Grupo Financiero Galicia (GGAL) Rating Lowered to Hold at HSBC

Grupo Financiero Galicia (NASDAQ:GGAL) was downgraded by analysts at HSBC from a “buy” rating to a “hold” rating in a research note issued on Thursday.

Several other analysts also recently commented on GGAL. BidaskClub upgraded shares of Grupo Financiero Galicia from a “hold” rating to a “buy” rating in a report on Thursday, December 7th. UBS upgraded shares of Grupo Financiero Galicia from a “neutral” rating to a “buy” rating in a report on Wednesday, October 4th. ValuEngine downgraded shares of Grupo Financiero Galicia from a “buy” rating to a “hold” rating in a report on Thursday, December 7th. Santander downgraded shares of Grupo Financiero Galicia from a “hold” rating to an “underperform” rating in a report on Friday, September 8th. Finally, Zacks Investment Research downgraded shares of Grupo Financiero Galicia from a “hold” rating to a “sell” rating in a report on Monday, November 20th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Hold”.

Shares of Grupo Financiero Galicia (NASDAQ:GGAL) traded down $0.10 during mid-day trading on Thursday, hitting $65.98. 509,600 shares of the stock traded hands, compared to its average volume of 458,115. The stock has a market capitalization of $8,592.18, a P/E ratio of 21.11 and a beta of 1.14. Grupo Financiero Galicia has a 52 week low of $23.50 and a 52 week high of $67.20.

Several hedge funds have recently made changes to their positions in GGAL. Geode Capital Management LLC grew its position in Grupo Financiero Galicia by 38.0% during the first quarter. Geode Capital Management LLC now owns 29,717 shares of the bank’s stock valued at $1,124,000 after buying an additional 8,184 shares during the period. Bank of America Corp DE grew its position in Grupo Financiero Galicia by 39.5% during the first quarter. Bank of America Corp DE now owns 3,132 shares of the bank’s stock valued at $120,000 after buying an additional 887 shares during the period. DekaBank Deutsche Girozentrale grew its position in Grupo Financiero Galicia by 42.9% during the second quarter. DekaBank Deutsche Girozentrale now owns 16,000 shares of the bank’s stock valued at $679,000 after buying an additional 4,800 shares during the period. William Blair Investment Management LLC bought a new position in Grupo Financiero Galicia during the second quarter valued at about $19,293,000. Finally, Marshall Wace LLP bought a new position in Grupo Financiero Galicia during the second quarter valued at about $212,000. Institutional investors own 32.24% of the company’s stock.

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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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