Grupo Financiero Galicia (NASDAQ:GGAL) Upgraded to Hold at Wall Street Zen

Key Points

• Grupo Financiero Galicia (NASDAQ:GGAL) was upgraded from a "sell" rating to a "hold" rating by Wall Street Zen.
• Analysts have mixed reviews on the stock, with an average target price of $81.00 and ratings ranging from "strong sell" to "outperform".
• The stock opened at $29.95, with a fifty-two week low of $29.16 and a high of $74.00, and a market capitalization of $4.42 billion.

Wall Street Zen upgraded shares of Grupo Financiero Galicia (NASDAQ:GGAL - Free Report) from a sell rating to a hold rating in a research note issued to investors on Sunday.

A number of other research firms have also recently weighed in on GGAL. Zacks Research cut Grupo Financiero Galicia from a "hold" rating to a "strong sell" rating in a research note 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 price target on the stock. Finally, Citigroup cut Grupo Financiero Galicia from a "buy" rating to a "neutral" rating in a research note on Wednesday. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $81.00.

Grupo Financiero Galicia Trading Down 2.6%

GGAL traded down $0.77 during mid-day trading on Friday, hitting $29.18. 1,806,658 shares of the stock were exchanged, compared to its average volume of 3,013,711. The firm's fifty day moving average is $45.20 and its two-hundred day moving average is $52.67. Grupo Financiero Galicia has a 1-year low of $29.00 and a 1-year high of $74.00. 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 company has a market cap of $4.30 billion, a PE ratio of 4.30 and a beta of 1.71.

Grupo Financiero Galicia Cuts Dividend

The company also recently announced 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 was Friday, August 29th. Grupo Financiero Galicia's dividend payout ratio (DPR) is 8.39%.

Institutional Trading of Grupo Financiero Galicia

Hedge funds have recently made changes to their positions in the company. Osaic Holdings Inc. acquired a new position in shares of Grupo Financiero Galicia during the 2nd quarter worth $439,000. Orion Porfolio Solutions LLC acquired a new position in shares of Grupo Financiero Galicia during the 2nd quarter worth $386,000. Squarepoint Ops LLC acquired a new position in shares of Grupo Financiero Galicia during the 2nd quarter worth $757,000. Marex Group plc acquired a new position in shares of Grupo Financiero Galicia during the 2nd quarter worth $627,000. Finally, Lazard Asset Management LLC acquired a new position in shares of Grupo Financiero Galicia during the 2nd 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.