Grupo Financiero Galicia (NASDAQ:GGAL) Upgraded to Overweight at Morgan Stanley

Morgan Stanley upgraded shares of Grupo Financiero Galicia (NASDAQ:GGAL) from an underweight rating to an overweight rating in a report published on Monday morning, MarketBeat Ratings reports. Morgan Stanley currently has $92.00 target price on the bank’s stock.

GGAL has been the topic of several other research reports. StockNews.com lowered shares of Grupo Financiero Galicia from a “buy” rating to a “hold” rating in a report on Thursday, November 14th. Citigroup raised Grupo Financiero Galicia from a “neutral” rating to a “buy” rating and set a $54.00 price target on the stock in a research note on Wednesday, September 4th. Finally, JPMorgan Chase & Co. upgraded Grupo Financiero Galicia from an “underweight” rating to an “overweight” rating and set a $54.00 price target on the stock in a report on Friday, August 30th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $59.00.

Grupo Financiero Galicia Trading Up 8.7 %

NASDAQ:GGAL opened at $67.76 on Monday. Grupo Financiero Galicia has a twelve month low of $15.32 and a twelve month high of $69.29. The company has a fifty day moving average of $54.02 and a 200-day moving average of $41.56. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.10.

Institutional Trading of Grupo Financiero Galicia

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GGAL. Banco Santander S.A. purchased a new position in shares of Grupo Financiero Galicia during the second quarter valued at approximately $211,000. William Blair Investment Management LLC bought a new position in Grupo Financiero Galicia during the 2nd quarter valued at $8,573,000. INCA Investments LLC boosted its holdings in Grupo Financiero Galicia by 1.8% during the 3rd quarter. INCA Investments LLC now owns 1,373,576 shares of the bank’s stock worth $57,814,000 after acquiring an additional 24,354 shares during the last quarter. Turim 21 Investimentos Ltda. purchased a new position in Grupo Financiero Galicia during the 2nd quarter worth $453,000. Finally, B. Riley Wealth Advisors Inc. bought a new stake in shares of Grupo Financiero Galicia in the 2nd quarter worth $582,000.

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.