Grupo Financiero Galicia S.A. (NASDAQ:GGAL) Given Average Rating of “Hold” by Brokerages

Shares of Grupo Financiero Galicia S.A. (NASDAQ:GGAL) have been given a consensus rating of “Hold” by the eight ratings firms that are presently covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $65.50.

A number of analysts have recently issued reports on GGAL shares. 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 target for the company. The Goldman Sachs Group raised shares of Grupo Financiero Galicia to a “hold” rating in a research report on Monday, November 10th. Wall Street Zen lowered shares of Grupo Financiero Galicia from a “hold” rating to a “sell” rating in a research note on Saturday, February 7th. Zacks Research lowered Grupo Financiero Galicia from a “hold” rating to a “strong sell” rating in a report on Monday, February 9th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Grupo Financiero Galicia in a research note on Monday, December 29th.

Grupo Financiero Galicia Price Performance

NASDAQ:GGAL opened at $44.85 on Friday. Grupo Financiero Galicia has a 12 month low of $25.89 and a 12 month high of $66.24. The business’s 50-day moving average is $51.85 and its two-hundred day moving average is $45.85. The firm has a market capitalization of $6.61 billion, a PE ratio of 22.65 and a beta of 1.44.

Grupo Financiero Galicia Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, March 9th. Stockholders of record on Monday, March 2nd will be given a $0.1541 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date is Monday, March 2nd. This is an increase from Grupo Financiero Galicia’s previous monthly dividend of $0.15. Grupo Financiero Galicia’s payout ratio is 88.38%.

Hedge Funds Weigh In On Grupo Financiero Galicia

Several hedge funds and other institutional investors have recently modified their holdings of the company. NewEdge Advisors LLC increased its stake in shares of Grupo Financiero Galicia by 149.5% in the first quarter. NewEdge Advisors LLC now owns 9,003 shares of the bank’s stock valued at $490,000 after purchasing an additional 5,394 shares during the period. AGF Management Ltd. acquired a new stake in Grupo Financiero Galicia in the 2nd quarter valued at approximately $12,662,000. SBI Securities Co. Ltd. raised its stake in Grupo Financiero Galicia by 240.5% during the 2nd quarter. SBI Securities Co. Ltd. now owns 1,202 shares of the bank’s stock valued at $61,000 after acquiring an additional 849 shares in the last quarter. Geode Capital Management LLC boosted its position in Grupo Financiero Galicia by 0.7% during the 2nd quarter. Geode Capital Management LLC now owns 54,525 shares of the bank’s stock worth $2,748,000 after acquiring an additional 362 shares during the period. Finally, Fiera Capital Corp bought a new position in shares of Grupo Financiero Galicia in the second quarter worth $5,555,000.

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.