Grupo Financiero Galicia S.A. (NASDAQ:GGAL) Stock Has Consensus Target Price of $65.00 According to Analysts

Shares of Grupo Financiero Galicia S.A. (NASDAQ:GGAL) have been given a consensus rating of “Hold” by the six ratings firms that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $65.00.

Several equities analysts have recently commented on GGAL shares. UBS Group lowered their target price on shares of Grupo Financiero Galicia from $60.00 to $45.00 and set a “neutral” rating on the stock in a report on Tuesday, October 13th. Weiss Ratings lowered Grupo Financiero Galicia from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, August 14th. Finally, Itau BBA Securities cut Grupo Financiero Galicia from an “outperform” rating to a “market perform” rating in a research note on Thursday, September 3rd.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of GGAL. Bank of New York Mellon Corp increased its position in Grupo Financiero Galicia by 2.2% during the first quarter. Bank of New York Mellon Corp now owns 32,382 shares of the bank’s stock valued at $1,513,000 after acquiring an additional 686 shares during the last quarter. Rockefeller Capital Management L.P. purchased a new position in shares of Grupo Financiero Galicia during the 4th quarter worth about $39,000. Leonteq Securities AG boosted its stake in shares of Grupo Financiero Galicia by 563.2% during the 1st quarter. Leonteq Securities AG now owns 2,036 shares of the bank’s stock worth $95,000 after purchasing an additional 1,729 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new position in Grupo Financiero Galicia during the 3rd quarter valued at about $68,000. Finally, Royal Bank of Canada lifted its stake in Grupo Financiero Galicia by 9.1% in the first quarter. Royal Bank of Canada now owns 44,531 shares of the bank’s stock worth $2,080,000 after purchasing an additional 3,729 shares during the last quarter.

Grupo Financiero Galicia Stock Down 1.7%

Shares of GGAL opened at $30.95 on Thursday. The stock has a market cap of $4.97 billion, a price-to-earnings ratio of 12.63, a PEG ratio of 0.17 and a beta of 1.35. Grupo Financiero Galicia has a 52 week low of $30.65 and a 52 week high of $61.20. The business has a 50-day simple moving average of $38.78 and a two-hundred day simple moving average of $45.38.

Grupo Financiero Galicia (NASDAQ:GGAL) last announced its quarterly earnings data on Tuesday, August 25th. The bank reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.16. The firm had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.70 billion. On average, equities analysts anticipate that Grupo Financiero Galicia will post 3.88 earnings per share for the current fiscal year.

Grupo Financiero Galicia Cuts Dividend

The business also recently announced a monthly dividend, which was paid on Monday, October 5th. Stockholders 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 1.9%. 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%.

Grupo Financiero Galicia Company Profile

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.