Grupo Financiero Galicia (NASDAQ:GGAL) Downgraded by Wall Street Zen to “Sell”

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

Several other analysts also recently issued reports on the stock. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Grupo Financiero Galicia in a report on Monday, December 29th. Citigroup upgraded Grupo Financiero Galicia from a “neutral” rating to a “buy” rating in a research report on Monday, November 3rd. The Goldman Sachs Group upgraded Grupo Financiero Galicia to a “hold” rating in a report on Monday, November 10th. Hsbc Global Res raised Grupo Financiero Galicia to a “strong-buy” rating in a research report on Wednesday, October 1st. Finally, JPMorgan Chase & Co. upgraded Grupo Financiero Galicia from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $46.00 to $75.00 in a research report on Tuesday, October 28th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $66.25.

Grupo Financiero Galicia Stock Up 0.2%

NASDAQ:GGAL opened at $56.46 on Friday. Grupo Financiero Galicia has a 52-week low of $25.89 and a 52-week high of $73.25. The stock has a fifty day simple moving average of $52.87 and a 200-day simple moving average of $45.63. The company has a market capitalization of $8.33 billion, a PE ratio of 28.52 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. Investors of record on Monday, December 29th were given a dividend of $0.1423 per share. This represents a c) annualized dividend and a yield of 3.0%. This is a boost from Grupo Financiero Galicia’s previous monthly dividend of $0.14. The ex-dividend date was Monday, December 29th. Grupo Financiero Galicia’s dividend payout ratio (DPR) is currently 86.36%.

Institutional Trading of Grupo Financiero Galicia

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Seven Grand Managers LLC acquired a new position in Grupo Financiero Galicia during the second quarter worth approximately $10,078,000. AGF Management Ltd. purchased a new stake in shares of Grupo Financiero Galicia during the 2nd quarter valued at $12,662,000. Soros Fund Management LLC acquired a new stake in shares of Grupo Financiero Galicia during the 2nd quarter worth $11,502,000. ABS Direct Equity Fund LLC raised its position in shares of Grupo Financiero Galicia by 70.1% in the 3rd quarter. ABS Direct Equity Fund LLC now owns 47,030 shares of the bank’s stock worth $1,296,000 after buying an additional 19,382 shares during the period. Finally, Insigneo Advisory Services LLC raised its position in shares of Grupo Financiero Galicia by 112.9% in the 2nd quarter. Insigneo Advisory Services LLC now owns 40,648 shares of the bank’s stock worth $2,048,000 after buying an additional 21,552 shares during the period.

Grupo Financiero Galicia Company Profile

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.