Grupo Financiero Galicia (NASDAQ:GGAL) Stock Price Down 5.7% - What's Next?

Key Points

• Grupo Financiero Galicia's stock price decreased by 5.7%, reaching $29.50, with a trading volume decline of 7% compared to its average session volume.
• Several firms have downgraded the stock ratings, including Wall Street Zen from "hold" to "sell" and Citigroup from "buy" to "neutral," while Zacks Research has issued a "strong sell" rating.
• The company announced a special dividend of $0.1504 per share, with a payout ratio currently at 8.39%, reflecting its recent financial adjustments.

Grupo Financiero Galicia S.A. (NASDAQ:GGAL - Get Free Report) fell 5.7% during mid-day trading on Friday . The stock traded as low as $29.49 and last traded at $29.50. 1,355,149 shares changed hands during mid-day trading, a decline of 7% from the average session volume of 1,462,623 shares. The stock had previously closed at $31.27.

Wall Street Analyst Weigh In

Several research firms have issued reports on GGAL. Wall Street Zen cut Grupo Financiero Galicia from a "hold" rating to a "sell" rating in a report on Saturday, September 6th. Citigroup cut Grupo Financiero Galicia from a "buy" rating to a "neutral" rating in a report on Wednesday. Itau BBA Securities began 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 objective on the stock. Finally, Zacks Research cut shares of Grupo Financiero Galicia from a "hold" rating to a "strong sell" rating in a research report on Thursday, August 28th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $81.00.

Grupo Financiero Galicia Stock Performance

The firm's fifty day moving average price is $46.00 and its 200 day moving average price is $53.12. 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 firm has a market capitalization of $4.37 billion, a PE ratio of 4.36 and a beta of 1.71.

Grupo Financiero Galicia Cuts Dividend

The business 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 payout ratio is currently 8.39%.

Hedge Funds Weigh In On Grupo Financiero Galicia

Institutional investors and hedge funds have recently modified their holdings of the stock. Blume Capital Management Inc. purchased a new position in shares of Grupo Financiero Galicia during the 1st quarter valued at $55,000. Advisors Preferred LLC grew its holdings in shares of Grupo Financiero Galicia by 272.2% during the 1st quarter. Advisors Preferred LLC now owns 1,098 shares of the bank's stock valued at $61,000 after acquiring an additional 803 shares in the last quarter. SBI Securities Co. Ltd. grew its holdings in shares of Grupo Financiero Galicia by 240.5% during the 2nd quarter. SBI Securities Co. Ltd. now owns 1,202 shares of the bank's stock valued at $61,000 after acquiring an additional 849 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Grupo Financiero Galicia during the 2nd quarter valued at $151,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Grupo Financiero Galicia by 11.2% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,022 shares of the bank's stock worth $165,000 after purchasing an additional 304 shares in 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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