Grupo Financiero Galicia (GGAL) Rating Increased to Buy at BidaskClub

BidaskClub upgraded shares of Grupo Financiero Galicia (NASDAQ:GGAL) from a hold rating to a buy rating in a report issued on Friday morning, BidAskClub reports.

A number of other equities research analysts also recently issued reports on the company. JPMorgan Chase & Co. downgraded Grupo Financiero Galicia from a neutral rating to an underweight rating and lowered their price objective for the stock from $28.00 to $20.00 in a research report on Monday, April 29th. Zacks Investment Research lowered shares of Grupo Financiero Galicia from a strong-buy rating to a hold rating in a report on Friday, April 19th. ValuEngine lowered shares of Grupo Financiero Galicia from a sell rating to a strong sell rating in a report on Monday, March 25th. Finally, Bank of America lowered shares of Grupo Financiero Galicia from a neutral rating to an underperform rating in a report on Thursday, February 21st. Three analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $26.00.

Grupo Financiero Galicia stock opened at $26.60 on Friday. Grupo Financiero Galicia has a one year low of $18.30 and a one year high of $52.49. The company has a quick ratio of 1.15, a current ratio of 0.95 and a debt-to-equity ratio of 0.80.

The business also recently announced an annual dividend, which was paid on Thursday, May 16th. Shareholders of record on Thursday, May 16th were paid a dividend of $0.307 per share. The ex-dividend date was Wednesday, May 15th. This is a positive change from Grupo Financiero Galicia’s previous annual dividend of $0.00. This represents a yield of 1.26%.

Institutional investors and hedge funds have recently made changes to their positions in the business. Quantamental Technologies LLC purchased a new position in shares of Grupo Financiero Galicia in the fourth quarter worth $72,000. FNY Investment Advisers LLC purchased a new position in Grupo Financiero Galicia in the first quarter valued at $127,000. NumerixS Investment Technologies Inc purchased a new position in Grupo Financiero Galicia in the fourth quarter valued at $143,000. Exane Derivatives increased its holdings in Grupo Financiero Galicia by 13.2% in the first quarter. Exane Derivatives now owns 6,439 shares of the bank’s stock valued at $164,000 after buying an additional 753 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings in Grupo Financiero Galicia by 60.2% in the fourth quarter. Bank of America Corp DE now owns 6,665 shares of the bank’s stock valued at $184,000 after buying an additional 2,504 shares in the last quarter. Institutional investors and hedge funds own 25.46% of the company’s stock.

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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