Grupo Financiero Galicia S.A. (NASDAQ:GGAL) Shares Sold by Deutsche Bank AG

Deutsche Bank AG lessened its holdings in Grupo Financiero Galicia S.A. (NASDAQ:GGAL - Free Report) by 16.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 25,000 shares of the bank's stock after selling 5,000 shares during the period. Deutsche Bank AG's holdings in Grupo Financiero Galicia were worth $1,558,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Townsquare Capital LLC increased its holdings in Grupo Financiero Galicia by 1.2% in the 4th quarter. Townsquare Capital LLC now owns 22,975 shares of the bank's stock valued at $1,432,000 after purchasing an additional 283 shares in the last quarter. R Squared Ltd purchased a new stake in shares of Grupo Financiero Galicia in the fourth quarter worth about $27,000. CIBC Private Wealth Group LLC purchased a new stake in shares of Grupo Financiero Galicia in the fourth quarter worth about $34,000. Commonwealth Equity Services LLC grew its stake in shares of Grupo Financiero Galicia by 11.3% in the fourth quarter. Commonwealth Equity Services LLC now owns 6,102 shares of the bank's stock valued at $380,000 after buying an additional 618 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Grupo Financiero Galicia by 41.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,134 shares of the bank's stock valued at $136,000 after buying an additional 624 shares during the period.

Wall Street Analysts Forecast Growth

GGAL has been the subject of a number of analyst reports. Wall Street Zen cut Grupo Financiero Galicia from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Itau BBA Securities initiated coverage on shares of Grupo Financiero Galicia in a research report on Tuesday, May 20th. They set an "outperform" rating and a $70.00 target price on the stock. One 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 currently has a consensus rating of "Moderate Buy" and a consensus price target of $61.20.

Grupo Financiero Galicia Stock Down 4.0%

Shares of NASDAQ:GGAL traded down $2.42 during trading on Thursday, hitting $58.17. The company's stock had a trading volume of 1,687,678 shares, compared to its average volume of 1,110,347. The company has a market capitalization of $8.58 billion, a PE ratio of 8.57 and a beta of 1.79. Grupo Financiero Galicia S.A. has a fifty-two week low of $23.53 and a fifty-two week high of $74.00. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.11 and a current ratio of 1.11. The stock's 50-day moving average price is $58.38 and its two-hundred day moving average price is $60.52.

Grupo Financiero Galicia Cuts Dividend

The business also recently declared a -- dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Tuesday, June 3rd will be given a dividend of $0.2631 per share. The ex-dividend date is Tuesday, June 3rd. Grupo Financiero Galicia's payout ratio is currently 34.76%.

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.