Grupo Financiero Galicia Sees Unusually High Options Volume (NASDAQ:GGAL)

Key Points

• Grupo Financiero Galicia saw a significant increase in options trading, with 8,314 call options purchased, up approximately 61% from the daily average.
• The company also announced a special dividend of $0.1381 per share, payable on October 7th to investors of record as of September 30th.
• Recent analyst ratings show mixed sentiments, with Citigroup and Zacks downgrading the stock, while two analysts still maintain a Buy rating and the consensus rating remains a "Hold."

Grupo Financiero Galicia S.A. (NASDAQ:GGAL - Get Free Report) was the target of some unusual options trading activity on Friday. Investors purchased 8,314 call options on the company. This represents an increase of approximately 61% compared to the average daily volume of 5,160 call options.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Vontobel Holding Ltd. bought a new stake in shares of Grupo Financiero Galicia in the first quarter valued at $225,000. Whittier Trust Co. bought a new stake in shares of Grupo Financiero Galicia in the first quarter valued at $675,000. Banco Santander S.A. raised its stake in shares of Grupo Financiero Galicia by 578.7% in the first quarter. Banco Santander S.A. now owns 33,458 shares of the bank's stock valued at $1,822,000 after buying an additional 28,528 shares during the period. ABS Direct Equity Fund LLC raised its stake in shares of Grupo Financiero Galicia by 95.4% in the first quarter. ABS Direct Equity Fund LLC now owns 20,791 shares of the bank's stock valued at $1,132,000 after buying an additional 10,152 shares during the period. Finally, Bank of America Corp DE raised its stake in shares of Grupo Financiero Galicia by 86.4% in the fourth quarter. Bank of America Corp DE now owns 28,861 shares of the bank's stock valued at $1,799,000 after buying an additional 13,374 shares during the period.

Grupo Financiero Galicia Price Performance

Shares of GGAL stock traded up $0.43 on Friday, hitting $30.96. 286,795 shares of the company's stock were exchanged, compared to its average volume of 1,592,721. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.16 and a quick ratio of 1.16. Grupo Financiero Galicia has a 12 month low of $25.89 and a 12 month high of $74.00. The stock has a market cap of $4.57 billion, a P/E ratio of 4.54 and a beta of 1.71. The company has a 50 day moving average of $42.32 and a 200 day moving average of $51.26.

Grupo Financiero Galicia Announces Dividend

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

Wall Street Analyst Weigh In

GGAL has been the topic of a number of research reports. Citigroup cut shares of Grupo Financiero Galicia from a "buy" rating to a "neutral" rating in a research note on Wednesday, September 10th. Zacks Research downgraded shares of Grupo Financiero Galicia from a "hold" rating to a "strong sell" rating in a report on Thursday, August 28th. Finally, Wall Street Zen raised shares of Grupo Financiero Galicia from a "sell" rating to a "hold" rating in a research report on Sunday, September 14th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $81.00.

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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