Grupo Financiero Galicia S.A. (NASDAQ:GGAL) Given Consensus Rating of "Hold" by Brokerages

Key Points

• Grupo Financiero Galicia S.A. has received a consensus rating of "Hold" from five brokerages, with one analyst rating it as a sell and three as a buy.
• Institutional investors have increased their holdings in Grupo Financiero Galicia, with MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raising their stake by 52.2% in the last quarter alone.
• The company announced a special dividend of $0.1381 per share, which will be paid on October 7th to shareholders recorded as of September 30th.

Grupo Financiero Galicia S.A. (NASDAQ:GGAL - Get Free Report) has earned a consensus rating of "Hold" from the five ratings firms that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $74.00.

A number of equities research analysts have recently issued reports on the stock. Zacks Research downgraded shares of Grupo Financiero Galicia from a "hold" rating to a "strong sell" rating in a research note on Thursday, August 28th. Wall Street Zen downgraded shares of Grupo Financiero Galicia from a "hold" rating to a "sell" rating in a research note on Friday, September 26th. HSBC set a $60.00 target price on shares of Grupo Financiero Galicia and gave the stock a "buy" rating in a report on Wednesday. Finally, Citigroup lowered shares of Grupo Financiero Galicia from a "buy" rating to a "neutral" rating in a report on Wednesday, September 10th.

Institutional Investors Weigh In On Grupo Financiero Galicia

A number of hedge funds and other institutional investors have recently modified their holdings of GGAL. Hsbc Holdings PLC raised its holdings in shares of Grupo Financiero Galicia by 3.1% in the 1st quarter. Hsbc Holdings PLC now owns 11,851,835 shares of the bank's stock valued at $644,503,000 after purchasing an additional 359,708 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Grupo Financiero Galicia by 52.2% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,937,465 shares of the bank's stock valued at $97,629,000 after purchasing an additional 664,533 shares in the last quarter. PointState Capital LP raised its holdings in shares of Grupo Financiero Galicia by 160.5% in the 1st quarter. PointState Capital LP now owns 1,504,157 shares of the bank's stock valued at $81,931,000 after purchasing an additional 926,820 shares in the last quarter. Itau Unibanco Holding S.A. raised its holdings in shares of Grupo Financiero Galicia by 90.5% in the 2nd quarter. Itau Unibanco Holding S.A. now owns 893,965 shares of the bank's stock valued at $45,047,000 after purchasing an additional 424,693 shares in the last quarter. Finally, Banco BTG Pactual S.A. raised its holdings in shares of Grupo Financiero Galicia by 198.3% in the 2nd quarter. Banco BTG Pactual S.A. now owns 487,916 shares of the bank's stock valued at $24,586,000 after purchasing an additional 324,358 shares in the last quarter.

Grupo Financiero Galicia Trading Down 0.4%

NASDAQ:GGAL traded down $0.12 on Wednesday, hitting $27.44. The stock had a trading volume of 495,947 shares, compared to its average volume of 1,609,824. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.23. The stock has a market cap of $4.05 billion, a price-to-earnings ratio of 4.04 and a beta of 1.71. The company has a fifty day moving average price of $41.21 and a two-hundred day moving average price of $50.63. Grupo Financiero Galicia has a 1-year low of $25.89 and a 1-year high of $74.00.

Grupo Financiero Galicia Announces Dividend

The firm also recently announced a special dividend, which will be paid on Tuesday, October 7th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $0.1381 per share. The ex-dividend date is Tuesday, September 30th. Grupo Financiero Galicia's dividend payout ratio is 8.39%.

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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