Grupo Financiero Galicia (GGAL) Stock Price Down 8.2%

Grupo Financiero Galicia S.A. (NASDAQ:GGAL) dropped 8.2% during trading on Friday . The company traded as low as $25.67 and last traded at $25.84. Approximately 1,270,656 shares changed hands during mid-day trading, an increase of 43% from the average daily volume of 888,035 shares. The stock had previously closed at $28.14.

GGAL has been the subject of a number of recent analyst reports. BidaskClub downgraded Grupo Financiero Galicia from a “buy” rating to a “hold” rating in a research report on Tuesday, January 22nd. Zacks Investment Research raised Grupo Financiero Galicia from a “hold” rating to a “buy” rating and set a $32.00 price objective for the company in a research report on Friday, January 4th. Bank of America downgraded Grupo Financiero Galicia from a “neutral” rating to an “underperform” rating in a research report on Thursday, February 21st. Finally, ValuEngine raised Grupo Financiero Galicia from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $32.00.

The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.51.



Hedge funds have recently bought and sold shares of the business. Quantamental Technologies LLC purchased a new stake in Grupo Financiero Galicia during the fourth quarter valued at about $72,000. Victory Capital Management Inc. purchased a new stake in Grupo Financiero Galicia during the third quarter valued at about $112,000. NumerixS Investment Technologies Inc purchased a new stake in Grupo Financiero Galicia during the fourth quarter valued at about $143,000. Tower Research Capital LLC TRC grew its position in Grupo Financiero Galicia by 71.1% during the third quarter. Tower Research Capital LLC TRC now owns 6,368 shares of the bank’s stock valued at $162,000 after acquiring an additional 2,646 shares during the period. Finally, Bank of America Corp DE grew its position in Grupo Financiero Galicia by 60.2% during the fourth quarter. Bank of America Corp DE now owns 6,665 shares of the bank’s stock valued at $184,000 after acquiring an additional 2,504 shares during the period. 25.02% of the stock is owned by hedge funds and other institutional investors.

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About Grupo Financiero Galicia (NASDAQ:GGAL)

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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