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 issued to investors on Thursday morning.

A number of other analysts also recently weighed in on GGAL. Citigroup upgraded shares of Grupo Financiero Galicia from a “neutral” rating to a “buy” rating and set a $54.00 price target on the stock in a research report on Wednesday, September 4th. JPMorgan Chase & Co. upgraded shares of Grupo Financiero Galicia from an “underweight” rating to an “overweight” rating and set a $54.00 target price on the stock in a report on Friday, August 30th. Finally, Bank of America raised shares of 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 Trading Up 2.9 %

NASDAQ GGAL 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 50-day simple moving average of $48.41 and a 200 day simple moving average of $38.26.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in GGAL. Dorsey Wright & Associates lifted its position in Grupo Financiero Galicia by 11.2% in the 3rd quarter. Dorsey Wright & Associates now owns 127,179 shares of the bank’s stock valued at $5,353,000 after acquiring an additional 12,815 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of Grupo Financiero Galicia in the 3rd quarter valued at about $266,000. State Street Corp raised its stake in shares of Grupo Financiero Galicia by 1.5% in the 3rd quarter. State Street Corp now owns 84,378 shares of the bank’s stock valued at $3,551,000 after purchasing an additional 1,260 shares during the period. Quadrature Capital Ltd acquired a new position in shares of Grupo Financiero Galicia during the third quarter worth about $278,000. Finally, PointState Capital LP boosted its position in shares of Grupo Financiero Galicia by 15.8% during the third quarter. PointState Capital LP now owns 504,169 shares of the bank’s stock worth $21,220,000 after buying an additional 68,658 shares during the period.

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.