Bank of America Corp DE Purchases 13,374 Shares of Grupo Financiero Galicia S.A. (NASDAQ:GGAL)

Bank of America Corp DE increased its stake in Grupo Financiero Galicia S.A. (NASDAQ:GGAL - Free Report) by 86.4% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 28,861 shares of the bank's stock after buying an additional 13,374 shares during the quarter. Bank of America Corp DE's holdings in Grupo Financiero Galicia were worth $1,799,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GGAL. Hsbc Holdings PLC boosted its holdings in shares of Grupo Financiero Galicia by 9,082.3% in the 4th quarter. Hsbc Holdings PLC now owns 11,492,127 shares of the bank's stock worth $721,935,000 after buying an additional 11,366,972 shares during the last quarter. Axiom Investors LLC DE raised its stake in Grupo Financiero Galicia by 1,723.9% in the 4th quarter. Axiom Investors LLC DE now owns 1,520,960 shares of the bank's stock valued at $94,786,000 after acquiring an additional 1,437,570 shares during the period. Canada Pension Plan Investment Board bought a new stake in Grupo Financiero Galicia in the 4th quarter valued at about $78,711,000. William Blair Investment Management LLC raised its stake in Grupo Financiero Galicia by 778.9% in the 4th quarter. William Blair Investment Management LLC now owns 901,065 shares of the bank's stock valued at $56,152,000 after acquiring an additional 798,542 shares during the period. Finally, Fourth Sail Capital LP bought a new stake in Grupo Financiero Galicia in the 4th quarter valued at about $27,369,000.

Grupo Financiero Galicia Price Performance

Shares of GGAL stock traded up $0.51 during trading on Thursday, hitting $54.38. The company had a trading volume of 905,313 shares, compared to its average volume of 1,110,248. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.10. The stock's 50-day moving average is $58.30 and its two-hundred day moving average is $60.55. The stock has a market capitalization of $8.02 billion, a price-to-earnings ratio of 8.01 and a beta of 1.79. Grupo Financiero Galicia S.A. has a 52 week low of $23.53 and a 52 week high of $74.00.

Grupo Financiero Galicia Cuts Dividend

The business also recently disclosed a -- dividend, which will be paid on Tuesday, June 10th. Investors of record on Tuesday, June 3rd will be given a $0.2631 dividend. The ex-dividend date is Tuesday, June 3rd. Grupo Financiero Galicia's dividend payout ratio (DPR) is 3.83%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on GGAL. Itau BBA Securities began coverage on Grupo Financiero Galicia in a research note on Tuesday, May 20th. They issued an "outperform" rating and a $70.00 price objective on the stock. Wall Street Zen cut Grupo Financiero Galicia from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. According to MarketBeat.com, Grupo Financiero Galicia currently has a consensus rating of "Moderate Buy" and a consensus price target of $61.20.

Grupo Financiero Galicia Profile

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.