Grupo Financiero Galicia S.A. (NASDAQ:GGAL) Stock Has Consensus Price Target of $65.00 According to Brokerages

Shares of Grupo Financiero Galicia S.A. (NASDAQ:GGAL) have been assigned a consensus rating of “Hold” from the five ratings firms that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and one has given a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $65.00.

A number of analysts have weighed in on the stock. Weiss Ratings cut shares of Grupo Financiero Galicia from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, August 14th. UBS Group lowered their target price on shares of 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, Itau BBA Securities lowered shares of Grupo Financiero Galicia from an “outperform” rating to a “market perform” rating in a research note on Thursday, September 3rd.

Grupo Financiero Galicia Stock Performance

GGAL opened at $29.87 on Thursday. Grupo Financiero Galicia has a one year low of $29.26 and a one year high of $58.14. The company has a market cap of $4.80 billion, a P/E ratio of 12.19, a PEG ratio of 0.16 and a beta of 1.35. The business’s 50-day simple moving average is $37.43 and its 200-day simple moving average is $44.81.

Grupo Financiero Galicia (NASDAQ:GGAL) last posted its earnings results on Tuesday, August 25th. The bank reported $1.14 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.16. The business had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.70 billion. As a group, analysts predict that Grupo Financiero Galicia will post 3.88 earnings per share 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. Shareholders 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 1.9%. Grupo Financiero Galicia’s dividend payout ratio is 23.27%.

Institutional Trading of Grupo Financiero Galicia

Several institutional investors and hedge funds have recently made changes to their positions in GGAL. Carrhae Capital LLP acquired a new position in Grupo Financiero Galicia during the second quarter worth approximately $68,052,000. Robeco Institutional Asset Management B.V. acquired a new stake in Grupo Financiero Galicia during the 3rd quarter worth $47,235,000. RWC Asset Advisors US LLC boosted its stake in Grupo Financiero Galicia by 52.2% during the 2nd quarter. RWC Asset Advisors US LLC now owns 517,540 shares of the bank’s stock worth $25,893,000 after purchasing an additional 177,574 shares during the period. Moerus Capital Management LLC purchased a new position in Grupo Financiero Galicia during the 1st quarter worth $8,179,000. Finally, Absolute Gestao de Investimentos Ltda. purchased a new position in Grupo Financiero Galicia during the 1st quarter worth $7,879,000.

About Grupo Financiero Galicia

Grupo Financiero Galicia is an Argentine financial services holding company with roots in Banco de Galicia y Buenos Aires, founded in 1905. The group operates primarily in Argentina through businesses serving individuals, companies and institutions. Its services include retail and commercial banking, lending, payments, insurance, investment and asset-management products, and brokerage services. The group also offers digital financial services, including through its Naranja X platform. Grupo Financiero Galicia’s operations are focused on the Argentine market, where it serves customers through a combination of physical branches and digital channels.