Brokerages Set Grupo Financiero Galicia S.A. (NASDAQ:GGAL) Target Price at $66.25

Grupo Financiero Galicia S.A. (NASDAQ:GGAL) has received a consensus recommendation of “Moderate Buy” from the nine ratings firms that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $66.25.

Several brokerages have commented on GGAL. Wall Street Zen lowered shares of Grupo Financiero Galicia from a “hold” rating to a “sell” rating in a research report on Saturday. Citigroup raised shares of Grupo Financiero Galicia from a “neutral” rating to a “buy” rating in a report on Monday, November 3rd. Weiss Ratings reiterated a “sell (d+)” rating on shares of Grupo Financiero Galicia in a research report on Monday, December 29th. HSBC began coverage on Grupo Financiero Galicia in a report on Wednesday, October 1st. They issued a “buy” rating and a $60.00 price target on the stock. Finally, The Goldman Sachs Group raised Grupo Financiero Galicia to a “hold” rating in a report on Monday, November 10th.

Grupo Financiero Galicia Price Performance

GGAL opened at $53.54 on Friday. Grupo Financiero Galicia has a 12 month low of $25.89 and a 12 month high of $72.51. The stock has a market capitalization of $7.90 billion, a P/E ratio of 27.04 and a beta of 1.47. The business has a 50 day simple moving average of $52.65 and a 200-day simple moving average of $45.62.

Grupo Financiero Galicia Increases Dividend

The company also recently declared a monthly dividend, which was paid on Monday, January 5th. Stockholders of record on Monday, December 29th were paid a dividend of $0.1423 per share. This is a boost from Grupo Financiero Galicia’s previous monthly dividend of $0.14. The ex-dividend date of this dividend was Monday, December 29th. This represents a c) annualized dividend and a dividend yield of 3.2%. Grupo Financiero Galicia’s dividend payout ratio is presently 86.36%.

Institutional Investors Weigh In On Grupo Financiero Galicia

A number of large investors have recently added to or reduced their stakes in GGAL. RWC Asset Advisors US LLC grew its holdings in Grupo Financiero Galicia by 848.1% during the 3rd quarter. RWC Asset Advisors US LLC now owns 1,540,187 shares of the bank’s stock valued at $42,448,000 after buying an additional 1,377,735 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Grupo Financiero Galicia by 52.2% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,937,465 shares of the bank’s stock valued at $97,629,000 after acquiring an additional 664,533 shares in the last quarter. RWC Asset Management LLP boosted its stake in shares of Grupo Financiero Galicia by 240.3% during the third quarter. RWC Asset Management LLP now owns 826,175 shares of the bank’s stock valued at $22,769,000 after acquiring an additional 583,403 shares during the last quarter. Itau Unibanco Holding S.A. boosted its stake in shares of Grupo Financiero Galicia by 90.5% during the second quarter. Itau Unibanco Holding S.A. now owns 893,965 shares of the bank’s stock valued at $45,047,000 after acquiring an additional 424,693 shares during the last quarter. Finally, Banco BTG Pactual S.A. increased its position in Grupo Financiero Galicia by 198.3% during the 2nd quarter. Banco BTG Pactual S.A. now owns 487,916 shares of the bank’s stock worth $24,586,000 after purchasing an additional 324,358 shares in the last quarter.

About Grupo Financiero Galicia

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.