of the company’s stock were exchanged, compared to its average volume of 451,932. The stock has a market capitalization of $7,572.77, a P/E ratio of 18.61 and a beta of 1.14. Grupo Financiero Galicia has a 12 month low of $23.23 and a 12 month high of $59.76.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GGAL. Geode Capital Management LLC grew its holdings in Grupo Financiero Galicia by 38.0% during the 1st quarter. Geode Capital Management LLC now owns 29,717 shares of the bank’s stock valued at $1,124,000 after purchasing an additional 8,184 shares in the last quarter. Bank of America Corp DE grew its holdings in 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 worth $120,000 after acquiring an additional 887 shares in the last quarter. Parkwood LLC acquired a new position in Grupo Financiero Galicia during the 2nd quarter worth $563,000. Candriam Luxembourg S.C.A. acquired a new position in Grupo Financiero Galicia during the 2nd quarter worth $7,249,000. Finally, Gilder Gagnon Howe & Co. LLC grew its holdings in Grupo Financiero Galicia by 0.6% during the 2nd quarter. Gilder Gagnon Howe & Co. LLC now owns 2,836 shares of the bank’s stock worth $121,000 after acquiring an additional 17 shares in the last quarter. 32.29% of the stock is owned by institutional investors and hedge funds.

COPYRIGHT VIOLATION NOTICE: This story was published by StockNewsTimes and is the sole property of of StockNewsTimes. If you are accessing this story on another publication, it was copied illegally and reposted in violation of US and international copyright and trademark law. The correct version of this story can be accessed at https://stocknewstimes.com/2017/12/06/grupo-financiero-galicia-s-a-ggal-downgraded-by-zacks-investment-research-to-sell.html.

About Grupo Financiero Galicia

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).

Get a free copy of the Zacks research report on Grupo Financiero Galicia (GGAL)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Grupo Financiero Galicia S.A. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Grupo Financiero Galicia S.A. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply