Grupo Financiero Galicia (NASDAQ:GGAL) Trading Up 10.3% - Here's Why

Key Points

• Grupo Financiero Galicia's shares surged 10.3%, closing at $34.74 after a high of $36.35, with trading volume down 12% from the average.
• Analysts have mixed views on GGAL, with Citigroup downgrading it to "neutral" and Zacks giving it a "strong sell" rating, while Wall Street Zen upgraded it to "hold."
• The company announced a special dividend of $0.1381, payable on October 7, and has a current dividend payout ratio of 10.31%.

Grupo Financiero Galicia S.A. (NASDAQ:GGAL - Get Free Report) shares shot up 10.3% during trading on Wednesday . The stock traded as high as $36.35 and last traded at $34.74. 1,374,928 shares were traded during mid-day trading, a decline of 12% from the average session volume of 1,557,886 shares. The stock had previously closed at $31.51.

Analyst Upgrades and Downgrades

Several brokerages have commented on GGAL. Citigroup lowered shares of Grupo Financiero Galicia from a "buy" rating to a "neutral" rating in a report on Wednesday, September 10th. Zacks Research downgraded shares of Grupo Financiero Galicia from a "hold" rating to a "strong sell" rating in a research report on Thursday, August 28th. Finally, Wall Street Zen raised shares of Grupo Financiero Galicia from a "sell" rating to a "hold" rating in a research report on Sunday, September 14th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Grupo Financiero Galicia has a consensus rating of "Hold" and a consensus price target of $81.00.

Grupo Financiero Galicia Price Performance

The stock has a market capitalization of $5.04 billion, a PE ratio of 5.09 and a beta of 1.71. The firm's 50-day moving average price is $42.93 and its 200-day moving average price is $51.55. 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 Dividend Announcement

The business also recently announced a special dividend, which will be paid on Tuesday, October 7th. Shareholders of record on Tuesday, September 30th will be paid a $0.1381 dividend. The ex-dividend date is Tuesday, September 30th. Grupo Financiero Galicia's dividend payout ratio is currently 10.31%.

Hedge Funds Weigh In On Grupo Financiero Galicia

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Osaic Holdings Inc. bought a new position in shares of Grupo Financiero Galicia during the second quarter valued at approximately $439,000. Orion Porfolio Solutions LLC purchased a new stake in Grupo Financiero Galicia during the second quarter valued at approximately $386,000. Squarepoint Ops LLC purchased a new stake in Grupo Financiero Galicia during the second quarter valued at approximately $757,000. Marex Group plc purchased a new stake in Grupo Financiero Galicia during the second quarter valued at approximately $627,000. Finally, Lazard Asset Management LLC purchased a new position in shares of Grupo Financiero Galicia in the second quarter worth $3,282,000.

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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