Grupo Financiero Galicia S.A. (NASDAQ:GGAL) Given Average Recommendation of “Hold” by Brokerages

Shares of Grupo Financiero Galicia S.A. (NASDAQ:GGAL) have been given a consensus rating of “Hold” by the eight research firms that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $68.3333.

A number of equities research analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of Grupo Financiero Galicia from a “sell” rating to a “hold” rating in a report on Saturday, June 27th. JPMorgan Chase & Co. boosted their target price on shares of Grupo Financiero Galicia from $72.00 to $85.00 and gave the stock an “overweight” rating in a research note on Thursday, June 25th. Itau BBA Securities lowered Grupo Financiero Galicia from an “outperform” rating to a “market perform” rating in a report on Thursday, September 3rd. Finally, Weiss Ratings lowered Grupo Financiero Galicia from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, August 14th.

Insider Activity at Grupo Financiero Galicia

In other Grupo Financiero Galicia news, Director Silvestre Moret acquired 224,000 shares of the company’s stock in a transaction dated Wednesday, July 8th. The shares were acquired at an average price of $5.36 per share, for a total transaction of $1,200,640.00. Following the acquisition, the director owned 3,000,000 shares in the company, valued at $16,080,000. The trade was a 8.07% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last quarter, insiders bought 802,791 shares of company stock valued at $4,253,109.

Hedge Funds Weigh In On Grupo Financiero Galicia

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. ABS Direct Equity Fund LLC purchased a new stake in shares of Grupo Financiero Galicia during the 2nd quarter worth approximately $3,394,000. Carrhae Capital LLP purchased a new position in shares of Grupo Financiero Galicia in the 2nd quarter valued at $68,052,000. Verde Servicos Internacionais S.A. acquired a new stake in Grupo Financiero Galicia during the 1st quarter worth $934,000. RWC Asset Advisors US LLC raised 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 acquiring an additional 177,574 shares in the last quarter. Finally, Moerus Capital Management LLC purchased a new stake in Grupo Financiero Galicia in the first quarter valued at $8,179,000.

Grupo Financiero Galicia Stock Performance

Shares of Grupo Financiero Galicia stock opened at $41.76 on Wednesday. The business has a 50-day simple moving average of $46.08 and a 200-day simple moving average of $46.53. Grupo Financiero Galicia has a one year low of $25.89 and a one year high of $62.51. The company has a market cap of $6.71 billion, a PE ratio of 17.04, a P/E/G ratio of 0.24 and a beta of 1.28.

Grupo Financiero Galicia (NASDAQ:GGAL) last issued its earnings results on Tuesday, August 25th. The bank reported $1.14 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.16. The firm had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.70 billion. On average, sell-side analysts predict that Grupo Financiero Galicia will post 3.69 earnings per share for the current fiscal year.

Grupo Financiero Galicia Announces Dividend

The firm also recently disclosed a monthly dividend, which was paid on Monday, August 31st. Stockholders of record on Monday, August 24th were given a dividend of $0.0531 per share. This represents a c) annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Monday, August 24th. Grupo Financiero Galicia’s dividend payout ratio is currently 23.67%.

Grupo Financiero Galicia Company Profile

Grupo Financiero Galicia SA is an Argentina-based financial services holding company whose principal operating subsidiary is Banco de Galicia y Buenos Aires SAU. The group provides banking and related financial products to individuals, small and medium-sized businesses, corporate clients and agricultural customers in Argentina.

Through its banking operations, Grupo Financiero Galicia offers deposit accounts, personal and commercial loans, credit and debit cards, payment services, foreign trade financing, investment products and digital banking through online and mobile platforms.