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

Grupo Financiero Galicia (NASDAQ:GGAL) was upgraded by stock analysts at Morgan Stanley from an “underweight” rating to an “overweight” rating in a research note issued to investors on Monday, Marketbeat reports. The brokerage presently has a $92.00 price objective on the bank’s stock. Morgan Stanley’s price target would indicate a potential upside of 47.65% from the stock’s current price.

Several other equities research analysts also recently weighed in on GGAL. StockNews.com downgraded Grupo Financiero Galicia from a “buy” rating to a “hold” rating in a research report on Thursday, November 14th. JPMorgan Chase & Co. raised Grupo Financiero Galicia from an “underweight” rating to an “overweight” rating and set a $54.00 target price on the stock in a report on Friday, August 30th. Finally, Citigroup upgraded Grupo Financiero Galicia from a “neutral” rating to a “buy” rating and set a $54.00 price objective on the stock in a research report on Wednesday, September 4th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Grupo Financiero Galicia presently has a consensus rating of “Moderate Buy” and an average target price of $59.00.

Grupo Financiero Galicia Stock Performance

NASDAQ:GGAL opened at $62.31 on Monday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.10. The company’s fifty day moving average price is $54.02 and its 200-day moving average price is $41.56. Grupo Financiero Galicia has a 1-year low of $15.32 and a 1-year high of $63.15.

Hedge Funds Weigh In On Grupo Financiero Galicia

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