Grupo Financiero Galicia (NASDAQ:GGAL) Hits New 1-Year Low – Should You Sell?

Grupo Financiero Galicia S.A. (NASDAQ:GGAL) hit a new 52-week low during mid-day trading on Monday. The stock traded as low as $31.63 and last traded at $31.6450, with a volume of 372,960 shares trading hands. The stock had previously closed at $32.30.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on GGAL shares. Itau BBA Securities lowered Grupo Financiero Galicia from an “outperform” rating to a “market perform” rating in a research note on Thursday, September 3rd. UBS Group reduced their price objective on shares of Grupo Financiero Galicia from $60.00 to $45.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 13th. Finally, Weiss Ratings cut shares of Grupo Financiero Galicia from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, August 14th. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Grupo Financiero Galicia has a consensus rating of “Hold” and a consensus target price of $65.00.

Grupo Financiero Galicia Trading Down 3.5%

The company has a market cap of $5.01 billion, a price-to-earnings ratio of 12.74, a P/E/G ratio of 0.17 and a beta of 1.35. The firm’s 50-day moving average price is $39.48 and its 200 day moving average price is $45.69.

Grupo Financiero Galicia (NASDAQ:GGAL) last issued its earnings results on Tuesday, August 25th. The bank reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.16. The firm had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.70 billion. Analysts forecast that Grupo Financiero Galicia S.A. will post 3.88 earnings per share for the current fiscal year.

Grupo Financiero Galicia Cuts Dividend

The business also recently disclosed a monthly dividend, which was paid on Monday, October 5th. Shareholders of record on Monday, September 28th were issued a dividend of $0.0479 per share. The ex-dividend date of this dividend was Monday, September 28th. This represents a $0.57 dividend on an annualized basis and a yield of 1.8%. This is a decrease from Grupo Financiero Galicia’s previous monthly dividend of $0.0531. Grupo Financiero Galicia’s dividend payout ratio is presently 23.27%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of GGAL. ABS Direct Equity Fund LLC bought a new stake in Grupo Financiero Galicia in the 2nd quarter worth about $3,394,000. Carrhae Capital LLP purchased a new stake in Grupo Financiero Galicia in the 2nd quarter valued at about $68,052,000. RWC Asset Advisors US LLC lifted its position in shares of Grupo Financiero Galicia by 52.2% during the 2nd quarter. RWC Asset Advisors US LLC now owns 517,540 shares of the bank’s stock worth $25,893,000 after buying an additional 177,574 shares in the last quarter. RWC Asset Management LLP boosted its stake in shares of Grupo Financiero Galicia by 4.3% in the 3rd quarter. RWC Asset Management LLP now owns 890,348 shares of the bank’s stock worth $33,157,000 after buying an additional 36,903 shares during the last quarter. Finally, Moerus Capital Management LLC purchased a new position in shares of Grupo Financiero Galicia in the 1st quarter worth approximately $8,179,000.

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., commonly known as Galicia. The group serves individuals, businesses, agricultural customers and public-sector entities across Argentina.

Through its banking operations, Galicia offers deposit accounts, consumer and commercial loans, credit and debit cards, payment services, cash management, foreign trade financing, investment products and digital banking services.