Grupo Financiero Galicia S.A. $GGAL Stock: RWC Asset Advisors US LLC Reduces Holdings

RWC Asset Advisors US LLC lessened its holdings in shares of Grupo Financiero Galicia S.A. (NASDAQ:GGAL) by 22.0% during the 3rd quarter, Holdings Channel.com reports. The fund owned 403,865 shares of the bank’s stock after selling 113,675 shares during the period. Grupo Financiero Galicia comprises approximately 4.0% of RWC Asset Advisors US LLC’s investment portfolio, making the stock its 11th biggest position. RWC Asset Advisors US LLC’s holdings in Grupo Financiero Galicia were worth $15,040,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in GGAL. ABS Direct Equity Fund LLC bought a new stake in Grupo Financiero Galicia in the second quarter worth approximately $3,394,000. Carrhae Capital LLP acquired a new position in shares of Grupo Financiero Galicia during the 2nd quarter worth $68,052,000. Moerus Capital Management LLC bought a new position in shares of Grupo Financiero Galicia during the 1st quarter valued at $8,179,000. Absolute Gestao de Investimentos Ltda. acquired a new stake in shares of Grupo Financiero Galicia in the 1st quarter valued at $7,879,000. Finally, Turim 21 Investimentos Ltda. boosted its holdings in Grupo Financiero Galicia by 74.4% in the first quarter. Turim 21 Investimentos Ltda. now owns 41,586 shares of the bank’s stock worth $1,942,000 after purchasing an additional 17,746 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several research firms have commented on GGAL. Wall Street Zen raised shares of Grupo Financiero Galicia from a “sell” rating to a “hold” rating in a research report on Saturday, June 27th. Itau BBA Securities cut Grupo Financiero Galicia from an “outperform” rating to a “market perform” rating in a research report on Thursday, September 3rd. UBS Group reduced their target price on Grupo Financiero Galicia from $60.00 to $45.00 and set a “neutral” rating for the company in a report on Tuesday, October 13th. Finally, Weiss Ratings cut Grupo Financiero Galicia from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, August 14th. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $65.00.

Grupo Financiero Galicia Trading Up 5.0%

GGAL traded up $1.79 on Friday, hitting $37.91. 995,527 shares of the stock traded hands, compared to its average volume of 1,008,335. Grupo Financiero Galicia S.A. has a 52 week low of $34.57 and a 52 week high of $62.51. The firm has a market capitalization of $6.09 billion, a PE ratio of 15.47, a P/E/G ratio of 0.19 and a beta of 1.29. The business has a fifty day moving average price of $40.32 and a two-hundred day moving average price of $45.39.

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

Grupo Financiero Galicia Cuts Dividend

The company also recently disclosed a monthly dividend, which was paid on Monday, October 5th. Stockholders of record on Monday, September 28th were issued a dividend of $0.0479 per share. The ex-dividend date of this dividend was Monday, September 28th. This is a negative change from Grupo Financiero Galicia’s previous monthly dividend of $0.0531. This represents a $0.57 annualized dividend and a dividend yield of 1.5%. Grupo Financiero Galicia’s dividend payout ratio (DPR) is 23.27%.

Grupo Financiero Galicia 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.