Grupo Financiero Galicia (NASDAQ:GGAL) Downgraded to Strong Sell Rating by Zacks Research

Key Points

• Grupo Financiero Galicia (NASDAQ: GGAL) was downgraded from a "hold" to a "strong sell" rating by Zacks Research, reflecting a negative shift in investment sentiment.
• The stock is currently trading at approximately $39.28, significantly below its 52-week high of $74.00, indicating a challenging market environment.
• Despite the downgrade, three analysts still rate GGAL as a Buy, with a consensus target price of $72.00, suggesting some underlying optimism in the stock's potential recovery.

Zacks Research lowered shares of Grupo Financiero Galicia (NASDAQ:GGAL - Free Report) from a hold rating to a strong sell rating in a report published on Thursday morning,Zacks.com reports.

GGAL has been the subject of a number of other research reports. Itau BBA Securities began coverage on Grupo Financiero Galicia in a research report on Tuesday, May 20th. They set an "outperform" rating and a $70.00 price objective for the company. Wall Street Zen lowered Grupo Financiero Galicia from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $72.00.

Grupo Financiero Galicia Price Performance

Grupo Financiero Galicia stock traded down $1.04 during midday trading on Thursday, reaching $38.44. 2,428,784 shares of the company were exchanged, compared to its average volume of 1,352,666. The company has a market capitalization of $5.67 billion, a price-to-earnings ratio of 5.66 and a beta of 1.71. The firm's 50-day simple moving average is $48.28 and its 200-day simple moving average is $54.27. Grupo Financiero Galicia has a 1 year low of $36.56 and a 1 year high of $74.00. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.16.

Grupo Financiero Galicia Cuts Dividend

The firm also recently disclosed a special dividend, which will be paid on Friday, September 5th. Shareholders 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 payout ratio is currently 8.39%.

Institutional Investors Weigh In On Grupo Financiero Galicia

Several hedge funds and other institutional investors have recently bought and sold shares of GGAL. Wells Fargo & Company MN increased its holdings in Grupo Financiero Galicia by 494.1% during the 4th quarter. Wells Fargo & Company MN now owns 5,050 shares of the bank's stock worth $315,000 after purchasing an additional 4,200 shares during the last quarter. Northern Trust Corp raised its position in shares of Grupo Financiero Galicia by 50.7% during the 4th quarter. Northern Trust Corp now owns 12,581 shares of the bank's stock valued at $784,000 after acquiring an additional 4,234 shares in the last quarter. Schonfeld Strategic Advisors LLC acquired a new stake in shares of Grupo Financiero Galicia during the 4th quarter valued at approximately $841,000. Absolute Gestao de Investimentos Ltda. acquired a new stake in shares of Grupo Financiero Galicia during the 4th quarter valued at approximately $1,507,000. Finally, Ameriprise Financial Inc. acquired a new stake in shares of Grupo Financiero Galicia during the 4th quarter valued at approximately $24,089,000.

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.