Grupo Financiero Galicia (NASDAQ:GGAL) Shares Up 6.5% – What’s Next?

Grupo Financiero Galicia S.A. (NASDAQ:GGAL)’s share price was up 6.5% during mid-day trading on Tuesday . The company traded as high as $57.76 and last traded at $57.55. Approximately 771,309 shares were traded during trading, a decline of 30% from the average daily volume of 1,109,136 shares. The stock had previously closed at $54.02.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Itau BBA Securities started coverage on shares of Grupo Financiero Galicia in a research note on Tuesday, May 20th. They issued an “outperform” rating and a $70.00 price objective for the company. Wall Street Zen cut shares of Grupo Financiero Galicia from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $61.20.

Grupo Financiero Galicia Stock Performance

The stock has a market cap of $8.47 billion, a price-to-earnings ratio of 8.49 and a beta of 1.72. The company’s fifty day simple moving average is $58.28 and its two-hundred day simple moving average is $60.55. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.11 and a quick ratio of 1.11.

Grupo Financiero Galicia Cuts Dividend

The business also recently announced a — dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Tuesday, June 3rd will be issued a $0.2631 dividend. The ex-dividend date of this dividend is Tuesday, June 3rd. Grupo Financiero Galicia’s dividend payout ratio is presently 3.83%.

Institutional Investors Weigh In On Grupo Financiero Galicia

Institutional investors have recently bought and sold shares of the stock. PointState Capital LP lifted its stake in Grupo Financiero Galicia by 160.5% during the 1st quarter. PointState Capital LP now owns 1,504,157 shares of the bank’s stock valued at $81,931,000 after acquiring an additional 926,820 shares in the last quarter. NWI Management LP raised its holdings in shares of Grupo Financiero Galicia by 254.9% in the first quarter. NWI Management LP now owns 99,312 shares of the bank’s stock valued at $5,410,000 after purchasing an additional 71,325 shares during the last quarter. NewEdge Advisors LLC lifted its position in shares of Grupo Financiero Galicia by 149.5% during the first quarter. NewEdge Advisors LLC now owns 9,003 shares of the bank’s stock valued at $490,000 after purchasing an additional 5,394 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Grupo Financiero Galicia by 4.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,272,932 shares of the bank’s stock worth $69,337,000 after purchasing an additional 49,994 shares during the last quarter. Finally, Itau Unibanco Holding S.A. boosted its holdings in Grupo Financiero Galicia by 112.3% during the first quarter. Itau Unibanco Holding S.A. now owns 469,272 shares of the bank’s stock worth $24,624,000 after purchasing an additional 248,268 shares during the last quarter.

Grupo Financiero Galicia Company Profile

Grupo Financiero Galicia SA, a financial service holding company, provides various financial products and services to individuals and companies in Argentina. The company operates through Banks, NaranjaX, Insurance, and Other Businesses segments. It also offers personal loans; express and mortgage loans; pledge and credit card loans; credit and debit cards; and online banking services, as well as savings, deposits, and checking accounts related services.