Grupo Financiero Galicia S.A. (NASDAQ:GGAL) Shares Bought by Banco Santander S.A.

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

A number of other hedge funds also recently made changes to their positions in GGAL. Commonwealth Equity Services LLC raised its position in Grupo Financiero Galicia by 11.3% during the fourth quarter. Commonwealth Equity Services LLC now owns 6,102 shares of the bank's stock valued at $380,000 after purchasing an additional 618 shares during the period. Schroder Investment Management Group raised its position in Grupo Financiero Galicia by 9.7% during the fourth quarter. Schroder Investment Management Group now owns 58,384 shares of the bank's stock valued at $3,638,000 after purchasing an additional 5,179 shares during the period. CIBC Private Wealth Group LLC purchased a new stake in Grupo Financiero Galicia during the fourth quarter valued at approximately $34,000. Franklin Resources Inc. purchased a new stake in Grupo Financiero Galicia during the fourth quarter valued at approximately $5,804,000. Finally, OLD Mission Capital LLC purchased a new stake in Grupo Financiero Galicia during the fourth quarter valued at approximately $320,000.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Itau BBA Securities began coverage on Grupo Financiero Galicia in a research report on Tuesday, May 20th. They set 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 note on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $61.20.

Grupo Financiero Galicia Stock Up 3.3%

Shares of GGAL traded up $1.65 during midday trading on Tuesday, hitting $50.95. 931,632 shares of the company's stock traded hands, compared to its average volume of 1,219,478. Grupo Financiero Galicia S.A. has a 1 year low of $26.33 and a 1 year high of $74.00. The firm's fifty day moving average is $51.88 and its 200-day moving average is $56.91. 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 $7.51 billion, a price-to-earnings ratio of 7.50 and a beta of 1.60.

Grupo Financiero Galicia Cuts Dividend

The firm also recently disclosed a -- dividend, which will be paid on Tuesday, August 5th. Stockholders of record on Tuesday, July 29th will be issued a dividend of $0.1515 per share. The ex-dividend date is Tuesday, July 29th. Grupo Financiero Galicia's dividend payout ratio is currently 16.94%.

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.