Grupo Financiero Galicia S.A. $GGAL Shares Acquired by Hsbc Holdings PLC

Key Points

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Hsbc Holdings PLC boosted its position in shares of Grupo Financiero Galicia S.A. (NASDAQ:GGAL - Free Report) by 3.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,851,835 shares of the bank's stock after purchasing an additional 359,708 shares during the period. Hsbc Holdings PLC owned approximately 8.04% of Grupo Financiero Galicia worth $644,503,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Vontobel Holding Ltd. acquired a new stake in Grupo Financiero Galicia during the 1st quarter valued at $225,000. Whittier Trust Co. acquired a new position in Grupo Financiero Galicia during the 1st quarter worth $675,000. Banco Santander S.A. grew its holdings in Grupo Financiero Galicia by 578.7% during the 1st quarter. Banco Santander S.A. now owns 33,458 shares of the bank's stock worth $1,822,000 after acquiring an additional 28,528 shares in the last quarter. Bank of America Corp DE grew its holdings in Grupo Financiero Galicia by 86.4% during the 4th quarter. Bank of America Corp DE now owns 28,861 shares of the bank's stock worth $1,799,000 after acquiring an additional 13,374 shares in the last quarter. Finally, ABS Direct Equity Fund LLC grew its holdings in Grupo Financiero Galicia by 95.4% during the 1st quarter. ABS Direct Equity Fund LLC now owns 20,791 shares of the bank's stock worth $1,132,000 after acquiring an additional 10,152 shares in the last quarter.

Grupo Financiero Galicia Stock Performance

Shares of NASDAQ GGAL traded down $0.84 during midday trading on Friday, hitting $45.27. The company's stock had a trading volume of 1,819,616 shares, compared to its average volume of 1,048,464. Grupo Financiero Galicia S.A. has a 1-year low of $33.04 and a 1-year high of $74.00. The firm's fifty day moving average price is $50.10 and its 200-day moving average price is $55.21. 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 firm has a market cap of $6.68 billion, a P/E ratio of 6.67 and a beta of 1.60.

Grupo Financiero Galicia Cuts Dividend

The firm also recently declared a -- dividend, which will be paid on Friday, September 5th. Stockholders of record on Friday, August 29th will be issued a $0.1504 dividend. The ex-dividend date of this dividend is Friday, August 29th. Grupo Financiero Galicia's payout ratio is 6.19%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Itau BBA Securities assumed coverage on shares of Grupo Financiero Galicia in a report on Tuesday, May 20th. They set an "outperform" rating and a $70.00 price objective for the company. Wall Street Zen lowered shares of Grupo Financiero Galicia from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $67.50.

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.