Grupo Financiero Galicia S.A. (NASDAQ:GGAL) Stock Now Rated “Hold” by Wall Street Brokerages

Shares of Grupo Financiero Galicia S.A. (NASDAQ:GGAL) have received a consensus rating of “Hold” from the five analysts that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $65.00.

GGAL has been the topic of a number of research reports. Weiss Ratings lowered shares of Grupo Financiero Galicia from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, August 14th. UBS Group lowered their price objective on Grupo Financiero Galicia from $60.00 to $45.00 and set a “neutral” rating on the stock in a report on Tuesday, October 13th. Finally, Itau BBA Securities cut Grupo Financiero Galicia from an “outperform” rating to a “market perform” rating in a research note on Thursday, September 3rd.

Grupo Financiero Galicia Stock Performance

NASDAQ:GGAL opened at $30.40 on Thursday. The company has a fifty day moving average of $37.99 and a two-hundred day moving average of $45.05. Grupo Financiero Galicia has a fifty-two week low of $29.26 and a fifty-two week high of $58.14.

Grupo Financiero Galicia (NASDAQ:GGAL) last announced its earnings results on Tuesday, August 25th. The bank reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.16. The company had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.70 billion. As a group, sell-side analysts anticipate that Grupo Financiero Galicia will post 3.88 earnings per share for the current year.

Grupo Financiero Galicia Cuts Dividend

The company also recently announced a monthly dividend, which was paid on Monday, October 5th. Investors of record on Monday, September 28th were issued a dividend of $0.0479 per share. This is a negative change from Grupo Financiero Galicia’s previous monthly dividend of $0.0531. The ex-dividend date was Monday, September 28th. This represents a $0.57 dividend on an annualized basis and a yield of 1.9%. Grupo Financiero Galicia’s dividend payout ratio (DPR) is 23.27%.

Institutional Trading of Grupo Financiero Galicia

A number of institutional investors and hedge funds have recently bought and sold shares of GGAL. Carrhae Capital LLP purchased a new position in shares of Grupo Financiero Galicia in the second quarter valued at approximately $68,052,000. Robeco Institutional Asset Management B.V. acquired a new stake in Grupo Financiero Galicia during the 3rd quarter worth approximately $47,235,000. RWC Asset Management LLP boosted its position in Grupo Financiero Galicia by 4.3% in the 3rd quarter. RWC Asset Management LLP now owns 890,348 shares of the bank’s stock valued at $33,157,000 after buying an additional 36,903 shares during the period. RWC Asset Advisors US LLC grew its stake in shares of Grupo Financiero Galicia by 52.2% in the second quarter. RWC Asset Advisors US LLC now owns 517,540 shares of the bank’s stock worth $25,893,000 after acquiring an additional 177,574 shares in the last quarter. Finally, Moerus Capital Management LLC acquired a new position in shares of Grupo Financiero Galicia in the first quarter worth $8,179,000.

About Grupo Financiero Galicia