Stock Traders Purchase High Volume of Grupo Financiero Galicia Put Options (NASDAQ:GGAL)

Key Points

• Grupo Financiero Galicia experienced a significant surge in options trading, with stock traders purchasing 12,655 put options, marking a 773% increase from the typical volume.
• The company's stock price fell 5.6% to $42.7460, while its 50-day moving average is $50.10 and its 200-day moving average is $55.21.
• Grupo Financiero Galicia has recently cut its dividend to $0.1504, with an ex-dividend date set for August 29th, reflecting a payout ratio of 6.19%.

Grupo Financiero Galicia S.A. (NASDAQ:GGAL - Get Free Report) was the recipient of unusually large options trading activity on Monday. Stock traders purchased 12,655 put options on the stock. Thisrepresentsanincreaseofapproximately773% compared to the typical volume of 1,449 put options.

Grupo Financiero Galicia Stock Down 5.6%

NASDAQ GGAL traded down $2.5240 during mid-day trading on Monday, hitting $42.7460. The company's stock had a trading volume of 1,149,568 shares, compared to its average volume of 1,256,515. The company's 50 day simple moving average is $50.10 and its 200 day simple moving average is $55.21. Grupo Financiero Galicia has a twelve month low of $33.04 and a twelve month high of $74.00. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $6.30 billion, a price-to-earnings ratio of 6.33 and a beta of 1.60.

Grupo Financiero Galicia Cuts Dividend

The firm also recently declared a -- dividend, which will be paid on Friday, September 5th. Investors of record on Friday, August 29th will be given a $0.1504 dividend. The ex-dividend date of this dividend is Friday, August 29th. Grupo Financiero Galicia's dividend payout ratio (DPR) is presently 6.19%.

Institutional Trading of Grupo Financiero Galicia

Hedge funds have recently bought and sold shares of the business. Vontobel Holding Ltd. acquired a new stake in Grupo Financiero Galicia in the 1st quarter valued at $225,000. Whittier Trust Co. purchased a new position in Grupo Financiero Galicia during the 1st quarter worth $675,000. Banco Santander S.A. boosted its holdings in Grupo Financiero Galicia by 578.7% during the 1st quarter. Banco Santander S.A. now owns 33,458 shares of the bank's stock worth $1,822,000 after acquiring an additional 28,528 shares during the last quarter. Bank of America Corp DE boosted its holdings in Grupo Financiero Galicia by 86.4% during the 4th quarter. Bank of America Corp DE now owns 28,861 shares of the bank's stock worth $1,799,000 after acquiring an additional 13,374 shares during the last quarter. Finally, ABS Direct Equity Fund LLC boosted its holdings in Grupo Financiero Galicia by 95.4% during the 1st quarter. ABS Direct Equity Fund LLC now owns 20,791 shares of the bank's stock worth $1,132,000 after acquiring an additional 10,152 shares during the last quarter.

Analyst Upgrades and Downgrades

GGAL has been the subject of several research analyst reports. Wall Street Zen lowered shares of Grupo Financiero Galicia from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Itau BBA Securities initiated coverage on shares of Grupo Financiero Galicia in a research note on Tuesday, May 20th. They issued an "outperform" rating and a $70.00 price objective for the company. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, Grupo Financiero Galicia has an average rating of "Buy" and an average target price of $67.50.

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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