Grupo Financiero Galicia (NASDAQ:GGAL) Downgraded to “Strong Sell” Rating by Zacks Research

Zacks Research cut shares of Grupo Financiero Galicia (NASDAQ:GGAL) from a hold rating to a strong sell rating in a research report released on Monday morning,Zacks.com reports.

Other research analysts have also issued reports about the stock. Wall Street Zen lowered shares of Grupo Financiero Galicia from a “hold” rating to a “sell” rating in a research note on Saturday. UBS Group assumed coverage on shares of Grupo Financiero Galicia in a research report on Wednesday, November 19th. They set a “hold” rating and a $60.00 price objective on the stock. The Goldman Sachs Group raised Grupo Financiero Galicia to a “hold” rating in a research report on Monday, November 10th. Citigroup raised Grupo Financiero Galicia from a “neutral” rating to a “buy” rating in a research note on Monday, November 3rd. Finally, JPMorgan Chase & Co. raised Grupo Financiero Galicia from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $46.00 to $75.00 in a research note on Tuesday, October 28th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Grupo Financiero Galicia presently has a consensus rating of “Hold” and a consensus target price of $66.25.

Grupo Financiero Galicia Trading Up 0.7%

NASDAQ GGAL traded up $0.36 during trading hours on Monday, hitting $51.86. 280,810 shares of the company’s stock were exchanged, compared to its average volume of 1,153,575. The firm has a market cap of $7.65 billion, a price-to-earnings ratio of 26.22 and a beta of 1.44. The stock has a 50-day simple moving average of $52.77 and a 200 day simple moving average of $46.14. Grupo Financiero Galicia has a 1-year low of $25.89 and a 1-year high of $66.24.

Grupo Financiero Galicia Increases Dividend

The company also recently announced a monthly dividend, which was paid on Monday, February 9th. Investors of record on Monday, February 2nd were given a dividend of $0.1455 per share. This represents a c) dividend on an annualized basis and a yield of 3.4%. This is a boost from Grupo Financiero Galicia’s previous monthly dividend of $0.14. The ex-dividend date of this dividend was Monday, February 2nd. Grupo Financiero Galicia’s dividend payout ratio (DPR) is 88.38%.

Hedge Funds Weigh In On Grupo Financiero Galicia

A number of large investors have recently modified their holdings of GGAL. Aquamarine Financial Cayman Ltd lifted its stake in Grupo Financiero Galicia by 57.9% in the fourth quarter. Aquamarine Financial Cayman Ltd now owns 2,092,309 shares of the bank’s stock valued at $113,133,000 after buying an additional 767,309 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Grupo Financiero Galicia by 52.2% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,937,465 shares of the bank’s stock valued at $97,629,000 after purchasing an additional 664,533 shares during the period. RWC Asset Advisors US LLC lifted its holdings in shares of Grupo Financiero Galicia by 848.1% in the third quarter. RWC Asset Advisors US LLC now owns 1,540,187 shares of the bank’s stock valued at $42,448,000 after purchasing an additional 1,377,735 shares in the last quarter. INCA Investments LLC raised its position in Grupo Financiero Galicia by 1.0% in the 3rd quarter. INCA Investments LLC now owns 1,080,161 shares of the bank’s stock valued at $29,769,000 after buying an additional 10,283 shares during the last quarter. Finally, Itau Unibanco Holding S.A. lifted its stake in Grupo Financiero Galicia by 90.5% in the 2nd quarter. Itau Unibanco Holding S.A. now owns 893,965 shares of the bank’s stock valued at $45,047,000 after acquiring an additional 424,693 shares in the last quarter.

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.