Grupo Financiero Galicia (NASDAQ:GGAL) Reaches New 1-Year Low - Here's Why

Key Points

• Grupo Financiero Galicia hit a new 52-week low, trading as low as $29.26, well below its 50-day average of $38.23 and 200-day average of $45.17.
• Recent analyst moves were cautious: UBS cut its price target to $45 and kept a neutral rating, while Itau BBA and Weiss Ratings downgraded the stock. Overall, analysts have a consensus “Hold” rating.
• The bank beat quarterly earnings and revenue estimates, but reduced its monthly dividend from $0.0531 to $0.0479 per share.

Grupo Financiero Galicia S.A. (NASDAQ:GGAL - Get Free Report)'s share price reached a new 52-week low during trading on Monday. The company traded as low as $29.26 and last traded at $29.4650, with a volume of 126,829 shares. The stock had previously closed at $29.44.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. UBS Group reduced their target price on Grupo Financiero Galicia from $60.00 to $45.00 and set a "neutral" rating for the company in a report on Tuesday, October 13th. Itau BBA Securities lowered Grupo Financiero Galicia from an "outperform" rating to a "market perform" rating in a research report on Thursday, September 3rd. Finally, Weiss Ratings lowered Grupo Financiero Galicia from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday, August 14th. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $65.00.

Grupo Financiero Galicia Trading Up 0.9%

The firm's fifty day moving average price is $38.23 and its 200 day moving average price is $45.17. The firm has a market capitalization of $4.77 billion, a PE ratio of 12.14, a PEG ratio of 0.16 and a beta of 1.35.

Grupo Financiero Galicia (NASDAQ:GGAL - Get Free Report) last released its quarterly earnings data on Tuesday, August 25th. The bank reported $1.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.98 by $0.16. The firm had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.70 billion. As a group, research analysts expect that Grupo Financiero Galicia S.A. will post 3.88 EPS for the current year.

Grupo Financiero Galicia Cuts Dividend

The firm also recently disclosed a monthly dividend, which was paid on Monday, October 5th. Investors of record on Monday, September 28th were given a dividend of $0.0479 per share. The ex-dividend date of this dividend was Monday, September 28th. This is a drop from Grupo Financiero Galicia's previous monthly dividend of $0.0531. This represents a $0.57 annualized dividend and a yield of 1.9%. Grupo Financiero Galicia's payout ratio is 23.27%.

Institutional Trading of Grupo Financiero Galicia

Several large investors have recently added to or reduced their stakes in GGAL. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Grupo Financiero Galicia in the 3rd quarter valued at approximately $68,000. RWC Asset Management LLP raised its position in shares of Grupo Financiero Galicia by 4.3% in the third quarter. RWC Asset Management LLP now owns 890,348 shares of the bank's stock valued at $33,157,000 after purchasing an additional 36,903 shares during the period. Robeco Institutional Asset Management B.V. bought a new position in shares of Grupo Financiero Galicia in the third quarter valued at approximately $47,235,000. ABS Direct Equity Fund LLC bought a new position in shares of Grupo Financiero Galicia in the second quarter valued at approximately $3,394,000. Finally, Carrhae Capital LLP acquired a new stake in shares of Grupo Financiero Galicia in the second quarter worth $68,052,000.

About Grupo Financiero Galicia

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.