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.
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.
Featured Article: How to Invest in a Bull Market
Receive News & Ratings for Grupo Financiero Galicia Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Grupo Financiero Galicia and related companies with MarketBeat.com's FREE daily email newsletter.