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

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 been given an average rating of "Buy" by the five ratings firms that are presently covering the stock, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a buy recommendation. The average 12 month price target among brokers that have covered the stock in the last year is $61.20.

Several analysts have issued reports on the stock. Wall Street Zen downgraded shares of Grupo Financiero Galicia from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Itau BBA Securities began 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 Down 3.2%

NASDAQ GGAL traded down $1.70 during trading on Friday, hitting $51.43. The stock had a trading volume of 913,281 shares, compared to its average volume of 1,269,887. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.16. The stock has a market capitalization of $7.58 billion, a price-to-earnings ratio of 7.59 and a beta of 1.60. Grupo Financiero Galicia has a one year low of $29.00 and a one year high of $74.00. The stock has a 50 day simple moving average of $51.74 and a 200 day simple moving average of $56.88.

Grupo Financiero Galicia Cuts Dividend

The firm also recently disclosed a -- dividend, which was paid on Tuesday, August 5th. Investors of record on Tuesday, July 29th were issued a $0.1515 dividend. The ex-dividend date was Tuesday, July 29th. Grupo Financiero Galicia's dividend payout ratio is currently 16.94%.

Hedge Funds Weigh In On Grupo Financiero Galicia

A number of hedge funds have recently made changes to their positions in GGAL. AGF Management Ltd. acquired a new stake in shares of Grupo Financiero Galicia in the second quarter valued at $12,662,000. AdvisorShares Investments LLC lifted its position in shares of Grupo Financiero Galicia by 16.6% during the 2nd quarter. AdvisorShares Investments LLC now owns 37,253 shares of the bank's stock worth $1,877,000 after purchasing an additional 5,317 shares during the last quarter. Whittier Trust Co. lifted its position in Grupo Financiero Galicia by 11.6% in the second quarter. Whittier Trust Co. now owns 13,842 shares of the bank's stock valued at $697,000 after acquiring an additional 1,442 shares during the last quarter. Activest Wealth Management lifted its position in Grupo Financiero Galicia by 1.8% in the second quarter. Activest Wealth Management now owns 33,728 shares of the bank's stock valued at $1,700,000 after acquiring an additional 581 shares during the last quarter. Finally, Bayforest Capital Ltd purchased a new position in shares of Grupo Financiero Galicia during the second quarter worth about $269,000.

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.