Grupo Financiero Galicia (NASDAQ:GGAL) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Grupo Financiero Galicia (NASDAQ:GGAL) from a sell rating to a hold rating in a research note issued to investors on Sunday morning.

Several other research analysts also recently commented on GGAL. JPMorgan Chase & Co. raised Grupo Financiero Galicia from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $46.00 to $75.00 in a report on Tuesday, October 28th. UBS Group initiated coverage on shares of Grupo Financiero Galicia in a research note on Wednesday, November 19th. They issued a “hold” rating and a $60.00 target price for the company. Hsbc Global Res raised shares of Grupo Financiero Galicia to a “strong-buy” rating in a research report on Wednesday, October 1st. The Goldman Sachs Group raised shares of Grupo Financiero Galicia to a “hold” rating in a research report on Monday, November 10th. Finally, Citigroup raised shares of Grupo Financiero Galicia from a “neutral” rating to a “buy” rating in a report on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, four have given 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 an average price target of $66.25.

Grupo Financiero Galicia Price Performance

Shares of NASDAQ:GGAL opened at $51.39 on Friday. Grupo Financiero Galicia has a one year low of $25.89 and a one year high of $71.50. The firm has a 50 day simple moving average of $52.27 and a 200 day simple moving average of $45.64. The company has a market cap of $7.58 billion, a price-to-earnings ratio of 25.95 and a beta of 1.47.

Grupo Financiero Galicia Increases Dividend

The business also recently announced a monthly dividend, which was paid on Monday, January 5th. Shareholders of record on Monday, December 29th were paid a dividend of $0.1423 per share. The ex-dividend date was Monday, December 29th. This represents a c) dividend on an annualized basis and a yield of 3.3%. This is a boost from Grupo Financiero Galicia’s previous monthly dividend of $0.14. Grupo Financiero Galicia’s dividend payout ratio (DPR) is presently 86.36%.

Institutional Trading of Grupo Financiero Galicia

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

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.