Grupo Financiero Galicia S.A. $GGAL Shares Sold by Bank of New Hampshire

Key Points

• Bank of New Hampshire has reduced its holdings in Grupo Financiero Galicia by 75.5%, owning only 4,825 shares now, valued at approximately $243,000.
• The stock price of Grupo Financiero Galicia has increased by 3.7%, currently trading at $30.25, with a twelve-month high of $74.00.
• The company has cut its dividend, paying a special dividend of $0.1504 per share to shareholders on record as of August 29th, resulting in a dividend payout ratio of 8.39%.

Bank of New Hampshire lowered its holdings in Grupo Financiero Galicia S.A. (NASDAQ:GGAL - Free Report) by 75.5% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,825 shares of the bank's stock after selling 14,901 shares during the quarter. Bank of New Hampshire's holdings in Grupo Financiero Galicia were worth $243,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GGAL. PointState Capital LP raised its position in Grupo Financiero Galicia by 160.5% in the first quarter. PointState Capital LP now owns 1,504,157 shares of the bank's stock valued at $81,931,000 after purchasing an additional 926,820 shares during the period. Hsbc Holdings PLC raised its position in Grupo Financiero Galicia by 3.1% in the first quarter. Hsbc Holdings PLC now owns 11,851,835 shares of the bank's stock valued at $644,503,000 after purchasing an additional 359,708 shares during the period. Itau Unibanco Holding S.A. raised its position in Grupo Financiero Galicia by 112.3% in the first quarter. Itau Unibanco Holding S.A. now owns 469,272 shares of the bank's stock valued at $24,624,000 after purchasing an additional 248,268 shares during the period. Victory Capital Management Inc. purchased a new stake in Grupo Financiero Galicia in the first quarter valued at $7,209,000. Finally, Gemsstock Ltd. raised its position in Grupo Financiero Galicia by 47.0% in the first quarter. Gemsstock Ltd. now owns 334,086 shares of the bank's stock valued at $18,198,000 after purchasing an additional 106,779 shares during the period.

Grupo Financiero Galicia Stock Up 3.7%

Grupo Financiero Galicia stock opened at $30.25 on Wednesday. Grupo Financiero Galicia S.A. has a twelve month low of $29.00 and a twelve month high of $74.00. The stock has a 50 day moving average of $44.79 and a two-hundred day moving average of $52.51. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $4.46 billion, a price-to-earnings ratio of 4.46 and a beta of 1.71.

Grupo Financiero Galicia Cuts Dividend

The business also recently disclosed a special dividend, which was paid on Friday, September 5th. Shareholders of record on Friday, August 29th were given a dividend of $0.1504 per share. The ex-dividend date of this dividend was Friday, August 29th. Grupo Financiero Galicia's dividend payout ratio (DPR) is presently 8.39%.

Analyst Ratings Changes

A number of equities research analysts have commented on GGAL shares. Itau BBA Securities initiated coverage on Grupo Financiero Galicia in a research report on Tuesday, May 20th. They issued an "outperform" rating and a $70.00 target price on the stock. Wall Street Zen upgraded Grupo Financiero Galicia from a "sell" rating to a "hold" rating in a report on Sunday. Zacks Research downgraded Grupo Financiero Galicia from a "hold" rating to a "strong sell" rating in a report on Thursday, August 28th. Finally, Citigroup downgraded 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 assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $81.00.

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.

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