Zacks Investment Research upgraded shares of Grupo Financiero Galicia (NASDAQ:GGAL) from a hold rating to a strong-buy rating in a report released on Thursday morning, Zacks.com reports. Zacks Investment Research currently has $15.00 target price on the bank’s stock.
According to Zacks, “Grupo Financiero Galicia SA. is involved in the Financial Services Industry. Their principal activity is to continue to be a financial and investment services holding company and to fulfill the banking services activities of Banco Galicia. “
A number of other analysts have also recently issued reports on GGAL. Morgan Stanley cut shares of Grupo Financiero Galicia from an overweight rating to an underweight rating in a research note on Monday, August 12th. JPMorgan Chase & Co. upgraded shares of Grupo Financiero Galicia from an underweight rating to a neutral rating and lowered their target price for the company from $26.00 to $20.00 in a research note on Wednesday, August 14th. Credit Suisse Group cut shares of Grupo Financiero Galicia from a neutral rating to an underperform rating in a research note on Tuesday, October 29th. ValuEngine raised shares of Grupo Financiero Galicia from a sell rating to a hold rating in a report on Wednesday, October 2nd. Finally, Scotiabank upgraded Grupo Financiero Galicia from an underperform rating to a sector perform rating in a research note on Thursday, September 26th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a strong buy rating to the company. The company currently has an average rating of Hold and an average price target of $21.00.
Grupo Financiero Galicia (NASDAQ:GGAL) last released its earnings results on Wednesday, November 13th. The bank reported $1.65 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.65. Grupo Financiero Galicia had a net margin of 29.24% and a return on equity of 46.23%. The company had revenue of $325.58 million for the quarter, compared to analysts’ expectations of $576.60 million. Sell-side analysts predict that Grupo Financiero Galicia will post 4.21 EPS for the current year.
Institutional investors and hedge funds have recently made changes to their positions in the business. FMR LLC lifted its holdings in shares of Grupo Financiero Galicia by 6.9% in the first quarter. FMR LLC now owns 971,125 shares of the bank’s stock worth $24,783,000 after buying an additional 63,062 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in Grupo Financiero Galicia in the 2nd quarter worth $9,899,000. BP PLC purchased a new stake in Grupo Financiero Galicia in the 2nd quarter worth $664,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Grupo Financiero Galicia during the 2nd quarter valued at about $1,096,000. Finally, Aviva PLC bought a new position in shares of Grupo Financiero Galicia during the 2nd quarter valued at about $1,104,000. 20.41% of the stock is owned by institutional investors and hedge funds.
Grupo Financiero Galicia Company Profile
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 Story: Earnings Per Share (EPS) Explained
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.