Bank of America Corp DE Increases Stake in Grupo Financiero Galicia S.A. (NASDAQ:GGAL)

Bank of America Corp DE grew its stake in shares of Grupo Financiero Galicia S.A. (NASDAQ:GGAL) by 86.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,861 shares of the bank’s stock after buying an additional 13,374 shares during the period. Bank of America Corp DE’s holdings in Grupo Financiero Galicia were worth $1,799,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. SMART Wealth LLC bought a new stake in shares of Grupo Financiero Galicia during the fourth quarter valued at approximately $295,000. BTG Pactual Asset Management US LLC bought a new stake in shares of Grupo Financiero Galicia during the fourth quarter valued at approximately $315,000. Deltec Asset Management LLC bought a new stake in shares of Grupo Financiero Galicia during the fourth quarter valued at approximately $262,000. Nkcfo LLC bought a new stake in shares of Grupo Financiero Galicia during the fourth quarter valued at approximately $312,000. Finally, Activest Wealth Management raised its position in shares of Grupo Financiero Galicia by 278.4% during the fourth quarter. Activest Wealth Management now owns 36,345 shares of the bank’s stock valued at $2,265,000 after buying an additional 26,741 shares during the last quarter.

Grupo Financiero Galicia Trading Down 0.1%

GGAL stock opened at $56.60 on Wednesday. The firm has a fifty day moving average price of $58.34 and a 200 day moving average price of $60.60. Grupo Financiero Galicia S.A. has a fifty-two week low of $23.53 and a fifty-two week high of $74.00. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a market cap of $8.35 billion, a PE ratio of 8.34 and a beta of 1.79.

Grupo Financiero Galicia Cuts Dividend

The firm also recently announced a — dividend, which will be paid on Tuesday, June 10th. Investors of record on Tuesday, June 3rd will be issued a $0.2631 dividend. The ex-dividend date of this dividend is Tuesday, June 3rd. Grupo Financiero Galicia’s dividend payout ratio (DPR) is presently 3.83%.

Analyst Upgrades and Downgrades

GGAL has been the topic of several recent analyst reports. Wall Street Zen cut shares of Grupo Financiero Galicia from a “hold” rating to a “sell” rating in a research report on Thursday, May 22nd. Itau BBA Securities initiated coverage on shares of Grupo Financiero Galicia in a research report on Tuesday, May 20th. They set an “outperform” rating and a $70.00 price objective on the stock. One analyst has rated the stock with a sell rating and five have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $61.20.

About Grupo Financiero Galicia

Grupo Financiero Galicia SA, a financial service holding company, provides various financial products and services to individuals and companies in Argentina. The company operates through Banks, NaranjaX, Insurance, and Other Businesses segments. It also offers personal loans; express and mortgage loans; pledge and credit card loans; credit and debit cards; and online banking services, as well as savings, deposits, and checking accounts related services.