Grupo Financiero Galicia (NASDAQ:GGAL) Reaches New 12-Month Low - Here's Why

Key Points

• Grupo Financiero Galicia's shares have reached a new 52-week low at $29.23, marking a significant decline from a previous closing price of $40.10.
• Zacks Research recently downgraded the company's rating from "hold" to "strong sell," while two other analysts maintain a Buy rating, highlighting mixed sentiments on the stock's performance.
• The company declared a special dividend of $0.1504 per share, with a current dividend payout ratio of 8.39%.

Grupo Financiero Galicia S.A. (NASDAQ:GGAL - Get Free Report) shares hit a new 52-week low during trading on Monday . The stock traded as low as $29.23 and last traded at $31.99, with a volume of 2494229 shares traded. The stock had previously closed at $40.10.

Wall Street Analyst Weigh In

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

Grupo Financiero Galicia Trading Down 19.2%

The firm has a market capitalization of $4.78 billion, a PE ratio of 4.78 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 moving average price of $47.55 and a two-hundred day moving average price of $53.81.

Grupo Financiero Galicia Cuts Dividend

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

Hedge Funds Weigh In On Grupo Financiero Galicia

Several hedge funds have recently bought and sold shares of GGAL. Hsbc Holdings PLC raised its position in shares of Grupo Financiero Galicia by 3.1% during the 1st quarter. Hsbc Holdings PLC now owns 11,851,835 shares of the bank's stock worth $644,503,000 after acquiring an additional 359,708 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Grupo Financiero Galicia by 52.2% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,937,465 shares of the bank's stock worth $97,629,000 after purchasing an additional 664,533 shares during the last quarter. PointState Capital LP raised its holdings in shares of Grupo Financiero Galicia by 160.5% in the first quarter. PointState Capital LP now owns 1,504,157 shares of the bank's stock worth $81,931,000 after acquiring an additional 926,820 shares during the last quarter. Itau Unibanco Holding S.A. raised its holdings in shares of Grupo Financiero Galicia by 90.5% in the second quarter. Itau Unibanco Holding S.A. now owns 893,965 shares of the bank's stock worth $45,047,000 after acquiring an additional 424,693 shares during the last quarter. Finally, Banco BTG Pactual S.A. boosted its position in shares of Grupo Financiero Galicia by 198.3% in the second quarter. Banco BTG Pactual S.A. now owns 487,916 shares of the bank's stock worth $24,586,000 after acquiring an additional 324,358 shares during 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.

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