Banco Santander S.A. Buys 28,528 Shares of Grupo Financiero Galicia S.A. (NASDAQ:GGAL)

Key Points

• Banco Santander S.A. significantly increased its holdings in Grupo Financiero Galicia S.A. by 578.7% during the first quarter, now owning 33,458 shares valued at $1,822,000.
• Several institutional investors, including Hsbc Holdings PLC, raised their stakes in Grupo Financiero Galicia, indicating strong interest in the stock.
• Grupo Financiero Galicia has undergone a dividend cut, with a recent payout of $0.1515 scheduled for August 5th, reflecting a dividend payout ratio of 16.94%.

Banco Santander S.A. boosted its holdings in shares of Grupo Financiero Galicia S.A. (NASDAQ:GGAL - Free Report) by 578.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 33,458 shares of the bank's stock after buying an additional 28,528 shares during the quarter. Banco Santander S.A.'s holdings in Grupo Financiero Galicia were worth $1,822,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Hsbc Holdings PLC grew its position in shares of Grupo Financiero Galicia by 9,082.3% during the 4th quarter. Hsbc Holdings PLC now owns 11,492,127 shares of the bank's stock worth $721,935,000 after purchasing an additional 11,366,972 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of Grupo Financiero Galicia in the fourth quarter valued at approximately $78,711,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Grupo Financiero Galicia by 19.1% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,222,938 shares of the bank's stock worth $76,213,000 after purchasing an additional 196,270 shares during the last quarter. PointState Capital LP increased its stake in shares of Grupo Financiero Galicia by 14.5% in the 4th quarter. PointState Capital LP now owns 577,337 shares of the bank's stock valued at $35,980,000 after acquiring an additional 73,168 shares in the last quarter. Finally, Two Sigma Investments LP raised its position in shares of Grupo Financiero Galicia by 0.4% during the fourth quarter. Two Sigma Investments LP now owns 471,443 shares of the bank's stock worth $29,380,000 after purchasing an additional 1,917 shares during the period.

Grupo Financiero Galicia Stock Down 1.3%

GGAL stock traded down $0.65 during midday trading on Friday, hitting $50.95. The company's stock had a trading volume of 619,786 shares, compared to its average volume of 1,267,845. 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 company has a market cap of $7.51 billion, a PE ratio of 7.50 and a beta of 1.60. The firm's 50-day moving average is $51.60 and its 200-day moving average is $56.77. Grupo Financiero Galicia S.A. has a 12 month low of $32.25 and a 12 month high of $74.00.

Grupo Financiero Galicia Cuts Dividend

The business also recently disclosed a -- dividend, which was paid on Tuesday, August 5th. Stockholders of record on Tuesday, July 29th were paid a $0.1515 dividend. The ex-dividend date of this dividend was Tuesday, July 29th. Grupo Financiero Galicia's dividend payout ratio (DPR) is 16.79%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on GGAL shares. Itau BBA Securities began coverage on Grupo Financiero Galicia in a research note on Tuesday, May 20th. They set an "outperform" rating and a $70.00 price objective on the stock. Wall Street Zen downgraded Grupo Financiero Galicia from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $61.20.

Grupo Financiero Galicia Company 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.