Grupo Financiero Galicia (NASDAQ:GGAL) Cut to “Hold” at StockNews.com

StockNews.com cut shares of Grupo Financiero Galicia (NASDAQ:GGAL) from a buy rating to a hold rating in a research note issued to investors on Thursday.

Other analysts have also issued reports about the company. JPMorgan Chase & Co. raised Grupo Financiero Galicia from an “underweight” rating to an “overweight” rating and set a $54.00 price objective on the stock in a research note on Friday, August 30th. Bank of America upgraded shares of Grupo Financiero Galicia from an “underperform” rating to a “buy” rating and raised their price target for the company from $28.00 to $36.00 in a research note on Thursday, August 8th. Finally, Citigroup upgraded shares of Grupo Financiero Galicia from a “neutral” rating to a “buy” rating and set a $54.00 price objective for the company in a research report on Wednesday, September 4th.

Grupo Financiero Galicia Stock Up 2.9 %

GGAL opened at $56.29 on Thursday. Grupo Financiero Galicia has a twelve month low of $11.68 and a twelve month high of $57.55. The company has a 50-day simple moving average of $48.41 and a 200 day simple moving average of $38.26.

Institutional Investors Weigh In On Grupo Financiero Galicia

Several institutional investors and hedge funds have recently made changes to their positions in GGAL. Blue Trust Inc. acquired a new position in Grupo Financiero Galicia in the second quarter valued at approximately $40,000. Ashton Thomas Private Wealth LLC bought a new position in Grupo Financiero Galicia during the second quarter worth $51,000. Headlands Technologies LLC acquired a new stake in Grupo Financiero Galicia in the first quarter worth $67,000. NorthRock Partners LLC bought a new stake in Grupo Financiero Galicia in the third quarter valued at $253,000. Finally, XTX Topco Ltd acquired a new position in shares of Grupo Financiero Galicia during the third quarter valued at about $266,000.

About Grupo Financiero Galicia

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.