Grupo Financiero Galicia (NASDAQ:GGAL) Stock Price Crosses Above 200 Day Moving Average – Here’s What Happened

Grupo Financiero Galicia S.A. (NASDAQ:GGAL)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $46.89 and traded as high as $48.59. Grupo Financiero Galicia shares last traded at $47.57, with a volume of 1,392,782 shares.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on GGAL. Wall Street Zen cut shares of Grupo Financiero Galicia from a “hold” rating to a “sell” rating in a report on Saturday, February 7th. Weiss Ratings restated a “sell (d+)” rating on shares of Grupo Financiero Galicia in a report on Friday, March 27th. JPMorgan Chase & Co. cut their target price on shares of Grupo Financiero Galicia from $75.00 to $72.00 and set an “overweight” rating on the stock in a report on Thursday, February 19th. Finally, Zacks Research cut shares of Grupo Financiero Galicia from a “hold” rating to a “strong sell” rating in a report on Monday, February 9th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $65.50.

Grupo Financiero Galicia Price Performance

The business has a 50 day moving average of $46.37 and a 200 day moving average of $46.89. The company has a market cap of $7.02 billion, a PE ratio of 24.03 and a beta of 1.46.

Grupo Financiero Galicia (NASDAQ:GGAL) last announced its quarterly earnings results on Saturday, February 14th. The bank reported ($0.36) EPS for the quarter. The business had revenue of $666.89 million during the quarter. Grupo Financiero Galicia had a return on equity of 18.96% and a net margin of 7.13%. Sell-side analysts forecast that Grupo Financiero Galicia S.A. will post 7.49 EPS for the current fiscal year.

Grupo Financiero Galicia Increases Dividend

The company also recently disclosed a monthly dividend, which was paid on Monday, April 6th. Shareholders of record on Monday, March 30th were given a dividend of $0.16 per share. This is an increase from Grupo Financiero Galicia’s previous monthly dividend of $0.15. This represents a c) annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend was Monday, March 30th. Grupo Financiero Galicia’s payout ratio is 96.97%.

Hedge Funds Weigh In On Grupo Financiero Galicia

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cetera Investment Advisers lifted its position in Grupo Financiero Galicia by 1.9% during the second quarter. Cetera Investment Advisers now owns 11,824 shares of the bank’s stock valued at $596,000 after buying an additional 226 shares during the period. Geode Capital Management LLC increased its holdings in shares of Grupo Financiero Galicia by 0.7% during the second quarter. Geode Capital Management LLC now owns 54,525 shares of the bank’s stock valued at $2,748,000 after acquiring an additional 362 shares in the last quarter. Rokos Capital Management LLP increased its holdings in shares of Grupo Financiero Galicia by 0.4% during the second quarter. Rokos Capital Management LLP now owns 110,167 shares of the bank’s stock valued at $5,549,000 after acquiring an additional 408 shares in the last quarter. Hantz Financial Services Inc. increased its holdings in shares of Grupo Financiero Galicia by 131.6% during the third quarter. Hantz Financial Services Inc. now owns 938 shares of the bank’s stock valued at $26,000 after acquiring an additional 533 shares in the last quarter. Finally, Lazard Asset Management LLC increased its holdings in shares of Grupo Financiero Galicia by 1.0% during the third quarter. Lazard Asset Management LLC now owns 65,810 shares of the bank’s stock valued at $1,814,000 after acquiring an additional 677 shares in the last quarter.

About Grupo Financiero Galicia

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.