Grupo Financiero Galicia S.A. (GGAL) – What Are Researchers Thinking About This Stock?

Shares of Grupo Financiero Galicia S.A. (NASDAQ:GGAL) have been assigned a consensus recommendation of “Hold” from the seven research firms that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and two have given a buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $65.00.

A number of research analysts have weighed in on the stock. Weiss Ratings lowered shares of Grupo Financiero Galicia from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, August 14th. Itau BBA Securities cut shares of Grupo Financiero Galicia from an “outperform” rating to a “market perform” rating in a report on Thursday, September 3rd. JPMorgan Chase & Co. raised their price target on Grupo Financiero Galicia from $72.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, June 25th. Wall Street Zen raised Grupo Financiero Galicia from a “sell” rating to a “hold” rating in a research report on Saturday, June 27th. Finally, UBS Group dropped their price objective on Grupo Financiero Galicia from $60.00 to $45.00 and set a “neutral” rating on the stock in a research note on Tuesday.

Institutional Trading of Grupo Financiero Galicia

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Carrhae Capital LLP acquired a new position in shares of Grupo Financiero Galicia during the second quarter worth approximately $68,052,000. RWC Asset Advisors US LLC boosted its position in shares of Grupo Financiero Galicia by 52.2% in the second quarter. RWC Asset Advisors US LLC now owns 517,540 shares of the bank’s stock valued at $25,893,000 after acquiring an additional 177,574 shares during the period. Fourth Sail Capital LP bought a new stake in shares of Grupo Financiero Galicia in the fourth quarter valued at approximately $16,653,000. USS Investment Management Ltd bought a new stake in shares of Grupo Financiero Galicia in the fourth quarter valued at approximately $10,214,000. Finally, Hsbc Holdings PLC grew its stake in shares of Grupo Financiero Galicia by 71.2% in the fourth quarter. Hsbc Holdings PLC now owns 186,852 shares of the bank’s stock worth $9,984,000 after acquiring an additional 77,740 shares during the last quarter.

Grupo Financiero Galicia Trading Up 2.6%

NASDAQ GGAL opened at $36.47 on Friday. The company has a 50 day moving average price of $41.37 and a two-hundred day moving average price of $45.79. Grupo Financiero Galicia has a 12-month low of $31.14 and a 12-month high of $62.51.

Grupo Financiero Galicia (NASDAQ:GGAL) last released its quarterly earnings results on Tuesday, August 25th. The bank reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.16. The company had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.70 billion. As a group, analysts anticipate that Grupo Financiero Galicia will post 3.88 EPS for the current fiscal year.

Grupo Financiero Galicia Cuts Dividend

The firm also recently disclosed a monthly dividend, which was paid on Monday, October 5th. Investors of record on Monday, September 28th were given a dividend of $0.0479 per share. The ex-dividend date of this dividend was Monday, September 28th. This represents a $0.57 annualized dividend and a dividend yield of 1.6%. This is a drop from Grupo Financiero Galicia’s previous monthly dividend of $0.0531. Grupo Financiero Galicia’s payout ratio is presently 23.27%.

About Grupo Financiero Galicia

Grupo Financiero Galicia SA is an Argentine financial services holding company whose principal business is conducted through Banco de Galicia y Buenos Aires SAU. The group provides banking services to individuals, businesses, agricultural producers and other organizations throughout Argentina.

Its offerings include deposit accounts, personal and commercial loans, credit and debit cards, payment services, foreign trade finance, investment products and electronic banking. Through its affiliated businesses, the group also provides insurance, asset management, brokerage and other capital-markets services, as well as digital financial solutions.

Banco Galicia traces its origins to 1905, while Grupo Financiero Galicia was established in 1999 as a holding company for financial-services businesses.