Shares of Grupo Financiero Galicia S.A. (NASDAQ:GGAL) have been given an average rating of “Hold” by the eight analysts that are covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and three have given a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $30.00.
Several equities analysts recently issued reports on GGAL shares. Credit Suisse Group upgraded Grupo Financiero Galicia from a “neutral” rating to an “outperform” rating in a research report on Tuesday, July 2nd. JPMorgan Chase & Co. cut Grupo Financiero Galicia from a “neutral” rating to an “underweight” rating and dropped their price target for the company from $28.00 to $20.00 in a research report on Monday, April 29th. Zacks Investment Research upgraded Grupo Financiero Galicia from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a research report on Wednesday, July 3rd. ValuEngine cut Grupo Financiero Galicia from a “hold” rating to a “sell” rating in a research report on Monday, July 22nd. Finally, BidaskClub upgraded Grupo Financiero Galicia from a “hold” rating to a “buy” rating in a research report on Wednesday.
Hedge funds have recently modified their holdings of the stock. Aperio Group LLC purchased a new stake in shares of Grupo Financiero Galicia during the 2nd quarter worth approximately $33,000. FNY Investment Advisers LLC acquired a new stake in Grupo Financiero Galicia during the first quarter worth about $127,000. KBC Group NV acquired a new stake in Grupo Financiero Galicia during the second quarter worth about $153,000. Exane Derivatives raised its stake in Grupo Financiero Galicia by 13.2% during the first quarter. Exane Derivatives now owns 6,439 shares of the bank’s stock worth $164,000 after acquiring an additional 753 shares during the period. Finally, Bank of America Corp DE increased its stake in shares of 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 purchasing an additional 2,504 shares during the period. Hedge funds and other institutional investors own 25.80% of the company’s stock.
Grupo Financiero Galicia (NASDAQ:GGAL) last posted its earnings results on Thursday, May 9th. The bank reported $1.63 EPS for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.89. Grupo Financiero Galicia had a return on equity of 31.89% and a net margin of 20.31%. The business had revenue of $262.78 million for the quarter, compared to analysts’ expectations of $490.98 million. As a group, sell-side analysts forecast that Grupo Financiero Galicia will post 3.85 EPS for the current year.
Grupo Financiero Galicia Company Profile
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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