Harbour Capital Advisors LLC Grows Stake in Grupo Financiero Galicia S.A. (NASDAQ:GGAL)

Harbour Capital Advisors LLC raised its stake in shares of Grupo Financiero Galicia S.A. (NASDAQ:GGAL - Free Report) by 199.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GGAL. CIBC Private Wealth Group LLC purchased a new stake in Grupo Financiero Galicia during the fourth quarter valued at approximately $34,000. Compass Group LLC purchased a new stake in Grupo Financiero Galicia during the fourth quarter valued at approximately $67,000. GeoWealth Management LLC purchased a new stake in Grupo Financiero Galicia during the fourth quarter valued at approximately $71,000. Wallace Advisory Group LLC bought a new position in shares of Grupo Financiero Galicia during the first quarter valued at approximately $182,000. Finally, Mirabella Financial Services LLP bought a new position in shares of Grupo Financiero Galicia during the fourth quarter valued at approximately $217,000.

Analyst Ratings Changes

A number of research firms have recently commented on GGAL. Wall Street Zen cut Grupo Financiero Galicia from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. 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 target price on the stock. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $61.20.

Grupo Financiero Galicia Trading Down 0.5%

Shares of GGAL traded down $0.28 during mid-day trading on Friday, reaching $51.67. 896,062 shares of the company's stock traded hands, compared to its average volume of 1,147,950. The stock has a market cap of $7.62 billion, a P/E ratio of 7.61 and a beta of 1.72. The stock's 50-day moving average is $58.30 and its two-hundred day moving average is $60.15. Grupo Financiero Galicia S.A. has a 12 month low of $23.53 and a 12 month high of $74.00. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.16 and a quick ratio of 1.16.

Grupo Financiero Galicia Cuts Dividend

The company also recently disclosed a -- dividend, which was paid on Tuesday, June 10th. Shareholders of record on Tuesday, June 3rd were issued a dividend of $0.2631 per share. The ex-dividend date of this dividend was Tuesday, June 3rd. Grupo Financiero Galicia's payout ratio is currently 3.98%.

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.