Hsbc Holdings PLC Trims Position in Grupo Financiero Galicia S.A. $GGAL

Hsbc Holdings PLC decreased its position in shares of Grupo Financiero Galicia S.A. (NASDAQ:GGAL) by 7.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 172,686 shares of the bank’s stock after selling 14,166 shares during the quarter. Hsbc Holdings PLC owned approximately 0.11% of Grupo Financiero Galicia worth $7,767,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the company. Mak Capital One LLC purchased a new position in Grupo Financiero Galicia during the fourth quarter worth about $72,468,000. PointState Capital LP grew its stake in shares of Grupo Financiero Galicia by 170.6% in the 4th quarter. PointState Capital LP now owns 1,592,990 shares of the bank’s stock valued at $85,926,000 after buying an additional 1,004,371 shares during the period. TT International Asset Management LTD acquired a new stake in shares of Grupo Financiero Galicia during the 4th quarter worth approximately $47,035,000. Aquamarine Financial Cayman Ltd increased its holdings in shares of Grupo Financiero Galicia by 57.9% during the 4th quarter. Aquamarine Financial Cayman Ltd now owns 2,092,309 shares of the bank’s stock worth $113,133,000 after buying an additional 767,309 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Grupo Financiero Galicia by 52.2% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,937,465 shares of the bank’s stock valued at $97,629,000 after buying an additional 664,533 shares during the period.

Grupo Financiero Galicia Stock Performance

NASDAQ:GGAL opened at $50.15 on Friday. Grupo Financiero Galicia S.A. has a fifty-two week low of $25.89 and a fifty-two week high of $62.51. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.16 and a current ratio of 1.13. The company has a 50 day moving average price of $49.87 and a 200 day moving average price of $48.29. The stock has a market capitalization of $8.06 billion, a P/E ratio of 22.09, a PEG ratio of 0.36 and a beta of 1.34.

Grupo Financiero Galicia (NASDAQ:GGAL) last announced its earnings results on Tuesday, May 26th. The bank reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.07). The business had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.70 billion. Equities research analysts forecast that Grupo Financiero Galicia S.A. will post 3.74 EPS for the current year.

Insider Activity

In other news, Director Silvestre Vila Moret bought 224,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 8th. The shares were purchased at an average price of $5.36 per share, with a total value of $1,200,640.00. Following the purchase, the director owned 3,000,000 shares in the company, valued at approximately $16,080,000. The trade was a 8.07% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In the last quarter, insiders acquired 802,791 shares of company stock valued at $4,253,109.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on GGAL. Weiss Ratings upgraded Grupo Financiero Galicia from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday. Zacks Research upgraded Grupo Financiero Galicia from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 14th. Wall Street Zen raised Grupo Financiero Galicia from a “sell” rating to a “hold” rating in a research note on Saturday, June 27th. Finally, JPMorgan Chase & Co. increased their price target on Grupo Financiero Galicia from $72.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, June 25th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $68.33.

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.