Itau Unibanco Holding S.A. Has $24.62 Million Position in Grupo Financiero Galicia S.A. $GGAL

Key Points

• Itau Unibanco Holding S.A. has increased its stake in Grupo Financiero Galicia S.A. by 112.3%, acquiring an additional 248,268 shares, bringing its total to 469,272 shares in the first quarter.
• Analysts have given Grupo Financiero Galicia a consensus rating of "Buy" with an average target price of $67.50, although Wall Street Zen recently downgraded its rating from "hold" to "sell".
• The company announced a $0.1504 dividend to be paid on September 5th, with a dividend payout ratio currently at 6.19%.

Itau Unibanco Holding S.A. lifted its holdings in shares of Grupo Financiero Galicia S.A. (NASDAQ:GGAL - Free Report) by 112.3% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 469,272 shares of the bank's stock after purchasing an additional 248,268 shares during the period. Grupo Financiero Galicia accounts for about 0.9% of Itau Unibanco Holding S.A.'s portfolio, making the stock its 25th largest position. Itau Unibanco Holding S.A. owned 0.32% of Grupo Financiero Galicia worth $24,624,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Blume Capital Management Inc. bought a new position in shares of Grupo Financiero Galicia in the first quarter worth about $55,000. Advisors Preferred LLC raised its stake in shares of Grupo Financiero Galicia by 272.2% in the first quarter. Advisors Preferred LLC now owns 1,098 shares of the bank's stock worth $61,000 after acquiring an additional 803 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Grupo Financiero Galicia by 11.2% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,022 shares of the bank's stock worth $165,000 after acquiring an additional 304 shares during the last quarter. Wallace Advisory Group LLC bought a new position in shares of Grupo Financiero Galicia in the first quarter worth about $182,000. Finally, NewEdge Advisors LLC bought a new position in shares of Grupo Financiero Galicia in the fourth quarter worth about $225,000.

Grupo Financiero Galicia Stock Down 5.9%

Shares of NASDAQ GGAL traded down $2.32 during mid-day trading on Tuesday, reaching $36.96. 1,918,930 shares of the company's stock were exchanged, compared to its average volume of 1,333,703. The firm has a market capitalization of $5.45 billion, a price-to-earnings ratio of 5.45 and a beta of 1.71. 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 business has a fifty day simple moving average of $48.55 and a 200 day simple moving average of $54.37. Grupo Financiero Galicia S.A. has a twelve month low of $36.56 and a twelve month high of $74.00.

Grupo Financiero Galicia Cuts Dividend

The company also recently disclosed a special dividend, which will be paid on Friday, September 5th. Investors of record on Friday, August 29th will be issued a dividend of $0.1504 per share. The ex-dividend date is Friday, August 29th. Grupo Financiero Galicia's dividend payout ratio (DPR) is presently 8.39%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on GGAL shares. Wall Street Zen lowered Grupo Financiero Galicia from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Itau BBA Securities started coverage on Grupo Financiero Galicia in a research note on Tuesday, May 20th. They set an "outperform" rating and a $70.00 price target on the stock. Finally, Zacks Research lowered Grupo Financiero Galicia from a "hold" rating to a "strong sell" rating in a research note on Thursday, August 28th. Three analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Grupo Financiero Galicia presently has a consensus rating of "Moderate Buy" and a consensus price target of $72.00.

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.