Brokerages Set Grupo Financiero Galicia S.A. (NASDAQ:GGAL) Price Target at $61.20

Shares of Grupo Financiero Galicia S.A. (NASDAQ:GGAL) have received an average rating of “Buy” from the five brokerages that are presently covering the firm, MarketBeat reports. Five analysts have rated the stock with a buy recommendation. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $61.20.

GGAL has been the subject of several analyst reports. Wall Street Zen lowered Grupo Financiero Galicia from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd. Itau BBA Securities initiated coverage on Grupo Financiero Galicia in a report on Tuesday, May 20th. They set an “outperform” rating and a $70.00 price objective for the company.

Grupo Financiero Galicia Stock Down 0.4%

Shares of NASDAQ GGAL opened at $54.15 on Friday. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $7.99 billion, a PE ratio of 7.97 and a beta of 1.72. The stock’s fifty day simple moving average is $59.17 and its two-hundred day simple moving average is $60.45. Grupo Financiero Galicia has a 12-month low of $23.53 and a 12-month high of $74.00.

Grupo Financiero Galicia Cuts Dividend

The firm also recently disclosed a — dividend, which was paid on Tuesday, June 10th. Stockholders of record on Tuesday, June 3rd were issued a dividend of $0.2631 per share. The ex-dividend date was Tuesday, June 3rd. Grupo Financiero Galicia’s dividend payout ratio is presently 3.98%.

Hedge Funds Weigh In On Grupo Financiero Galicia

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GGAL. Hsbc Holdings PLC raised its stake in Grupo Financiero Galicia by 9,082.3% in the 4th quarter. Hsbc Holdings PLC now owns 11,492,127 shares of the bank’s stock worth $721,935,000 after acquiring an additional 11,366,972 shares during the last quarter. Axiom Investors LLC DE raised its stake in Grupo Financiero Galicia by 1,723.9% in the 4th quarter. Axiom Investors LLC DE now owns 1,520,960 shares of the bank’s stock worth $94,786,000 after acquiring an additional 1,437,570 shares during the last quarter. Canada Pension Plan Investment Board purchased a new position in Grupo Financiero Galicia in the 4th quarter worth $78,711,000. PointState Capital LP raised its stake in Grupo Financiero Galicia by 160.5% in the 1st quarter. PointState Capital LP now owns 1,504,157 shares of the bank’s stock worth $81,931,000 after acquiring an additional 926,820 shares during the last quarter. Finally, William Blair Investment Management LLC raised its stake in Grupo Financiero Galicia by 778.9% in the 4th quarter. William Blair Investment Management LLC now owns 901,065 shares of the bank’s stock worth $56,152,000 after acquiring an additional 798,542 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.