Grupo Financiero Galicia (NASDAQ:GGAL) Shares Gap Down - Here's Why

Grupo Financiero Galicia S.A. (NASDAQ:GGAL - Get Free Report)'s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $57.33, but opened at $55.00. Grupo Financiero Galicia shares last traded at $55.82, with a volume of 2,400,197 shares trading hands.

Analyst Ratings Changes

GGAL has been the topic of a number of recent analyst reports. Wall Street Zen lowered shares of Grupo Financiero Galicia from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Itau BBA Securities initiated coverage on shares of 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. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $61.20.

Grupo Financiero Galicia Trading Down 0.1%

The stock has a market capitalization of $8.28 billion, a P/E ratio of 8.27 and a beta of 1.72. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.10. The firm's 50-day simple moving average is $58.51 and its 200 day simple moving average is $60.50.

Grupo Financiero Galicia (NASDAQ:GGAL - Get Free Report) last released its quarterly earnings results on Tuesday, June 10th. The bank reported $0.96 earnings per share (EPS) for the quarter. The firm had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.62 billion. Equities research analysts anticipate that Grupo Financiero Galicia S.A. will post 7.49 EPS for the current fiscal year.

Grupo Financiero Galicia Cuts Dividend

The business also recently disclosed a -- dividend, which was paid on Tuesday, June 10th. Investors of record on Tuesday, June 3rd were given a dividend of $0.2631 per share. The ex-dividend date of this dividend was Tuesday, June 3rd. Grupo Financiero Galicia's payout ratio is presently 3.83%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. CIBC Private Wealth Group LLC bought a new stake in shares of Grupo Financiero Galicia during the 4th quarter worth about $34,000. Blume Capital Management Inc. bought a new stake in Grupo Financiero Galicia during the 1st quarter worth approximately $55,000. Compass Group LLC acquired a new position in Grupo Financiero Galicia in the fourth quarter worth $67,000. Advisors Preferred LLC lifted its position in Grupo Financiero Galicia by 272.2% during the 1st quarter. Advisors Preferred LLC now owns 1,098 shares of the bank's stock worth $61,000 after buying an additional 803 shares in the last quarter. Finally, GeoWealth Management LLC bought a new stake in shares of Grupo Financiero Galicia during the fourth quarter valued at approximately $71,000.

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.