Grupo Financiero Galicia (NASDAQ:GGAL) Shares Down 7% - Time to Sell?

Key Points

• Grupo Financiero Galicia shares experienced a significant 7% drop to $32.09 amid increased trading volume, raising concerns about the stock's performance.
• Analysts have mixed views on the stock, with some upgrading to a "strong-buy" rating while others downgraded to "strong sell", reflecting differing outlooks on its future potential.
• The company announced a special $0.1381 dividend paid on October 7th, with a payout ratio of 10.46%, indicating continued commitment to returning value to shareholders.

Grupo Financiero Galicia S.A. (NASDAQ:GGAL - Get Free Report) shares dropped 7% on Friday . The company traded as low as $32.24 and last traded at $32.09. Approximately 1,275,647 shares traded hands during mid-day trading, a decline of 24% from the average daily volume of 1,679,491 shares. The stock had previously closed at $34.50.

Wall Street Analysts Forecast Growth

GGAL has been the topic of several research analyst reports. Zacks Research downgraded Grupo Financiero Galicia from a "hold" rating to a "strong sell" rating in a research note on Thursday, August 28th. Wall Street Zen cut Grupo Financiero Galicia from a "hold" rating to a "sell" rating in a research report on Friday, September 26th. Citigroup downgraded shares of Grupo Financiero Galicia from a "buy" rating to a "neutral" rating in a report on Wednesday, September 10th. Hsbc Global Res raised shares of Grupo Financiero Galicia to a "strong-buy" rating in a report on Wednesday, October 1st. Finally, HSBC started coverage on shares of Grupo Financiero Galicia in a research note on Wednesday, October 1st. They set a "buy" rating and a $60.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $74.00.

Grupo Financiero Galicia Trading Down 5.3%

The firm has a fifty day simple moving average of $38.09 and a two-hundred day simple moving average of $49.31. The stock has a market cap of $4.82 billion, a PE ratio of 4.79 and a beta of 1.54. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23.

Grupo Financiero Galicia Announces Dividend

The business also recently announced a special dividend, which was paid on Tuesday, October 7th. Investors of record on Tuesday, September 30th were paid a $0.1381 dividend. The ex-dividend date of this dividend was Tuesday, September 30th. Grupo Financiero Galicia's dividend payout ratio (DPR) is currently 10.46%.

Institutional Trading of Grupo Financiero Galicia

Several institutional investors and hedge funds have recently made changes to their positions in GGAL. Hsbc Holdings PLC raised its stake in shares of Grupo Financiero Galicia by 3.1% during the first 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 position in Grupo Financiero Galicia by 52.2% in the 2nd 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 period. PointState Capital LP raised its position in Grupo Financiero Galicia by 160.5% in the 1st quarter. PointState Capital LP now owns 1,504,157 shares of the bank's stock worth $81,931,000 after purchasing an additional 926,820 shares during the period. Itau Unibanco Holding S.A. raised its position in Grupo Financiero Galicia by 90.5% in the 2nd quarter. Itau Unibanco Holding S.A. now owns 893,965 shares of the bank's stock worth $45,047,000 after purchasing an additional 424,693 shares during the period. Finally, Banco BTG Pactual S.A. raised its position in Grupo Financiero Galicia by 198.3% in the 2nd quarter. Banco BTG Pactual S.A. now owns 487,916 shares of the bank's stock worth $24,586,000 after purchasing an additional 324,358 shares during the period.

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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