Grupo Financiero Galicia (NASDAQ:GGAL) Shares Cross Above 200 Day Moving Average - Should You Sell?

Key Points

• Grupo Financiero Galicia (NASDAQ: GGAL) rose above its 200-day moving average, trading as high as $50.46 and last changing hands near $49.95.
• Analyst sentiment is mixed but currently leans cautious: the consensus rating is Hold with a consensus target price of $68.33, while JPMorgan recently raised its target to $85 and kept an Overweight rating.
• The company recently reported Q2 earnings below expectations, with EPS of $0.29 versus $0.36 expected and revenue of $1.55 billion versus $1.70 billion expected, even as insiders and some institutional investors increased their holdings.

Shares of Grupo Financiero Galicia S.A. (NASDAQ:GGAL - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $48.34 and traded as high as $50.46. Grupo Financiero Galicia shares last traded at $49.95, with a volume of 667,536 shares traded.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Wall Street Zen upgraded Grupo Financiero Galicia from a "sell" rating to a "hold" rating in a research report on Saturday, June 27th. Weiss Ratings restated a "sell (d+)" rating on shares of Grupo Financiero Galicia in a research report on Wednesday, June 24th. JPMorgan Chase & Co. lifted their price target on shares of Grupo Financiero Galicia from $72.00 to $85.00 and gave the stock an "overweight" rating in a research note on Thursday, June 25th. Finally, Zacks Research raised Grupo Financiero Galicia from a "strong sell" rating to a "hold" rating in a research note on Thursday, May 14th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Grupo Financiero Galicia currently has a consensus rating of "Hold" and a consensus target price of $68.33.

Grupo Financiero Galicia Trading Up 0.0%

The stock has a fifty day simple moving average of $49.30 and a 200 day simple moving average of $48.34. The firm has a market capitalization of $8.02 billion, a P/E ratio of 22.00, a PEG ratio of 0.34 and a beta of 1.34. The company has a quick ratio of 1.16, a current ratio of 1.13 and a debt-to-equity ratio of 0.32.

Grupo Financiero Galicia (NASDAQ:GGAL - Get Free Report) last released its quarterly earnings data on Tuesday, May 26th. The bank reported $0.29 earnings per share for the quarter, missing analysts' consensus estimates of $0.36 by ($0.07). The firm had revenue of $1.55 billion during the quarter, compared to analysts' expectations of $1.70 billion. As a group, research analysts forecast that Grupo Financiero Galicia S.A. will post 3.74 EPS for the current year.

Grupo Financiero Galicia Dividend Announcement

The business also recently disclosed a monthly dividend, which was paid on Monday, May 11th. Shareholders of record on Monday, May 4th were issued a dividend of $0.6229 per share. This represents a c) dividend on an annualized basis and a yield of 15.0%. The ex-dividend date of this dividend was Monday, May 4th. Grupo Financiero Galicia's dividend payout ratio (DPR) is 214.10%.

Insider Activity

In related news, Director Silvestre Vila Moret bought 224,000 shares of the stock in a transaction dated Wednesday, July 8th. The shares were purchased at an average price of $5.36 per share, with a total value of $1,200,640.00. Following the completion of the acquisition, the director owned 3,000,000 shares of the company's stock, valued at $16,080,000. This represents a 8.07% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have purchased a total of 802,791 shares of company stock worth $4,253,109 in the last quarter.

Hedge Funds Weigh In On Grupo Financiero Galicia

Institutional investors have recently bought and sold shares of the stock. NewEdge Advisors LLC lifted its stake in Grupo Financiero Galicia by 149.5% in the 1st quarter. NewEdge Advisors LLC now owns 9,003 shares of the bank's stock worth $490,000 after purchasing an additional 5,394 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Grupo Financiero Galicia by 0.7% in the second quarter. Geode Capital Management LLC now owns 54,525 shares of the bank's stock worth $2,748,000 after purchasing an additional 362 shares during the last quarter. Cetera Investment Advisers increased its holdings in shares of Grupo Financiero Galicia by 1.9% in the second quarter. Cetera Investment Advisers now owns 11,824 shares of the bank's stock worth $596,000 after purchasing an additional 226 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Grupo Financiero Galicia by 93.2% in the second quarter. JPMorgan Chase & Co. now owns 75,302 shares of the bank's stock worth $3,794,000 after buying an additional 36,326 shares in the last quarter. Finally, Marshall Wace LLP bought a new stake in Grupo Financiero Galicia in the 2nd quarter worth approximately $5,299,000.

Grupo Financiero Galicia Company Profile

Grupo Financiero Galicia is a diversified financial services holding company headquartered in Buenos Aires, Argentina. As one of the country's largest private-sector financial institutions, the company provides a comprehensive suite of banking, insurance and investment products to individual, small-to-medium enterprise (SME) and corporate clients. Its operations span retail and commercial banking, asset management, leasing, factoring and pension fund administration.

The core banking segment offers deposit and lending services, credit and debit cards, payment solutions and digital banking platforms.

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