Grupo Financiero Galicia (NASDAQ:GGAL) Shares Gap Up Following Dividend Announcement

Grupo Financiero Galicia S.A. (NASDAQ:GGAL)’s share price gapped up before the market opened on Monday after the company announced a dividend. The stock had previously closed at $26.45, but opened at $31.12. Grupo Financiero Galicia shares last traded at $30.54, with a volume of 2,840,825 shares trading hands.

The newly announced dividend which will be paid on Tuesday, October 7th. Shareholders of record on Tuesday, September 30th will be given a dividend of $0.1381 per share. The ex-dividend date of this dividend is Tuesday, September 30th. Grupo Financiero Galicia’s dividend payout ratio (DPR) is 8.39%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Zacks Research downgraded shares of Grupo Financiero Galicia from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 28th. Wall Street Zen raised shares of Grupo Financiero Galicia from a “sell” rating to a “hold” rating in a research report on Sunday, September 14th. Finally, Citigroup cut shares of Grupo Financiero Galicia from a “buy” rating to a “neutral” rating in a report on Wednesday, September 10th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $81.00.

Grupo Financiero Galicia Stock Up 21.1%

The firm has a market capitalization of $4.72 billion, a P/E ratio of 4.72 and a beta of 1.71. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.16. The business’s fifty day moving average price is $43.25 and its two-hundred day moving average price is $51.69.

Institutional Trading of Grupo Financiero Galicia

A number of institutional investors have recently bought and sold shares of the stock. Hsbc Holdings PLC boosted its stake in Grupo Financiero Galicia by 3.1% in the 1st quarter. Hsbc Holdings PLC now owns 11,851,835 shares of the bank’s stock worth $644,503,000 after purchasing an additional 359,708 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in 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 worth $97,629,000 after purchasing an additional 664,533 shares in the last quarter. PointState Capital LP boosted its stake in Grupo Financiero Galicia by 160.5% in the 1st quarter. PointState Capital LP now owns 1,504,157 shares of the bank’s stock worth $81,931,000 after purchasing an additional 926,820 shares in the last quarter. Itau Unibanco Holding S.A. boosted 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 worth $45,047,000 after purchasing an additional 424,693 shares in the last quarter. Finally, Banco BTG Pactual S.A. boosted its stake in Grupo Financiero Galicia by 198.3% in the 2nd quarter. Banco BTG Pactual S.A. now owns 487,916 shares of the bank’s stock worth $24,586,000 after purchasing an additional 324,358 shares in the last quarter.

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.