Grupo Financiero Galicia S.A. (NASDAQ:GGAL) Stock Has Average Target Price of $72.50 According to Analysts

Grupo Financiero Galicia S.A. (NASDAQ:GGAL) has earned a consensus recommendation of “Hold” from the seven analysts that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $65.00.

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

Grupo Financiero Galicia Trading Up 0.0%

NASDAQ:GGAL opened at $36.79 on Friday. The firm has a 50 day moving average of $41.83 and a 200-day moving average of $45.89. Grupo Financiero Galicia has a 1 year low of $31.14 and a 1 year high of $62.51.

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

Grupo Financiero Galicia Cuts Dividend

The company also recently announced a monthly dividend, which was paid on Monday, October 5th. Investors of record on Monday, September 28th were paid a $0.0479 dividend. This is a drop from Grupo Financiero Galicia’s previous monthly dividend of $0.0531. This represents a $0.57 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Monday, September 28th. Grupo Financiero Galicia’s dividend payout ratio (DPR) is 23.27%.

Hedge Funds Weigh In On Grupo Financiero Galicia

A number of institutional investors have recently bought and sold shares of the business. ABS Direct Equity Fund LLC acquired a new stake in Grupo Financiero Galicia during the 2nd quarter valued at $3,394,000. Carrhae Capital LLP bought a new stake in Grupo Financiero Galicia in the 2nd quarter valued at about $68,052,000. RWC Asset Advisors US LLC grew its position in Grupo Financiero Galicia by 52.2% during the second quarter. RWC Asset Advisors US LLC now owns 517,540 shares of the bank’s stock worth $25,893,000 after buying an additional 177,574 shares in the last quarter. Quantitative Investment Management LLC acquired a new stake in shares of Grupo Financiero Galicia during the 2nd quarter worth $490,000. Finally, Amundi grew its stake in Grupo Financiero Galicia by 11.9% during the first quarter. Amundi now owns 149,789 shares of the bank’s stock worth $6,997,000 after buying an additional 15,962 shares in the last quarter.

About Grupo Financiero Galicia

Grupo Financiero Galicia SA is an Argentine financial services holding company whose principal business is conducted through Banco de Galicia y Buenos Aires SAU. The group provides banking services to individuals, businesses, agricultural producers and other organizations throughout Argentina.

Its offerings include deposit accounts, personal and commercial loans, credit and debit cards, payment services, foreign trade finance, investment products and electronic banking. Through its affiliated businesses, the group also provides insurance, asset management, brokerage and other capital-markets services, as well as digital financial solutions.

Banco Galicia traces its origins to 1905, while Grupo Financiero Galicia was established in 1999 as a holding company for financial-services businesses.