Grupo Financiero Galicia (NASDAQ:GGAL) Sets New 52-Week Low – Should You Sell?

Grupo Financiero Galicia S.A. (NASDAQ:GGAL)’s share price hit a new 52-week low during trading on Monday. The stock traded as low as $29.26 and last traded at $29.4650, with a volume of 126,829 shares. The stock had previously closed at $29.44.

Analysts Set New Price Targets

Several research analysts recently issued reports on GGAL shares. Itau BBA Securities cut Grupo Financiero Galicia from an “outperform” rating to a “market perform” rating in a research report on Thursday, September 3rd. UBS Group lowered their price target on Grupo Financiero Galicia from $60.00 to $45.00 and set a “neutral” rating for the company in a research report on Tuesday, October 13th. Finally, 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. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $65.00.

Grupo Financiero Galicia Stock Performance

The company’s 50 day simple moving average is $37.71 and its 200 day simple moving average is $44.93. The stock has a market cap of $4.76 billion, a PE ratio of 12.03, a price-to-earnings-growth ratio of 0.16 and a beta of 1.35.

Grupo Financiero Galicia (NASDAQ:GGAL) last announced its earnings results on Tuesday, August 25th. The bank reported $1.14 earnings per share for the quarter, topping 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. Equities research analysts expect that Grupo Financiero Galicia S.A. will post 3.88 earnings per share for the current year.

Grupo Financiero Galicia Cuts Dividend

The firm also recently disclosed a monthly dividend, which was paid on Monday, October 5th. Shareholders of record on Monday, September 28th were given a $0.0479 dividend. This is a decrease from Grupo Financiero Galicia’s previous monthly dividend of $0.0531. This represents a $0.57 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Monday, September 28th. Grupo Financiero Galicia’s payout ratio is presently 23.27%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Rockefeller Capital Management L.P. bought a new stake in shares of Grupo Financiero Galicia during the 4th quarter worth $39,000. Global Retirement Partners LLC grew its position in Grupo Financiero Galicia by 4,445.9% during the third quarter. Global Retirement Partners LLC now owns 1,682 shares of the bank’s stock valued at $63,000 after buying an additional 1,645 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Grupo Financiero Galicia during the third quarter worth about $68,000. Quantitative Investment Management LLC purchased a new stake in Grupo Financiero Galicia during the second quarter worth about $490,000. Finally, Stelac Advisory Services LLC bought a new stake in Grupo Financiero Galicia in the third quarter worth about $455,000.

Grupo Financiero Galicia Company Profile

Grupo Financiero Galicia is an Argentine financial services holding company with roots in Banco de Galicia y Buenos Aires, founded in 1905. The group operates primarily in Argentina through businesses serving individuals, companies and institutions. Its services include retail and commercial banking, lending, payments, insurance, investment and asset-management products, and brokerage services. The group also offers digital financial services, including through its Naranja X platform. Grupo Financiero Galicia’s operations are focused on the Argentine market, where it serves customers through a combination of physical branches and digital channels.