Whittier Trust Co. of Nevada Inc. Purchases New Stake in Grupo Financiero Galicia S.A. (NASDAQ:GGAL)

Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Grupo Financiero Galicia S.A. (NASDAQ:GGAL) during the first quarter, HoldingsChannel.com reports. The fund purchased 4,217 shares of the bank’s stock, valued at approximately $230,000.

Other hedge funds have also modified their holdings of the company. Whittier Trust Co. acquired a new stake in Grupo Financiero Galicia during the 1st quarter worth approximately $675,000. Diversify Wealth Management LLC grew its position in Grupo Financiero Galicia by 16.1% during the 1st quarter. Diversify Wealth Management LLC now owns 37,285 shares of the bank’s stock worth $2,031,000 after acquiring an additional 5,157 shares during the last quarter. LBP AM SA bought a new stake in Grupo Financiero Galicia during the 1st quarter worth $463,000. Bank of New York Mellon Corp grew its position in shares of Grupo Financiero Galicia by 1.6% in the 1st quarter. Bank of New York Mellon Corp now owns 30,890 shares of the bank’s stock valued at $1,683,000 after buying an additional 483 shares during the last quarter. Finally, Vontobel Holding Ltd. acquired a new position in shares of Grupo Financiero Galicia in the 1st quarter valued at about $225,000.

Grupo Financiero Galicia Stock Up 2.9%

Shares of NASDAQ GGAL opened at $47.71 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. Grupo Financiero Galicia S.A. has a 12-month low of $23.53 and a 12-month high of $74.00. The stock has a market capitalization of $7.04 billion, a price-to-earnings ratio of 7.03 and a beta of 1.64. The firm’s 50-day moving average price is $55.05 and its 200-day moving average price is $58.71.

Grupo Financiero Galicia Cuts Dividend

The company also recently announced a — dividend, which was paid on Tuesday, June 10th. Shareholders of record on Tuesday, June 3rd were paid a $0.2631 dividend. The ex-dividend date was Tuesday, June 3rd. Grupo Financiero Galicia’s dividend payout ratio (DPR) is 3.98%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on GGAL shares. Itau BBA Securities initiated coverage on Grupo Financiero Galicia in a research note on Tuesday, May 20th. They set an “outperform” rating and a $70.00 price target on the stock. Wall Street Zen lowered Grupo Financiero Galicia from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd. One equities 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 stock currently has an average rating of “Moderate Buy” and a consensus target price of $61.20.

About Grupo Financiero Galicia

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.