Grupo Financiero Galicia (NASDAQ:GGAL) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Grupo Financiero Galicia (NASDAQ:GGALGet Free Report) had its price objective lifted by investment analysts at JPMorgan Chase & Co. from $72.00 to $85.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the bank’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 72.29% from the stock’s previous close.

A number of other research analysts have also commented on the company. Wall Street Zen lowered Grupo Financiero Galicia from a “hold” rating to a “sell” rating in a report on Saturday, May 23rd. Weiss Ratings reissued a “sell (d+)” rating on shares of Grupo Financiero Galicia in a report on Friday, March 27th. Finally, Zacks Research raised shares of Grupo Financiero Galicia from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 14th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $68.33.

Get Our Latest Report on GGAL

Grupo Financiero Galicia Stock Performance

Shares of NASDAQ:GGAL traded up $0.23 during trading on Thursday, reaching $49.34. 96,656 shares of the stock were exchanged, compared to its average volume of 1,228,122. Grupo Financiero Galicia has a 12 month low of $25.89 and a 12 month high of $62.51. The stock has a 50-day moving average price of $47.20 and a 200-day moving average price of $48.50. The company has a current ratio of 1.13, a quick ratio of 1.16 and a debt-to-equity ratio of 0.32. The firm has a market cap of $7.92 billion, a PE ratio of 21.63, a PEG ratio of 0.36 and a beta of 1.32.

Grupo Financiero Galicia (NASDAQ:GGALGet Free Report) last announced its earnings results on Tuesday, May 26th. The bank reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.07). The firm had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.70 billion. Grupo Financiero Galicia had a return on equity of 18.96% and a net margin of 7.13%. Research analysts expect that Grupo Financiero Galicia will post 3.69 EPS for the current fiscal year.

Institutional Investors Weigh In On Grupo Financiero Galicia

Several institutional investors have recently made changes to their positions in GGAL. Rockefeller Capital Management L.P. bought a new position in Grupo Financiero Galicia during the 4th quarter worth $39,000. State of Wyoming bought a new stake in shares of Grupo Financiero Galicia during the 4th quarter valued at $74,000. Leonteq Securities AG lifted its position in shares of Grupo Financiero Galicia by 563.2% during the 1st quarter. Leonteq Securities AG now owns 2,036 shares of the bank’s stock valued at $95,000 after acquiring an additional 1,729 shares during the period. Caitong International Asset Management Co. Ltd grew its holdings in shares of Grupo Financiero Galicia by 4,942.9% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 2,118 shares of the bank’s stock worth $58,000 after purchasing an additional 2,076 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Grupo Financiero Galicia during the 2nd quarter worth $151,000.

About Grupo Financiero Galicia

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Grupo Financiero Galicia (NASDAQ:GGAL)

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