Grupo Financiero Galicia (NASDAQ:GGAL) Cut to “Sell” at Wall Street Zen

Wall Street Zen downgraded shares of Grupo Financiero Galicia (NASDAQ:GGAL) from a hold rating to a sell rating in a report published on Saturday.

GGAL has been the topic of a number of other research reports. Weiss Ratings restated a “sell (d+)” rating on shares of Grupo Financiero Galicia in a report on Monday, December 29th. HSBC initiated coverage on Grupo Financiero Galicia in a research note on Wednesday, October 1st. They set a “buy” rating and a $60.00 target price on the stock. Zacks Research raised Grupo Financiero Galicia from a “strong sell” rating to a “hold” rating in a research note on Monday, December 29th. The Goldman Sachs Group raised shares of Grupo Financiero Galicia to a “hold” rating in a research report on Monday, November 10th. Finally, Hsbc Global Res upgraded shares of Grupo Financiero Galicia to a “strong-buy” rating in a report on Wednesday, October 1st. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $66.25.

Grupo Financiero Galicia Stock Down 2.5%

Shares of Grupo Financiero Galicia stock opened at $55.06 on Friday. The company’s fifty day simple moving average is $52.76 and its two-hundred day simple moving average is $45.61. Grupo Financiero Galicia has a 12-month low of $25.89 and a 12-month high of $72.51. The firm has a market cap of $8.12 billion, a PE ratio of 27.81 and a beta of 1.47.

Grupo Financiero Galicia Increases Dividend

The firm also recently announced a monthly dividend, which was paid on Monday, January 5th. Stockholders of record on Monday, December 29th were given a $0.1423 dividend. The ex-dividend date of this dividend was Monday, December 29th. This represents a c) dividend on an annualized basis and a dividend yield of 3.1%. This is a boost from Grupo Financiero Galicia’s previous monthly dividend of $0.14. Grupo Financiero Galicia’s payout ratio is currently 86.36%.

Institutional Investors Weigh In On Grupo Financiero Galicia

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Hantz Financial Services Inc. increased its stake in shares of Grupo Financiero Galicia by 131.6% during the third quarter. Hantz Financial Services Inc. now owns 938 shares of the bank’s stock valued at $26,000 after purchasing an additional 533 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its position in Grupo Financiero Galicia by 4,942.9% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 2,118 shares of the bank’s stock valued at $58,000 after buying an additional 2,076 shares in the last quarter. SBI Securities Co. Ltd. raised its stake in Grupo Financiero Galicia by 240.5% during the second quarter. SBI Securities Co. Ltd. now owns 1,202 shares of the bank’s stock valued at $61,000 after buying an additional 849 shares during the last quarter. Acuitas Investments LLC purchased a new position in Grupo Financiero Galicia during the third quarter valued at $110,000. Finally, Raymond James Financial Inc. bought a new stake in Grupo Financiero Galicia in the second quarter worth $151,000.

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.