Y Intercept Hong Kong Ltd Makes New Investment in Grupo Financiero Galicia S.A. $GGAL

Y Intercept Hong Kong Ltd purchased a new position in shares of Grupo Financiero Galicia S.A. (NASDAQ:GGAL) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 26,203 shares of the bank’s stock, valued at approximately $722,000.

Other large investors have also made changes to their positions in the company. SBI Securities Co. Ltd. lifted its holdings in Grupo Financiero Galicia by 240.5% during the second quarter. SBI Securities Co. Ltd. now owns 1,202 shares of the bank’s stock worth $61,000 after acquiring an additional 849 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Grupo Financiero Galicia during the second quarter worth about $151,000. SG Americas Securities LLC bought a new position in shares of Grupo Financiero Galicia during the 3rd quarter valued at about $165,000. Blue Trust Inc. grew its position in shares of Grupo Financiero Galicia by 184.7% in the 2nd quarter. Blue Trust Inc. now owns 3,528 shares of the bank’s stock valued at $178,000 after purchasing an additional 2,289 shares during the period. Finally, Bayforest Capital Ltd acquired a new position in shares of Grupo Financiero Galicia in the 2nd quarter valued at approximately $269,000.

Analysts Set New Price Targets

Several brokerages have commented on GGAL. Zacks Research upgraded shares of Grupo Financiero Galicia from a “strong sell” rating to a “hold” rating in a report on Monday, December 29th. Weiss Ratings restated a “sell (d+)” rating on shares of Grupo Financiero Galicia in a report on Monday, December 29th. Wall Street Zen raised shares of Grupo Financiero Galicia from a “sell” rating to a “hold” rating in a research report on Sunday, January 18th. UBS Group began coverage on Grupo Financiero Galicia in a report on Wednesday, November 19th. They set a “hold” rating and a $60.00 target price for the company. Finally, JPMorgan Chase & Co. upgraded Grupo Financiero Galicia from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $46.00 to $75.00 in a report on Tuesday, October 28th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $66.25.

Grupo Financiero Galicia Stock Performance

NASDAQ:GGAL opened at $53.92 on Tuesday. Grupo Financiero Galicia S.A. has a 52-week low of $25.89 and a 52-week high of $67.54. The company has a market cap of $7.95 billion, a P/E ratio of 27.23 and a beta of 1.44. The stock’s 50-day simple moving average is $52.83 and its 200 day simple moving average is $46.06.

Grupo Financiero Galicia Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, February 9th. Investors of record on Monday, February 2nd will be issued a dividend of $0.1455 per share. The ex-dividend date is Monday, February 2nd. This is an increase from Grupo Financiero Galicia’s previous monthly dividend of $0.14. This represents a c) dividend on an annualized basis and a yield of 3.2%. Grupo Financiero Galicia’s dividend payout ratio is 86.36%.

Grupo Financiero Galicia Company Profile

Grupo Financiero Galicia is a diversified financial services holding company headquartered in Buenos Aires, Argentina. As one of the country’s largest private-sector financial institutions, the company provides a comprehensive suite of banking, insurance and investment products to individual, small-to-medium enterprise (SME) and corporate clients. Its operations span retail and commercial banking, asset management, leasing, factoring and pension fund administration.

The core banking segment offers deposit and lending services, credit and debit cards, payment solutions and digital banking platforms.