Grupo Financiero Galicia S.A. (GGAL) Upgraded to Buy at Citigroup Inc.

Grupo Financiero Galicia S.A. (NASDAQ:GGAL) was upgraded by Citigroup Inc. from a “neutral” rating to a “buy” rating in a report released on Monday.

A number of other brokerages have also weighed in on GGAL. Zacks Investment Research lowered Grupo Financiero Galicia from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 1st. BidaskClub upgraded Grupo Financiero Galicia from a “sell” rating to a “hold” rating in a research note on Monday, August 14th. Santander lowered Grupo Financiero Galicia from a “hold” rating to an “underperform” rating in a research note on Friday, September 8th. Finally, UBS AG upgraded Grupo Financiero Galicia from a “neutral” rating to a “buy” rating in a research note on Wednesday, October 4th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. Grupo Financiero Galicia presently has an average rating of “Hold”.

Shares of Grupo Financiero Galicia (NASDAQ GGAL) traded down $0.15 during trading hours on Monday, hitting $56.90. The company had a trading volume of 112,300 shares, compared to its average volume of 446,096. The stock has a market cap of $7,398.54, a P/E ratio of 18.18 and a beta of 1.15. Grupo Financiero Galicia has a 1-year low of $23.23 and a 1-year high of $58.61.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Victory Capital Management Inc. acquired a new position in shares of Grupo Financiero Galicia in the 3rd quarter worth approximately $107,000. Bank of America Corp DE grew its position in shares of Grupo Financiero Galicia by 39.5% in 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. Gilder Gagnon Howe & Co. LLC grew its position in shares of Grupo Financiero Galicia by 0.6% in 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. Advisor Group Inc. grew its position in shares of Grupo Financiero Galicia by 126.5% in the 2nd quarter. Advisor Group Inc. now owns 2,997 shares of the bank’s stock worth $128,000 after acquiring an additional 1,674 shares in the last quarter. Finally, Marshall Wace LLP acquired a new position in shares of Grupo Financiero Galicia in the 2nd quarter worth approximately $212,000. Hedge funds and other institutional investors own 27.71% of the company’s stock.

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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).

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