Grupo Financiero Galicia (NASDAQ:GGAL) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Grupo Financiero Galicia (NASDAQ:GGAL) from a sell rating to a hold rating in a research note published on Sunday morning.

A number of other research firms have also issued reports on GGAL. UBS Group started coverage on shares of Grupo Financiero Galicia in a report on Wednesday, November 19th. They set a “hold” rating and a $60.00 target price on the stock. HSBC began coverage on Grupo Financiero Galicia in a research report on Wednesday, October 1st. They set a “buy” rating and a $60.00 price objective on the stock. Zacks Research upgraded Grupo Financiero Galicia from a “strong sell” rating to a “hold” rating in a research note on Monday, December 29th. JPMorgan Chase & Co. raised Grupo Financiero Galicia from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $46.00 to $75.00 in a research note on Tuesday, October 28th. Finally, Hsbc Global Res raised shares of Grupo Financiero Galicia to a “strong-buy” rating in a report on Wednesday, October 1st. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $66.25.

Grupo Financiero Galicia Price Performance

NASDAQ GGAL opened at $50.39 on Friday. The company has a market cap of $7.43 billion, a P/E ratio of 25.45 and a beta of 1.47. The stock has a 50-day moving average of $52.09 and a two-hundred day moving average of $45.64. Grupo Financiero Galicia has a 1-year low of $25.89 and a 1-year high of $71.50.

Grupo Financiero Galicia Increases Dividend

The business also recently disclosed a monthly dividend, which was paid on Monday, January 5th. Shareholders of record on Monday, December 29th were issued a dividend of $0.1423 per share. The ex-dividend date of this dividend was Monday, December 29th. This is an increase from Grupo Financiero Galicia’s previous monthly dividend of $0.14. This represents a c) dividend on an annualized basis and a yield of 3.4%. Grupo Financiero Galicia’s dividend payout ratio is 86.36%.

Hedge Funds Weigh In On Grupo Financiero Galicia

Several large investors have recently bought and sold shares of the stock. RWC Asset Advisors US LLC grew its holdings in shares of Grupo Financiero Galicia by 848.1% during the third quarter. RWC Asset Advisors US LLC now owns 1,540,187 shares of the bank’s stock worth $42,448,000 after purchasing an additional 1,377,735 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Grupo Financiero Galicia by 52.2% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,937,465 shares of the bank’s stock worth $97,629,000 after buying an additional 664,533 shares during the last quarter. RWC Asset Management LLP grew its stake in Grupo Financiero Galicia by 240.3% during the 3rd quarter. RWC Asset Management LLP now owns 826,175 shares of the bank’s stock worth $22,769,000 after buying an additional 583,403 shares during the last quarter. Itau Unibanco Holding S.A. increased its position in Grupo Financiero Galicia by 90.5% during the second quarter. Itau Unibanco Holding S.A. now owns 893,965 shares of the bank’s stock worth $45,047,000 after buying an additional 424,693 shares during the period. Finally, Banco BTG Pactual S.A. increased its stake in Grupo Financiero Galicia by 198.3% in the second quarter. Banco BTG Pactual S.A. now owns 487,916 shares of the bank’s stock valued at $24,586,000 after purchasing an additional 324,358 shares during the period.

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.