Itau BBA Securities Reiterates “Underperform” Rating for Grupo Financiero Galicia (NASDAQ:GGAL)

Grupo Financiero Galicia (NASDAQ:GGAL)‘s stock had its “underperform” rating reissued by Itau BBA Securities in a report released on Monday, The Fly reports.

Several other brokerages have also issued reports on GGAL. Scotiabank upgraded shares of Grupo Financiero Galicia from an “underperform” rating to a “sector perform” rating in a research report on Thursday, September 26th. Morgan Stanley downgraded Grupo Financiero Galicia from an “overweight” rating to an “underweight” rating in a research report on Monday, August 12th. Zacks Investment Research lowered Grupo Financiero Galicia from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 6th. JPMorgan Chase & Co. raised Grupo Financiero Galicia from an “underweight” rating to a “neutral” rating and dropped their price target for the stock from $26.00 to $20.00 in a research note on Wednesday, August 14th. Finally, ValuEngine upgraded Grupo Financiero Galicia from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Four equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. Grupo Financiero Galicia has a consensus rating of “Hold” and a consensus target price of $21.00.

Shares of Grupo Financiero Galicia stock opened at $13.25 on Monday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.18 and a quick ratio of 1.05. Grupo Financiero Galicia has a 1 year low of $9.53 and a 1 year high of $39.22. The firm has a market cap of $1.97 billion, a PE ratio of 3.69 and a beta of 1.28. The company has a 50 day simple moving average of $12.54 and a two-hundred day simple moving average of $21.14.

Grupo Financiero Galicia (NASDAQ:GGAL) last issued its quarterly earnings results on Wednesday, November 13th. The bank reported $1.65 EPS for the quarter, topping the Zacks’ consensus estimate of $1.00 by $0.65. The firm had revenue of $325.58 million for the quarter, compared to analyst estimates of $576.60 million. Grupo Financiero Galicia had a net margin of 29.24% and a return on equity of 46.23%. As a group, research analysts anticipate that Grupo Financiero Galicia will post 4.19 earnings per share for the current year.

Hedge funds have recently bought and sold shares of the business. Marathon Asset Management LP purchased a new stake in shares of Grupo Financiero Galicia in the 3rd quarter valued at $3,900,000. Millennium Management LLC bought a new stake in Grupo Financiero Galicia in the third quarter worth $530,000. Voloridge Investment Management LLC bought a new stake in Grupo Financiero Galicia in the third quarter worth $2,477,000. Barclays PLC boosted its position in Grupo Financiero Galicia by 29,517.4% during the third quarter. Barclays PLC now owns 59,531 shares of the bank’s stock valued at $774,000 after buying an additional 59,330 shares during the period. Finally, Pictet Asset Management Ltd. boosted its position in Grupo Financiero Galicia by 9.3% during the third quarter. Pictet Asset Management Ltd. now owns 134,028 shares of the bank’s stock valued at $190,000 after buying an additional 11,374 shares during the period. 20.40% of the stock is currently owned by hedge funds and other institutional investors.

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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