Grupo Financiero Galicia (NASDAQ:GGAL) Downgraded by StockNews.com to “Hold”

Grupo Financiero Galicia (NASDAQ:GGAL) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

Several other research firms have also recently weighed in on GGAL. JPMorgan Chase & Co. raised Grupo Financiero Galicia from an “underweight” rating to an “overweight” rating and set a $54.00 price target on the stock in a report on Friday, August 30th. Bank of America raised Grupo Financiero Galicia from an “underperform” rating to a “buy” rating and raised their target price for the stock from $28.00 to $36.00 in a research report on Thursday, August 8th. Finally, Citigroup raised shares of Grupo Financiero Galicia from a “neutral” rating to a “buy” rating and set a $54.00 price target for the company in a research report on Wednesday, September 4th.

Grupo Financiero Galicia Price Performance

Grupo Financiero Galicia stock opened at $56.29 on Thursday. Grupo Financiero Galicia has a 12 month low of $11.68 and a 12 month high of $57.55. The stock has a fifty day simple moving average of $48.41 and a two-hundred day simple moving average of $38.22.

Institutional Trading of Grupo Financiero Galicia

Several hedge funds and other institutional investors have recently bought and sold shares of GGAL. Banco Santander S.A. purchased a new stake in Grupo Financiero Galicia in the 2nd quarter valued at about $211,000. William Blair Investment Management LLC purchased a new stake in shares of Grupo Financiero Galicia in the second quarter valued at approximately $8,573,000. Headlands Technologies LLC bought a new position in Grupo Financiero Galicia in the first quarter worth approximately $67,000. Turim 21 Investimentos Ltda. purchased a new position in Grupo Financiero Galicia during the 2nd quarter worth $453,000. Finally, B. Riley Wealth Advisors Inc. purchased a new position in Grupo Financiero Galicia during the 2nd quarter worth $582,000.

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.