Grupo Financiero Galicia S.A. (NASDAQ:GGAL) Receives $61.20 Consensus Target Price from Analysts

Key Points

• Grupo Financiero Galicia S.A. (NASDAQ:GGAL) has an average consensus recommendation of "Buy" from five investment analysts, with a 1-year price target of $61.20.
• Shares recently experienced a 3.1% decline, opening at $48.91 after hitting a 1-year low of $23.53 and a high of $74.00.
• The company announced a dividend cut, with a payout of $0.1515 set for August 5th, reflecting a dividend payout ratio of 16.94%.

Grupo Financiero Galicia S.A. (NASDAQ:GGAL - Get Free Report) has earned an average recommendation of "Buy" from the five research firms that are presently covering the company, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a buy recommendation. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $61.20.

Several research analysts have commented on GGAL shares. Wall Street Zen downgraded Grupo Financiero Galicia from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Itau BBA Securities started coverage on Grupo Financiero Galicia in a research report on Tuesday, May 20th. They set an "outperform" rating and a $70.00 price target on the stock.

Grupo Financiero Galicia Trading Up 3.3%

GGAL traded up $1.65 on Friday, reaching $50.95. 931,632 shares of the company traded hands, compared to its average volume of 1,219,478. The company has a market cap of $7.51 billion, a P/E ratio of 7.50 and a beta of 1.60. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.23. Grupo Financiero Galicia has a one year low of $26.33 and a one year high of $74.00. The firm has a fifty day simple moving average of $51.88 and a two-hundred day simple moving average of $56.91.

Grupo Financiero Galicia Cuts Dividend

The firm also recently declared a -- dividend, which will be paid on Tuesday, August 5th. Shareholders of record on Tuesday, July 29th will be paid a $0.1515 dividend. The ex-dividend date is Tuesday, July 29th. Grupo Financiero Galicia's dividend payout ratio (DPR) is 16.94%.

Institutional Investors Weigh In On Grupo Financiero Galicia

Large investors have recently modified their holdings of the business. Hsbc Holdings PLC increased its holdings in Grupo Financiero Galicia by 3.1% in the first quarter. Hsbc Holdings PLC now owns 11,851,835 shares of the bank's stock valued at $644,503,000 after buying an additional 359,708 shares in the last quarter. PointState Capital LP boosted its holdings in 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 during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Grupo Financiero Galicia by 4.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,272,932 shares of the bank's stock valued at $69,337,000 after buying an additional 49,994 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in Grupo Financiero Galicia during the fourth quarter worth $78,711,000. Finally, Two Sigma Investments LP grew its holdings in shares of Grupo Financiero Galicia by 0.4% in the fourth quarter. Two Sigma Investments LP now owns 471,443 shares of the bank's stock valued at $29,380,000 after purchasing an additional 1,917 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.