Grupo Financiero Galicia S.A. (NASDAQ:GGAL) was the recipient of a large decrease in short interest in October. As of October 31st, there was short interest totalling 1,122,156 shares, a decrease of 35.2% from the October 13th total of 1,731,875 shares. Based on an average daily trading volume, of 439,370 shares, the days-to-cover ratio is currently 2.6 days.

Grupo Financiero Galicia (NASDAQ:GGAL) opened at $54.25 on Friday. The firm has a market capitalization of $6,230.00, a price-to-earnings ratio of 16.06 and a beta of 1.15. Grupo Financiero Galicia has a twelve month low of $23.23 and a twelve month high of $58.61.

A number of institutional investors and hedge funds have recently modified their holdings of GGAL. FMR LLC raised its holdings in Grupo Financiero Galicia by 26.6% in the 1st quarter. FMR LLC now owns 477,082 shares of the bank’s stock valued at $18,062,000 after acquiring an additional 100,122 shares during the last quarter. Geode Capital Management LLC raised its holdings in Grupo Financiero Galicia by 38.0% in the 1st quarter. Geode Capital Management LLC now owns 29,717 shares of the bank’s stock valued at $1,124,000 after acquiring an additional 8,184 shares during the last quarter. Bank of America Corp DE raised its holdings in Grupo Financiero Galicia by 39.5% in the 1st quarter. Bank of America Corp DE now owns 3,132 shares of the bank’s stock valued at $120,000 after acquiring an additional 887 shares during the last quarter. Opera Trading Capital acquired a new position in Grupo Financiero Galicia in the 2nd quarter valued at $3,094,000. Finally, Parkwood LLC acquired a new position in Grupo Financiero Galicia in the 2nd quarter valued at $563,000. Institutional investors own 26.55% of the company’s stock.

A number of equities research analysts recently issued reports on GGAL shares. BidaskClub lowered Grupo Financiero Galicia from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Citigroup Inc. upgraded Grupo Financiero Galicia from a “sell” rating to a “neutral” rating in a report on Friday, September 8th. Zacks Investment Research downgraded Grupo Financiero Galicia from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 1st. UBS AG upgraded Grupo Financiero Galicia from a “neutral” rating to a “buy” rating in a report on Wednesday, October 4th. Finally, Santander downgraded Grupo Financiero Galicia from a “hold” rating to an “underperform” rating in a report on Friday, September 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. Grupo Financiero Galicia presently has an average rating of “Hold”.

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About Grupo Financiero Galicia

Grupo Financiero Galicia SA (Grupo Financiero Galicia) is a financial services holding company. The Company’s segments include Banking, Regional Credit Cards, CFA, Insurance and Other Grupo Galicia Businesses. Banco de Galicia y Buenos Aires SA (Banco Galicia) is a subsidiary of the Company. Its banking business segment represents Banco Galicia consolidated line by line with Banco Galicia Uruguay SA (Galicia Uruguay).

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