Grupo Financiero Galicia S.A. $GGAL Shares Bought by Deltec Asset Management LLC

Deltec Asset Management LLC grew its position in Grupo Financiero Galicia S.A. (NASDAQ:GGAL) by 183.4% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 19,300 shares of the bank’s stock after purchasing an additional 12,490 shares during the period. Deltec Asset Management LLC’s holdings in Grupo Financiero Galicia were worth $973,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in GGAL. Vontobel Holding Ltd. bought a new position in Grupo Financiero Galicia during the first quarter valued at approximately $225,000. Whittier Trust Co. acquired a new stake in shares of Grupo Financiero Galicia in the 1st quarter valued at $675,000. Banco Santander S.A. lifted its position 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 buying an additional 28,528 shares in the last quarter. Diversified Trust Co acquired a new position in Grupo Financiero Galicia during the 2nd quarter valued at about $413,000. Finally, ABS Direct Equity Fund LLC lifted its position 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 valued at $1,132,000 after purchasing an additional 10,152 shares during the period.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on GGAL shares. HSBC set a $60.00 price target on Grupo Financiero Galicia in a research note on Wednesday. Zacks Research downgraded Grupo Financiero Galicia from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 28th. Wall Street Zen downgraded Grupo Financiero Galicia from a “hold” rating to a “sell” rating in a report on Friday, September 26th. Finally, Citigroup cut Grupo Financiero Galicia from a “buy” rating to a “neutral” rating in a research report on Wednesday, September 10th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $74.00.

Grupo Financiero Galicia Stock Down 6.5%

Shares of NASDAQ:GGAL opened at $27.56 on Wednesday. The company has a market capitalization of $4.06 billion, a PE ratio of 4.06 and a beta of 1.71. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.16 and a quick ratio of 1.16. The business has a fifty day moving average price of $41.21 and a two-hundred day moving average price of $50.63. Grupo Financiero Galicia S.A. has a 1 year low of $25.89 and a 1 year high of $74.00.

Grupo Financiero Galicia Announces Dividend

The company also recently disclosed a special dividend, which will be paid on Tuesday, October 7th. Investors of record on Tuesday, September 30th will be issued 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%.

Grupo Financiero Galicia Profile

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.