Grupo Financiero Galicia (NASDAQ:GGAL) Hits New 52-Week Low – Time to Sell?

Grupo Financiero Galicia S.A. (NASDAQ:GGAL)’s stock price hit a new 52-week low during mid-day trading on Monday. The company traded as low as $31.63 and last traded at $31.6450, with a volume of 372,960 shares changing hands. The stock had previously closed at $32.30.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on GGAL. UBS Group cut their price target on shares of Grupo Financiero Galicia from $60.00 to $45.00 and set a “neutral” rating on the stock in a report on Tuesday, October 13th. Weiss Ratings downgraded Grupo Financiero Galicia from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, August 14th. Finally, Itau BBA Securities downgraded Grupo Financiero Galicia from an “outperform” rating to a “market perform” rating in a research note on Thursday, September 3rd. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $65.00.

Grupo Financiero Galicia Stock Down 1.7%

The business’s fifty day moving average is $39.04 and its two-hundred day moving average is $45.48. The stock has a market cap of $4.97 billion, a price-to-earnings ratio of 12.63, a PEG ratio of 0.17 and a beta of 1.35.

Grupo Financiero Galicia (NASDAQ:GGAL) last posted its quarterly earnings results on Tuesday, August 25th. The bank reported $1.14 EPS for the quarter, topping the consensus estimate of $0.98 by $0.16. The firm had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.70 billion. As a group, sell-side analysts expect that Grupo Financiero Galicia S.A. will post 3.88 earnings per share for the current 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 paid a $0.0479 dividend. This is a decrease from Grupo Financiero Galicia’s previous monthly dividend of $0.0531. This represents a $0.57 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date was Monday, September 28th. Grupo Financiero Galicia’s dividend payout ratio (DPR) is presently 23.27%.

Hedge Funds Weigh In On Grupo Financiero Galicia

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Carrhae Capital LLP purchased a new position in shares of Grupo Financiero Galicia during the 2nd quarter worth approximately $68,052,000. Robeco Institutional Asset Management B.V. acquired a new position in Grupo Financiero Galicia during the third quarter worth about $47,235,000. RWC Asset Management LLP increased its holdings in Grupo Financiero Galicia by 4.3% in the third quarter. RWC Asset Management LLP now owns 890,348 shares of the bank’s stock valued at $33,157,000 after buying an additional 36,903 shares in the last quarter. RWC Asset Advisors US LLC lifted its position in shares of 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 valued at $25,893,000 after acquiring an additional 177,574 shares during the period. Finally, Moerus Capital Management LLC purchased a new stake in shares of Grupo Financiero Galicia during the 1st quarter worth approximately $8,179,000.

Grupo Financiero Galicia Company 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.