Grupo Financiero Galicia (NASDAQ:GGAL) Trading Down 4.5% - Here's What Happened

Key Points

• Grupo Financiero Galicia saw a decline of 4.5% in its stock price, closing at $43.24 after trading as low as $42.71 during mid-day trading.
• Analysts have mixed ratings with Wall Street Zen downgrading the company from a "hold" to a "sell," while Itau BBA Securities rated it as "outperform" with a $70.00 price target.
• The company recently announced a dividend of $0.1504 per share, which will be paid on September 5th, with a dividend payout ratio of 6.19%.

Grupo Financiero Galicia S.A. (NASDAQ:GGAL - Get Free Report) shares fell 4.5% during mid-day trading on Monday . The company traded as low as $42.71 and last traded at $43.24. 378,183 shares traded hands during trading, a decline of 70% from the average session volume of 1,253,453 shares. The stock had previously closed at $45.27.

Wall Street Analysts Forecast Growth

Several research analysts have commented on GGAL shares. Zacks Research downgraded Grupo Financiero Galicia from a "hold" rating to a "strong sell" rating in a report on Thursday. Itau BBA Securities started coverage on shares of 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. Finally, Wall Street Zen cut shares of Grupo Financiero Galicia from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Three investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $72.00.

Grupo Financiero Galicia Price Performance

The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.16. The firm has a market cap of $5.79 billion, a price-to-earnings ratio of 5.78 and a beta of 1.60. The stock's 50 day simple moving average is $48.77 and its 200-day simple moving average is $54.57.

Grupo Financiero Galicia Cuts Dividend

The business also recently declared a special dividend, which will be paid on Friday, September 5th. Shareholders of record on Friday, August 29th will be paid a dividend of $0.1504 per share. The ex-dividend date is Friday, August 29th. Grupo Financiero Galicia's dividend payout ratio is presently 8.39%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Hsbc Holdings PLC grew its position in Grupo Financiero Galicia by 3.1% during the first quarter. Hsbc Holdings PLC now owns 11,851,835 shares of the bank's stock valued at $644,503,000 after buying an additional 359,708 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position 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 valued at $97,629,000 after buying an additional 664,533 shares during the period. PointState Capital LP grew its position in Grupo Financiero Galicia by 160.5% during the first quarter. PointState Capital LP now owns 1,504,157 shares of the bank's stock valued at $81,931,000 after buying an additional 926,820 shares during the period. Itau Unibanco Holding S.A. grew its position in Grupo Financiero Galicia by 90.5% during the second quarter. Itau Unibanco Holding S.A. now owns 893,965 shares of the bank's stock valued at $45,047,000 after buying an additional 424,693 shares during the period. Finally, Banco BTG Pactual S.A. grew its position in Grupo Financiero Galicia by 198.3% during the second quarter. Banco BTG Pactual S.A. now owns 487,916 shares of the bank's stock valued at $24,586,000 after buying an additional 324,358 shares during the period.

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.