Grupo Financiero Galicia (NASDAQ:GGAL) Rating Increased to Hold at Zacks Research

Zacks Research upgraded shares of Grupo Financiero Galicia (NASDAQ:GGAL) from a strong sell rating to a hold rating in a report issued on Monday morning,Zacks.com reports.

Several other brokerages also recently commented on GGAL. HSBC started coverage on Grupo Financiero Galicia in a report on Wednesday, October 1st. They issued a “buy” rating and a $60.00 target price on the stock. Hsbc Global Res upgraded Grupo Financiero Galicia to a “strong-buy” rating in a research note on Wednesday, October 1st. Citigroup raised shares of Grupo Financiero Galicia from a “neutral” rating to a “buy” rating in a report on Monday, November 3rd. Wall Street Zen raised shares of Grupo Financiero Galicia from a “sell” rating to a “hold” rating in a research note on Saturday, December 13th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Grupo Financiero Galicia in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $66.25.

Grupo Financiero Galicia Stock Down 1.2%

Shares of NASDAQ:GGAL opened at $54.06 on Monday. The company has a market capitalization of $7.97 billion, a PE ratio of 27.30 and a beta of 1.45. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.16. The company’s fifty day moving average is $51.59 and its 200-day moving average is $45.49. Grupo Financiero Galicia has a 52 week low of $25.89 and a 52 week high of $74.00.

Grupo Financiero Galicia Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, January 5th. Investors of record on Monday, December 29th will be given a dividend of $0.1423 per share. This is a boost from Grupo Financiero Galicia’s previous monthly dividend of $0.14. This represents a c) annualized dividend and a yield of 3.2%. The ex-dividend date is Monday, December 29th. Grupo Financiero Galicia’s dividend payout ratio (DPR) is 86.36%.

Institutional Investors Weigh In On Grupo Financiero Galicia

Several hedge funds have recently modified their holdings of the company. Cetera Investment Advisers raised its holdings in Grupo Financiero Galicia by 1.9% in the 2nd quarter. Cetera Investment Advisers now owns 11,824 shares of the bank’s stock worth $596,000 after purchasing an additional 226 shares during the period. Geode Capital Management LLC raised its stake in shares of Grupo Financiero Galicia by 0.7% during the 2nd quarter. Geode Capital Management LLC now owns 54,525 shares of the bank’s stock worth $2,748,000 after buying an additional 362 shares during the period. Rokos Capital Management LLP grew its stake in Grupo Financiero Galicia by 0.4% in the 2nd quarter. Rokos Capital Management LLP now owns 110,167 shares of the bank’s stock valued at $5,549,000 after acquiring an additional 408 shares during the period. Hantz Financial Services Inc. grew its stake in Grupo Financiero Galicia by 131.6% in the 3rd quarter. Hantz Financial Services Inc. now owns 938 shares of the bank’s stock valued at $26,000 after acquiring an additional 533 shares during the period. Finally, Activest Wealth Management increased its holdings in Grupo Financiero Galicia by 1.8% in the 2nd quarter. Activest Wealth Management now owns 33,728 shares of the bank’s stock worth $1,700,000 after acquiring an additional 581 shares in the last quarter.

About Grupo Financiero Galicia

Grupo Financiero Galicia is a diversified financial services holding company headquartered in Buenos Aires, Argentina. As one of the country’s largest private-sector financial institutions, the company provides a comprehensive suite of banking, insurance and investment products to individual, small-to-medium enterprise (SME) and corporate clients. Its operations span retail and commercial banking, asset management, leasing, factoring and pension fund administration.

The core banking segment offers deposit and lending services, credit and debit cards, payment solutions and digital banking platforms.