Grupo Financiero Galicia S.A. (NASDAQ:GGAL) Stock Has Consensus Target Price of $65.00 According to Brokerages

Key Points

• Analysts have a consensus “Hold” rating on Grupo Financiero Galicia, with one sell, four hold, and one buy recommendation; the average 12-month price target is $65.
• Recent analyst moves were cautious: UBS lowered its price target from $60 to $45 with a neutral rating, while Itau BBA and Weiss Ratings also downgraded the stock.
• The bank beat quarterly estimates, reporting EPS of $1.14 versus $0.98 expected and revenue of $1.87 billion versus $1.70 billion expected. It also reduced its monthly dividend from $0.0531 to $0.0479 per share.

Grupo Financiero Galicia S.A. (NASDAQ:GGAL - Get Free Report) has been given a consensus recommendation of "Hold" by the six analysts that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $65.00.

Several equities analysts have recently weighed in on the stock. Itau BBA Securities lowered shares of Grupo Financiero Galicia from an "outperform" rating to a "market perform" rating in a report on Thursday, September 3rd. UBS Group dropped their price target on shares of Grupo Financiero Galicia from $60.00 to $45.00 and set a "neutral" rating on the stock in a research report on Tuesday, October 13th. Finally, Weiss Ratings downgraded Grupo Financiero Galicia from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday, August 14th.

Institutional Investors Weigh In On Grupo Financiero Galicia

A number of hedge funds have recently made changes to their positions in the business. Carrhae Capital LLP purchased a new stake in shares of Grupo Financiero Galicia during the 2nd quarter worth approximately $68,052,000. Robeco Institutional Asset Management B.V. bought a new stake in shares of Grupo Financiero Galicia in the 3rd quarter worth approximately $47,235,000. RWC Asset Management LLP increased its stake in shares of Grupo Financiero Galicia by 4.3% in the third quarter. RWC Asset Management LLP now owns 890,348 shares of the bank's stock worth $33,157,000 after buying an additional 36,903 shares during the period. RWC Asset Advisors US LLC lifted its position in shares of Grupo Financiero Galicia by 52.2% in the 2nd quarter. RWC Asset Advisors US LLC now owns 517,540 shares of the bank's stock worth $25,893,000 after purchasing an additional 177,574 shares during the period. Finally, Moerus Capital Management LLC purchased a new position in Grupo Financiero Galicia during the 1st quarter valued at about $8,179,000.

Grupo Financiero Galicia Stock Down 1.7%

Shares of NASDAQ GGAL opened at $30.95 on Thursday. Grupo Financiero Galicia has a twelve month low of $30.65 and a twelve month high of $61.20. The firm has a fifty day simple moving average of $38.78 and a 200 day simple moving average of $45.38. The company has a market capitalization of $4.97 billion, a PE ratio of 12.63, a P/E/G ratio of 0.17 and a beta of 1.35.

Grupo Financiero Galicia (NASDAQ:GGAL - Get Free Report) last issued its quarterly earnings results on Tuesday, August 25th. The bank reported $1.14 earnings per share for the quarter, topping analysts' consensus estimates of $0.98 by $0.16. The business had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.70 billion. As a group, equities analysts expect that Grupo Financiero Galicia will post 3.88 earnings per share for the current fiscal year.

Grupo Financiero Galicia Cuts Dividend

The firm also recently declared a monthly dividend, which was paid on Monday, October 5th. Investors of record on Monday, September 28th were given a dividend of $0.0479 per share. The ex-dividend date of this dividend was Monday, September 28th. This is a negative change from Grupo Financiero Galicia's previous monthly dividend of $0.0531. This represents a $0.57 dividend on an annualized basis and a dividend yield of 1.9%. Grupo Financiero Galicia's dividend payout ratio (DPR) is 23.27%.

Grupo Financiero Galicia Company Profile

Grupo Financiero Galicia SA is an Argentine financial services holding company whose principal business is conducted through Banco de Galicia y Buenos Aires SAU., commonly known as Galicia. The group serves individuals, businesses, agricultural customers and public-sector entities across Argentina.

Through its banking operations, Galicia offers deposit accounts, consumer and commercial loans, credit and debit cards, payment services, cash management, foreign trade financing, investment products and digital banking services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.