Grupo Financiero Galicia (NASDAQ:GGAL) Trading Down 3.8% - Should You Sell?

Key Points

• Grupo Financiero Galicia's stock fell 3.8% during trading, marking a decline from previous highs with a trading price of $28.43.
• Analysts have issued mixed ratings on the stock, with Citigroup downgrading it to "neutral" while Wall Street Zen upgraded it to "hold"; the average target price for the stock remains at $81.00.
• The company recently cut its dividend payout ratio to 8.39% and declared a special dividend of $0.1504 per share, paid on September 5th.

Grupo Financiero Galicia S.A. (NASDAQ:GGAL - Get Free Report) shares fell 3.8% during trading on Thursday . The stock traded as low as $28.54 and last traded at $28.43. 604,082 shares traded hands during mid-day trading, a decline of 59% from the average session volume of 1,468,633 shares. The stock had previously closed at $29.56.

Analyst Ratings Changes

Several brokerages have commented on GGAL. Citigroup cut shares of Grupo Financiero Galicia from a "buy" rating to a "neutral" rating in a report on Wednesday, September 10th. Wall Street Zen upgraded shares of Grupo Financiero Galicia from a "sell" rating to a "hold" rating in a report on Sunday. Finally, Zacks Research cut shares of Grupo Financiero Galicia from a "hold" rating to a "strong sell" rating in a report on Thursday, August 28th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $81.00.

Grupo Financiero Galicia Stock Performance

The company has a debt-to-equity ratio of 0.23, a current ratio of 1.16 and a quick ratio of 1.16. The firm has a market capitalization of $3.98 billion, a price-to-earnings ratio of 3.97 and a beta of 1.71. The firm's fifty day moving average is $44.38 and its 200 day moving average is $52.35.

Grupo Financiero Galicia Cuts Dividend

The firm also recently disclosed a special dividend, which was paid on Friday, September 5th. Investors of record on Friday, August 29th were given a dividend of $0.1504 per share. The ex-dividend date of this dividend was Friday, August 29th. Grupo Financiero Galicia's dividend payout ratio (DPR) is presently 8.39%.

Hedge Funds Weigh In On Grupo Financiero Galicia

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Blume Capital Management Inc. bought a new position in Grupo Financiero Galicia during the first quarter valued at approximately $55,000. Advisors Preferred LLC raised its position in Grupo Financiero Galicia by 272.2% during the first 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. raised its position in Grupo Financiero Galicia by 240.5% during the second 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. bought a new position in Grupo Financiero Galicia during the second quarter valued at approximately $151,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Grupo Financiero Galicia by 11.2% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,022 shares of the bank's stock valued at $165,000 after acquiring an additional 304 shares in the last quarter.

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.

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