Grupo Financiero Galicia S.A. (NASDAQ:GGAL) was the recipient of a large increase in short interest in November. As of November 29th, there was short interest totalling 2,610,000 shares, an increase of 10.1% from the November 14th total of 2,370,000 shares. Based on an average daily volume of 1,296,700 shares, the days-to-cover ratio is currently 2.0 days. Approximately 2.3% of the shares of the stock are short sold.
Several institutional investors and hedge funds have recently added to or reduced their stakes in GGAL. BlackRock Inc. boosted its stake in shares of Grupo Financiero Galicia by 139.1% during the 2nd quarter. BlackRock Inc. now owns 6,883,396 shares of the bank’s stock worth $244,360,000 after acquiring an additional 4,004,132 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of Grupo Financiero Galicia by 2,688.1% during the 2nd quarter. Bank of America Corp DE now owns 602,792 shares of the bank’s stock worth $21,399,000 after acquiring an additional 581,172 shares in the last quarter. Vanguard Group Inc. bought a new stake in shares of Grupo Financiero Galicia during the 2nd quarter worth $17,541,000. Northern Trust Corp boosted its stake in shares of Grupo Financiero Galicia by 276.7% during the 2nd quarter. Northern Trust Corp now owns 595,993 shares of the bank’s stock worth $21,158,000 after acquiring an additional 437,762 shares in the last quarter. Finally, Marathon Asset Management LP bought a new stake in shares of Grupo Financiero Galicia during the 3rd quarter worth $3,900,000. 20.40% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have issued reports on the company. Itau BBA Securities reaffirmed an “underperform” rating on shares of Grupo Financiero Galicia in a research note on Monday, December 9th. BidaskClub raised Grupo Financiero Galicia from a “hold” rating to a “buy” rating in a research note on Saturday, December 7th. Scotiabank raised Grupo Financiero Galicia from an “underperform” rating to a “sector perform” rating in a research note on Thursday, September 26th. Zacks Investment Research lowered Grupo Financiero Galicia from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 6th. Finally, ValuEngine raised Grupo Financiero Galicia from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Four analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $21.00.
Shares of GGAL traded up $0.79 during trading hours on Friday, hitting $14.75. 1,666,721 shares of the company were exchanged, compared to its average volume of 1,118,125. The company has a market capitalization of $1.99 billion, a PE ratio of 2.34 and a beta of 1.28. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.18 and a quick ratio of 1.05. The firm has a fifty day simple moving average of $12.62 and a 200-day simple moving average of $20.95. Grupo Financiero Galicia has a one year low of $9.53 and a one year high of $39.22.
Grupo Financiero Galicia (NASDAQ:GGAL) last released its quarterly earnings data on Wednesday, November 13th. The bank reported $1.65 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.65. The business had revenue of $325.58 million during the quarter, compared to analyst estimates of $576.60 million. Grupo Financiero Galicia had a return on equity of 46.23% and a net margin of 29.24%. Sell-side analysts expect that Grupo Financiero Galicia will post 4.19 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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