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

Key Points

• Grupo Financiero Galicia recently hit a new 52-week low, trading as low as $37.46, significantly lower than its previous closing price of $39.28.
• Analysts are divided on the stock's prospects, with some firms downgrading the shares to a "sell" rating while others maintain a "buy" rating, resulting in a consensus target price of $72.00.
• The company has announced a special dividend of $0.1504 per share, set to be paid on September 5th with a payout ratio of 8.39%.

Shares of Grupo Financiero Galicia S.A. (NASDAQ:GGAL - Get Free Report) reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $37.46 and last traded at $37.85, with a volume of 62947 shares changing hands. The stock had previously closed at $39.28.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on GGAL. Itau BBA Securities began coverage on Grupo Financiero Galicia in a research report on Tuesday, May 20th. They issued an "outperform" rating and a $70.00 price target for the company. Zacks Research lowered Grupo Financiero Galicia from a "hold" rating to a "strong sell" rating in a research report on Thursday, August 28th. Finally, Wall Street Zen lowered Grupo Financiero Galicia from a "hold" rating to a "sell" rating in a research report on Saturday. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Grupo Financiero Galicia currently has a consensus rating of "Hold" and an average price target of $81.00.

Grupo Financiero Galicia Stock Up 0.3%

The company has a market capitalization of $5.91 billion, a PE ratio of 5.91 and a beta of 1.71. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.23. The firm has a 50-day moving average of $47.55 and a two-hundred day moving average of $53.86.

Grupo Financiero Galicia Cuts Dividend

The firm also recently disclosed 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 presently 8.39%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Blume Capital Management Inc. purchased a new position in Grupo Financiero Galicia in the first quarter worth approximately $55,000. Advisors Preferred LLC lifted its stake in Grupo Financiero Galicia by 272.2% during the first quarter. Advisors Preferred LLC now owns 1,098 shares of the bank's stock worth $61,000 after purchasing an additional 803 shares in the last quarter. SBI Securities Co. Ltd. lifted its stake in Grupo Financiero Galicia by 240.5% during the second quarter. SBI Securities Co. Ltd. now owns 1,202 shares of the bank's stock worth $61,000 after purchasing an additional 849 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Grupo Financiero Galicia during the second quarter worth $151,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Grupo Financiero Galicia by 11.2% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,022 shares of the bank's stock worth $165,000 after purchasing an additional 304 shares in the last quarter.

Grupo Financiero Galicia Company 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.