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Grupo Financiero Galicia S.A. (NASDAQ:GGAL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, AnalystRatingsNetwork.com reports.

According to Zacks, “Grupo Financiero Galicia SA. is involved in the Financial Services Industry. Their principal activity is to continue to be a financial and investment services holding company and to fulfill the banking services activities of Banco Galicia. “

Grupo Financiero Galicia (NASDAQ:GGAL) traded up 0.64% during mid-day trading on Wednesday, reaching $26.61. The company’s stock had a trading volume of 326,221 shares. Grupo Financiero Galicia has a 12-month low of $15.30 and a 12-month high of $29.25. The firm’s 50 day moving average is $25.39 and its 200-day moving average is $22.30. The company has a market cap of $3.46 billion and a PE ratio of 11.86.

Other hedge funds and institutional investors have recently made changes to their positions in the company. Russell Frank Co raised its position in shares of Grupo Financiero Galicia by 23.6% in the fourth quarter. Russell Frank Co now owns 311,898 shares of the company’s stock worth $8,389,000 after buying an additional 59,617 shares in the last quarter. Deltec Asset Management LLC raised its position in shares of Grupo Financiero Galicia by 400.4% in the fourth quarter. Deltec Asset Management LLC now owns 68,269 shares of the company’s stock worth $1,849,000 after buying an additional 54,625 shares in the last quarter. Finally, EQIS Capital Management purchased a new position in shares of Grupo Financiero Galicia during the fourth quarter worth $260,000.

Grupo Financiero Galicia S.A. (NASDAQ:GGAL) is a financial services holding company. Banco de Galicia y Buenos Aires S.A. (Banco Galicia) is the Company’s largest subsidiary. Banco Galicia is a bank that provides, directly or through its subsidiaries, a range of financial products and services to large corporations, small and medium sized companies (SMEs), and individuals. Through the operating subsidiaries of Tarjetas Regionales S.A., a holding company wholly owned by the Bank, the Company provides brand credit cards and consumer finance services throughout Argentina. Through Sudamericana Holding S.A. and its subsidiaries (Sudamericana) it provides insurance products in Argentina. It provides financial services through a distribution platform amongst private-sector financial institutions in Argentina.

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