Harbour Capital Advisors LLC Acquires 12,330 Shares of Grupo Financiero Galicia S.A. (NASDAQ:GGAL)

Harbour Capital Advisors LLC raised its holdings in shares of Grupo Financiero Galicia S.A. (NASDAQ:GGAL - Free Report) by 199.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,525 shares of the bank's stock after purchasing an additional 12,330 shares during the period. Harbour Capital Advisors LLC's holdings in Grupo Financiero Galicia were worth $993,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Handelsbanken Fonder AB raised its holdings in shares of Grupo Financiero Galicia by 35.3% during the fourth quarter. Handelsbanken Fonder AB now owns 19,165 shares of the bank's stock valued at $1,194,000 after acquiring an additional 5,000 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new position in Grupo Financiero Galicia during the 4th quarter valued at $604,000. DJE Kapital AG bought a new position in Grupo Financiero Galicia in the 4th quarter worth $1,843,000. Fourth Sail Capital LP purchased a new stake in shares of Grupo Financiero Galicia in the 4th quarter worth about $27,369,000. Finally, Aigen Investment Management LP bought a new stake in shares of Grupo Financiero Galicia during the 4th quarter valued at about $466,000.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Itau BBA Securities assumed coverage on shares of Grupo Financiero Galicia in a research note on Tuesday, May 20th. They issued an "outperform" rating and a $70.00 price target for the company. Wall Street Zen cut Grupo Financiero Galicia from a "hold" rating to a "sell" rating in a research note 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's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $61.20.

Grupo Financiero Galicia Stock Down 1.9%

Shares of GGAL traded down $1.01 during mid-day trading on Wednesday, reaching $51.67. The company had a trading volume of 1,152,716 shares, compared to its average volume of 1,149,631. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.16. The company has a market capitalization of $7.62 billion, a price-to-earnings ratio of 7.61 and a beta of 1.72. The firm has a 50-day moving average price of $58.88 and a 200 day moving average price of $60.30. 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 declared a -- dividend, which was paid on Tuesday, June 10th. Stockholders of record on Tuesday, June 3rd were given a $0.2631 dividend. The ex-dividend date was Tuesday, June 3rd. Grupo Financiero Galicia's dividend payout ratio is presently 3.83%.

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.