JPMorgan Chase & Co. Lowers Grupo Financiero Galicia (NASDAQ:GGAL) Price Target to $72.00

Grupo Financiero Galicia (NASDAQ:GGAL) had its target price lowered by JPMorgan Chase & Co. from $75.00 to $72.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the bank’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 53.61% from the stock’s previous close.

A number of other research firms have also recently weighed in on GGAL. The Goldman Sachs Group raised Grupo Financiero Galicia to a “hold” rating in a report on Monday, November 10th. Citigroup upgraded Grupo Financiero Galicia from a “neutral” rating to a “buy” rating in a report on Monday, November 3rd. UBS Group assumed coverage on Grupo Financiero Galicia in a research note on Wednesday, November 19th. They issued a “hold” rating and a $60.00 price target on the stock. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Grupo Financiero Galicia in a research note on Monday, December 29th. Finally, Wall Street Zen downgraded shares of Grupo Financiero Galicia from a “hold” rating to a “sell” rating in a research report on Saturday, February 7th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $65.50.

Grupo Financiero Galicia Trading Up 4.7%

GGAL stock traded up $2.10 during midday trading on Thursday, hitting $46.87. The stock had a trading volume of 381,512 shares, compared to its average volume of 1,201,001. The stock has a 50-day simple moving average of $52.25 and a 200 day simple moving average of $45.98. The firm has a market capitalization of $6.91 billion, a price-to-earnings ratio of 23.61 and a beta of 1.44. Grupo Financiero Galicia has a 52 week low of $25.89 and a 52 week high of $66.24.

Institutional Investors Weigh In On Grupo Financiero Galicia

Hedge funds have recently bought and sold shares of the company. NewEdge Advisors LLC increased its stake in shares of Grupo Financiero Galicia by 149.5% during the first quarter. NewEdge Advisors LLC now owns 9,003 shares of the bank’s stock worth $490,000 after purchasing an additional 5,394 shares during the period. Whittier Trust Co. lifted its holdings in shares of Grupo Financiero Galicia by 11.6% during the second quarter. Whittier Trust Co. now owns 13,842 shares of the bank’s stock worth $697,000 after buying an additional 1,442 shares in the last quarter. AdvisorShares Investments LLC increased its position in Grupo Financiero Galicia by 16.6% during the second quarter. AdvisorShares Investments LLC now owns 37,253 shares of the bank’s stock worth $1,877,000 after acquiring an additional 5,317 shares during the period. AGF Management Ltd. acquired a new stake in shares of Grupo Financiero Galicia in the second quarter valued at approximately $12,662,000. Finally, SBI Securities Co. Ltd. grew its holdings in shares of Grupo Financiero Galicia by 240.5% during the 2nd quarter. SBI Securities Co. Ltd. now owns 1,202 shares of the bank’s stock worth $61,000 after purchasing an additional 849 shares in the last quarter.

Grupo Financiero Galicia Company Profile

Grupo Financiero Galicia is a diversified financial services holding company headquartered in Buenos Aires, Argentina. As one of the country’s largest private-sector financial institutions, the company provides a comprehensive suite of banking, insurance and investment products to individual, small-to-medium enterprise (SME) and corporate clients. Its operations span retail and commercial banking, asset management, leasing, factoring and pension fund administration.

The core banking segment offers deposit and lending services, credit and debit cards, payment solutions and digital banking platforms.