Grupo Financiero Galicia S.A. $GGAL Shares Newly Bought by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. acquired a new stake in shares of Grupo Financiero Galicia S.A. (NASDAQ:GGAL) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 1,268,406 shares of the bank’s stock, valued at approximately $47,235,000.

A number of other hedge funds also recently made changes to their positions in the stock. Rockefeller Capital Management L.P. purchased a new stake in Grupo Financiero Galicia in the 4th quarter worth approximately $39,000. Leonteq Securities AG raised its stake in Grupo Financiero Galicia by 563.2% during the 1st quarter. Leonteq Securities AG now owns 2,036 shares of the bank’s stock worth $95,000 after acquiring an additional 1,729 shares during the period. Quantitative Investment Management LLC purchased a new position in Grupo Financiero Galicia during the second quarter valued at approximately $490,000. Patriot Financial Group Insurance Agency LLC purchased a new position in Grupo Financiero Galicia during the first quarter valued at approximately $560,000. Finally, Deltec Asset Management LLC lifted its holdings in Grupo Financiero Galicia by 1.6% during the first quarter. Deltec Asset Management LLC now owns 25,900 shares of the bank’s stock valued at $1,210,000 after purchasing an additional 400 shares in the last quarter.

Grupo Financiero Galicia Stock Performance

Grupo Financiero Galicia stock opened at $36.12 on Friday. Grupo Financiero Galicia S.A. has a twelve month low of $33.01 and a twelve month high of $62.51. The business has a fifty day moving average of $40.43 and a two-hundred day moving average of $45.44.

Grupo Financiero Galicia (NASDAQ:GGAL) last released its quarterly earnings results on Tuesday, August 25th. The bank reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.16. The business had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.70 billion. On average, equities analysts forecast that Grupo Financiero Galicia S.A. will post 3.88 EPS for the current fiscal year.

Grupo Financiero Galicia Cuts Dividend

The business also recently announced a monthly dividend, which was paid on Monday, October 5th. Shareholders of record on Monday, September 28th were paid a $0.0479 dividend. This is a drop from Grupo Financiero Galicia’s previous monthly dividend of $0.0531. The ex-dividend date of this dividend was Monday, September 28th. This represents a $0.57 dividend on an annualized basis and a dividend yield of 1.6%. Grupo Financiero Galicia’s dividend payout ratio is 23.27%.

Analysts Set New Price Targets

GGAL has been the subject of a number of analyst reports. UBS Group reduced their price objective on shares of Grupo Financiero Galicia from $60.00 to $45.00 and set a “neutral” rating for the company in a research note on Tuesday, October 13th. Weiss Ratings downgraded shares of Grupo Financiero Galicia from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, August 14th. Itau BBA Securities cut shares of Grupo Financiero Galicia from an “outperform” rating to a “market perform” rating in a research note on Thursday, September 3rd. JPMorgan Chase & Co. lifted their target price on shares of Grupo Financiero Galicia from $72.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, June 25th. Finally, Wall Street Zen upgraded shares of Grupo Financiero Galicia from a “sell” rating to a “hold” rating in a research report on Saturday, June 27th. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $65.00.

Grupo Financiero Galicia Profile

Grupo Financiero Galicia SA is an Argentine financial services holding company whose principal business is conducted through Banco de Galicia y Buenos Aires SAU., commonly known as Galicia. The group serves individuals, businesses, agricultural customers and public-sector entities across Argentina.

Through its banking operations, Galicia offers deposit accounts, consumer and commercial loans, credit and debit cards, payment services, cash management, foreign trade financing, investment products and digital banking services.