Grupo Financiero Galicia (NASDAQ:GGAL) Reaches New 52-Week Low - Here's Why

Key Points

• Grupo Financiero Galicia shares reached a new 52-week low at $29.02, continuing a downward trend after closing at $29.95 previously.
• Recent analyst reports lead to a downgrade from Zacks Research to a "strong sell" rating, while Wall Street Zen upgraded the stock to a "hold" rating.
• The firm announced a special dividend payout of $0.1504 per share on September 5th, with a low payout ratio of 8.39%.

Grupo Financiero Galicia S.A. (NASDAQ:GGAL - Get Free Report) shares hit a new 52-week low on Monday . The company traded as low as $29.15 and last traded at $29.02, with a volume of 1382991 shares trading hands. The stock had previously closed at $29.95.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on GGAL. Wall Street Zen upgraded shares of Grupo Financiero Galicia from a "sell" rating to a "hold" rating in a research report on Sunday. Zacks Research lowered shares of Grupo Financiero Galicia from a "hold" rating to a "strong sell" rating in a research note on Thursday, August 28th. Finally, Citigroup lowered shares of Grupo Financiero Galicia from a "buy" rating to a "neutral" rating in a research note on Wednesday, September 10th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $81.00.

Grupo Financiero Galicia Stock Performance

The company has a debt-to-equity ratio of 0.23, a current ratio of 1.16 and a quick ratio of 1.16. The company has a market capitalization of $4.03 billion, a price-to-earnings ratio of 4.02 and a beta of 1.71. The stock has a 50 day simple moving average of $44.38 and a two-hundred day simple moving average of $52.35.

Grupo Financiero Galicia Cuts Dividend

The firm also recently declared a special dividend, which was paid on Friday, September 5th. Investors of record on Friday, August 29th were given a $0.1504 dividend. The ex-dividend date was Friday, August 29th. Grupo Financiero Galicia's dividend payout ratio is 8.39%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Blume Capital Management Inc. acquired a new position in Grupo Financiero Galicia in the 1st quarter valued at $55,000. Advisors Preferred LLC increased its stake in Grupo Financiero Galicia by 272.2% in the 1st quarter. Advisors Preferred LLC now owns 1,098 shares of the bank's stock valued at $61,000 after buying an additional 803 shares during the period. SBI Securities Co. Ltd. raised its stake in shares of Grupo Financiero Galicia by 240.5% during the 2nd quarter. SBI Securities Co. Ltd. now owns 1,202 shares of the bank's stock worth $61,000 after buying an additional 849 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Grupo Financiero Galicia in the 2nd quarter valued at approximately $151,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted 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 valued at $165,000 after buying an additional 304 shares in the last quarter.

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.