Grupo Financiero Galicia (NASDAQ:GGAL) Trading Up 4.5% - Here's Why

Key Points

• Grupo Financiero Galicia (NASDAQ:GGAL) experienced a 4.5% increase in stock price, reaching around $32.02, despite a 7% decline in trading volume compared to its average.
• Recent analyst ratings show a mix of sentiment, with Zacks downgrading the stock to "strong sell," while Itau BBA Securities issued an "outperform" rating with a target price of $70.00.
• The company has a debt-to-equity ratio of 0.23, and its recent special dividend paid to shareholders was $0.1504, reflecting a payout ratio of 8.39%.

Grupo Financiero Galicia S.A. (NASDAQ:GGAL - Get Free Report) rose 4.5% during trading on Tuesday . The company traded as high as $31.59 and last traded at $32.02. Approximately 1,325,126 shares were traded during trading, a decline of 7% from the average daily volume of 1,427,963 shares. The stock had previously closed at $30.65.

Wall Street Analysts Forecast Growth

GGAL has been the topic of a number of recent research reports. Zacks Research cut Grupo Financiero Galicia from a "hold" rating to a "strong sell" rating in a research report on Thursday, August 28th. Itau BBA Securities initiated coverage on Grupo Financiero Galicia in a research note on Tuesday, May 20th. They issued an "outperform" rating and a $70.00 target price on the stock. Finally, Wall Street Zen lowered Grupo Financiero Galicia from a "hold" rating to a "sell" rating in a research report on Saturday. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Grupo Financiero Galicia currently has an average rating of "Hold" and a consensus price target of $81.00.

Grupo Financiero Galicia Stock Up 1.2%

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 stock has a market cap of $4.57 billion, a PE ratio of 4.57 and a beta of 1.71. The company has a 50 day moving average price of $47.15 and a two-hundred day moving average price of $53.61.

Grupo Financiero Galicia Cuts Dividend

The firm also recently disclosed a special dividend, which was paid on Friday, September 5th. Stockholders of record on Friday, August 29th were paid a $0.1504 dividend. The ex-dividend date of this dividend was Friday, August 29th. Grupo Financiero Galicia's dividend payout ratio is 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 company. Osaic Holdings Inc. purchased a new stake in Grupo Financiero Galicia during the second quarter valued at approximately $439,000. Orion Porfolio Solutions LLC bought a new position in shares of Grupo Financiero Galicia during the second quarter valued at approximately $386,000. Squarepoint Ops LLC bought a new position in shares of Grupo Financiero Galicia during the second quarter valued at approximately $757,000. Marex Group plc bought a new position in shares of Grupo Financiero Galicia during the second quarter valued at approximately $627,000. Finally, Lazard Asset Management LLC bought a new position in shares of Grupo Financiero Galicia during the second quarter valued at approximately $3,282,000.

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.

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