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Grupo Financiero Galicia (NASDAQ:GGAL) Rating Lowered to Hold at Zacks Investment Research

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Galicia Financiero Galicia (NASDAQ: GGAL) Download by Zacks Investment Research From a “strong buy” rating to a “strong” rating in a research report issued to customers and investors on Monday, Zacks.com reports.

According to Zacks, “Grupo Financiero Galicia SA. Is involved in the financial services industry. Their main activity is to continue to be a holding company for financial and investment services and to fulfill the banking services activities of Banko Galicia.”

Shares of Grupo Financiero Galicia Stock Traded up $ 0.46 during trading on Monday and reached $ 10.15. The trading volume of the company’s stock was 860,892 shares, compared to an average volume of 797,690. The average moving price of a business for 50 days is $ 10.28 and the average moving price for its 200 days is $ 9.70. The firm has a market capitalization of $ 1.50 billion, a PE ratio of 4.09 and a beta of 1.82. Grupo Financiero Galicia has a 52-week low of $ 7.00 and a 52-week high of $ 12.75.

Several institutional investors have recently made changes to their positions in the company. Wells Fargo & Company MN increased its stake in Grupo Financiero Galicia by 139.5% in the second quarter. Wells Fargo & Company MN now holds 3,592 shares in the bank worth $ 31,000 after acquiring an additional 2,092 shares during the period. Great West Life Assurance Co. Can acquired a new stake in Grupo Financiero Galicia during the second quarter worth approximately $ 27,000. Shell Asset Management Co. Raised its position in Grupo Financiero Galicia by 15.0% during the second quarter. Shell Asset Management Co now owns $ 24,504 worth of $ 211,000 after acquiring an additional 3,200 shares during the period. Bank of America Corp DE increased its position in Grupo Financiero Galicia by 269.1% during the second quarter. Bank of America Corp. DE now holds 5,297 shares of the bank worth $ 46,000 after acquiring an additional 3,862 shares during the period. Finally, UBS Group AG raised its position in Grupo Financiero Galicia by 111.3% during the third quarter. UBS Group AG now holds 13,967 shares of the bank worth $ 141,000 after acquiring an additional 7,358 shares during the period. 7.02% of the shares are owned by institutional investors.

Company Profile of Grupo Financiero Galicia

Grupo Financiero Galicia SA is a holding company, engaged in banking, insurance and issuance of deposit certificates through its subsidiaries. It operates through the following sectors: Banks, Ecosistema Naranja X, Insurance, Other Businesses and Adjustments. The banking segment includes the results of banking business activity.

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