Grupo Financiero Galicia (NASDAQ:GGAL) Stock Rating Upgraded by JPMorgan Chase & Co.

Grupo Financiero Galicia (NASDAQ:GGAL) was upgraded by JPMorgan Chase & Co. from an “underweight” rating to an “overweight” rating in a research report issued on Friday, MarketBeat.com reports. The brokerage presently has a $54.00 target price on the bank’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 37.86% from the company’s previous close.

Other analysts have also recently issued reports about the company. Bank of America raised 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 report on Thursday, August 8th. StockNews.com upgraded shares of Grupo Financiero Galicia from a “hold” rating to a “buy” rating in a research report on Thursday.

Grupo Financiero Galicia Stock Up 4.0 %

Shares of NASDAQ:GGAL opened at $39.17 on Friday. Grupo Financiero Galicia has a fifty-two week low of $10.57 and a fifty-two week high of $41.33. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.04. The firm’s 50-day simple moving average is $30.83 and its 200-day simple moving average is $29.60. The company has a market cap of $5.78 billion, a price-to-earnings ratio of 5.78 and a beta of 2.03.

Institutional Trading of Grupo Financiero Galicia

A number of large investors have recently made changes to their positions in GGAL. Ping Capital Management Inc. purchased a new stake in shares of Grupo Financiero Galicia during the second quarter worth about $23,611,000. William Blair Investment Management LLC purchased a new stake in Grupo Financiero Galicia in the 2nd quarter worth approximately $8,573,000. BNP Paribas Financial Markets raised its holdings in Grupo Financiero Galicia by 266.5% in the 1st quarter. BNP Paribas Financial Markets now owns 338,939 shares of the bank’s stock valued at $8,616,000 after acquiring an additional 246,452 shares during the last quarter. PEAK6 Investments LLC lifted its stake in shares of Grupo Financiero Galicia by 135.8% during the 1st quarter. PEAK6 Investments LLC now owns 64,480 shares of the bank’s stock worth $1,639,000 after purchasing an additional 244,580 shares during the period. Finally, INCA Investments LLC lifted its position in Grupo Financiero Galicia by 27.6% during the first quarter. INCA Investments LLC now owns 1,078,149 shares of the bank’s stock worth $27,407,000 after buying an additional 232,980 shares during the period.

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.