StockNews.com Downgrades Grupo Financiero Galicia (NASDAQ:GGAL) to Hold

StockNews.com lowered shares of Grupo Financiero Galicia (NASDAQ:GGAL) from a buy rating to a hold rating in a research note published on Thursday.

GGAL has been the subject of several other research reports. JPMorgan Chase & Co. raised Grupo Financiero Galicia from an “underweight” rating to an “overweight” rating and set a $54.00 price target for the company in a report on Friday, August 30th. Citigroup raised Grupo Financiero Galicia from a “neutral” rating to a “buy” rating and set a $54.00 price target for the company in a report on Wednesday, September 4th. Finally, Bank of America raised Grupo Financiero Galicia from an “underperform” rating to a “buy” rating and boosted their price target for the company from $28.00 to $36.00 in a report on Thursday, August 8th.

Grupo Financiero Galicia Stock Performance

NASDAQ:GGAL traded up $1.61 during mid-day trading on Thursday, hitting $56.32. 1,944,777 shares of the company traded hands, compared to its average volume of 1,018,926. The stock’s fifty day moving average price is $47.85 and its 200-day moving average price is $37.93. Grupo Financiero Galicia has a one year low of $11.68 and a one year high of $57.55.

Hedge Funds Weigh In On Grupo Financiero Galicia

A number of hedge funds have recently made changes to their positions in the business. Beverly Hills Private Wealth LLC boosted its stake in shares of Grupo Financiero Galicia by 5.2% in the second quarter. Beverly Hills Private Wealth LLC now owns 9,212 shares of the bank’s stock worth $282,000 after acquiring an additional 452 shares during the period. Banco Santander S.A. boosted its stake in shares of Grupo Financiero Galicia by 12.6% in the third quarter. Banco Santander S.A. now owns 7,783 shares of the bank’s stock worth $328,000 after acquiring an additional 872 shares during the period. Diversify Wealth Management LLC boosted its stake in shares of Grupo Financiero Galicia by 4.5% in the third quarter. Diversify Wealth Management LLC now owns 27,819 shares of the bank’s stock worth $1,171,000 after acquiring an additional 1,202 shares during the period. State Street Corp boosted its stake in shares of Grupo Financiero Galicia by 1.5% in the third quarter. State Street Corp now owns 84,378 shares of the bank’s stock worth $3,551,000 after acquiring an additional 1,260 shares during the period. Finally, Blue Trust Inc. bought a new position in shares of Grupo Financiero Galicia in the second quarter worth about $40,000.

Grupo Financiero Galicia Company Profile

Grupo Financiero Galicia SA, a financial service holding company, provides various financial products and services to individuals and companies in Argentina. The company operates through Banks, NaranjaX, Insurance, and Other Businesses segments. It also offers personal loans; express and mortgage loans; pledge and credit card loans; credit and debit cards; and online banking services, as well as savings, deposits, and checking accounts related services.