JPMorgan Chase & Co. Upgrades Grupo Financiero Galicia (NASDAQ:GGAL) to Neutral

JPMorgan Chase & Co. upgraded shares of Grupo Financiero Galicia (NASDAQ:GGAL) from an underweight rating to a neutral rating in a research report report published on Wednesday, BenzingaRatingsTable reports. JPMorgan Chase & Co. currently has $20.00 price target on the bank’s stock, down from their prior price target of $26.00.

Other equities analysts have also recently issued research reports about the stock. Credit Suisse Group cut shares of Grupo Financiero Galicia from an outperform rating to a neutral rating and dropped their price target for the company from $45.00 to $22.00 in a research report on Tuesday, August 13th. Scotiabank assumed coverage on shares of Grupo Financiero Galicia in a research report on Wednesday, August 7th. They issued an underperform rating and a $27.00 price target on the stock. BidaskClub cut shares of Grupo Financiero Galicia from a buy rating to a hold rating in a research report on Tuesday, August 6th. Zacks Investment Research raised shares of 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. Finally, ValuEngine cut shares of Grupo Financiero Galicia from a hold rating to a sell rating in a research report on Monday, July 22nd. Four research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $27.25.

Shares of GGAL opened at $17.74 on Wednesday. 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 stock has a 50-day moving average of $34.26 and a 200-day moving average of $29.79. The company has a market cap of $2.49 billion, a PE ratio of 4.09 and a beta of 0.85. Grupo Financiero Galicia has a one year low of $15.17 and a one year high of $39.22.

A number of hedge funds and other institutional investors have recently made changes to their positions in GGAL. Aperio Group LLC bought a new position in Grupo Financiero Galicia in the 2nd quarter valued at about $33,000. Capital Investment Advisory Services LLC bought a new position in shares of Grupo Financiero Galicia during the 2nd quarter worth approximately $43,000. FNY Investment Advisers LLC bought a new position in shares of Grupo Financiero Galicia during the 1st quarter worth approximately $127,000. KBC Group NV bought a new position in shares of Grupo Financiero Galicia during the 2nd quarter worth approximately $153,000. Finally, Exane Derivatives lifted its position in shares of Grupo Financiero Galicia by 13.2% during the 1st quarter. Exane Derivatives now owns 6,439 shares of the bank’s stock worth $164,000 after buying an additional 753 shares in the last quarter. 25.57% of the stock is currently owned by institutional investors and hedge funds.

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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