Grupo Financiero Galicia (NASDAQ:GGAL) Trading Down 5.1%

Grupo Financiero Galicia S.A. (NASDAQ:GGAL) shares dropped 5.1% during trading on Tuesday . The stock traded as low as $11.90 and last traded at $12.07, approximately 1,269,500 shares were traded during mid-day trading. A decline of 21% from the average daily volume of 1,611,045 shares. The stock had previously closed at $12.72.

GGAL has been the subject of several research analyst reports. Scotiabank raised Grupo Financiero Galicia from an “underperform” rating to a “sector perform” rating in a report on Thursday, September 26th. BidaskClub lowered Grupo Financiero Galicia from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. Morgan Stanley lowered Grupo Financiero Galicia from an “overweight” rating to an “underweight” rating in a report on Monday, August 12th. JPMorgan Chase & Co. raised Grupo Financiero Galicia from an “underweight” rating to a “neutral” rating and cut their price objective for the stock from $26.00 to $20.00 in a report on Wednesday, August 14th. Finally, ValuEngine raised Grupo Financiero Galicia from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $27.25.

The company has a fifty day simple moving average of $12.59 and a 200-day simple moving average of $22.67. The company has a quick ratio of 1.05, a current ratio of 0.93 and a debt-to-equity ratio of 0.77. The firm has a market cap of $1.77 billion, a P/E ratio of 3.36 and a beta of 1.26.

Grupo Financiero Galicia (NASDAQ:GGAL) last released its quarterly earnings results on Wednesday, August 14th. The bank reported $1.85 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.04 by $0.81. Grupo Financiero Galicia had a return on equity of 41.32% and a net margin of 25.77%. The business had revenue of $224.71 million during the quarter, compared to analyst estimates of $543.07 million. As a group, research analysts forecast that Grupo Financiero Galicia S.A. will post 4.21 EPS for the current year.

A number of large investors have recently added to or reduced their stakes in GGAL. FMR LLC grew its holdings in Grupo Financiero Galicia by 6.9% during the first quarter. FMR LLC now owns 971,125 shares of the bank’s stock valued at $24,783,000 after purchasing an additional 63,062 shares during the period. WINTON GROUP Ltd purchased a new position in shares of Grupo Financiero Galicia in the second quarter valued at about $211,000. Gulf International Bank UK Ltd purchased a new position in shares of Grupo Financiero Galicia in the second quarter valued at about $614,000. Xact Kapitalforvaltning AB purchased a new position in shares of Grupo Financiero Galicia in the second quarter valued at about $202,000. Finally, NN Investment Partners Holdings N.V. lifted its position in shares of Grupo Financiero Galicia by 219.6% in the second quarter. NN Investment Partners Holdings N.V. now owns 22,053 shares of the bank’s stock valued at $782,000 after acquiring an additional 15,153 shares in the last quarter. 29.32% of the stock is owned by institutional investors and hedge funds.

Grupo Financiero Galicia Company Profile (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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