Grupo Financiero Galicia (NASDAQ:GGAL) Reaches New 12-Month Low – Here’s What Happened

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

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Weiss Ratings downgraded shares of Grupo Financiero Galicia from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, August 14th. UBS Group lowered their price target on Grupo Financiero Galicia from $60.00 to $45.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 13th. Finally, Itau BBA Securities lowered Grupo Financiero Galicia from an “outperform” rating to a “market perform” rating in a report on Thursday, September 3rd. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Grupo Financiero Galicia currently has an average rating of “Hold” and a consensus price target of $65.00.

Grupo Financiero Galicia Stock Performance

The firm’s 50-day simple moving average is $38.23 and its two-hundred day simple moving average is $45.17. The stock has a market cap of $4.77 billion, a price-to-earnings ratio of 12.14, a PEG ratio of 0.16 and a beta of 1.35.

Grupo Financiero Galicia (NASDAQ:GGAL) last released 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 firm had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.70 billion. Equities research analysts expect that Grupo Financiero Galicia S.A. will post 3.88 earnings per share for the current fiscal year.

Grupo Financiero Galicia Cuts Dividend

The firm also recently disclosed a monthly dividend, which was paid on Monday, October 5th. Investors of record on Monday, September 28th were issued 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 was Monday, September 28th. Grupo Financiero Galicia’s dividend payout ratio (DPR) is currently 23.27%.

Institutional Investors Weigh In On Grupo Financiero Galicia

A number of institutional investors have recently made changes to their positions in the stock. Rockefeller Capital Management L.P. acquired a new position in Grupo Financiero Galicia in the fourth quarter valued at about $39,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Grupo Financiero Galicia during the 3rd quarter worth about $68,000. Quantitative Investment Management LLC bought a new stake in shares of Grupo Financiero Galicia in the 2nd quarter valued at about $490,000. Bank of New York Mellon Corp increased its stake in shares of Grupo Financiero Galicia by 2.2% in the 1st quarter. Bank of New York Mellon Corp now owns 32,382 shares of the bank’s stock valued at $1,513,000 after acquiring an additional 686 shares during the last quarter. Finally, Turim 21 Investimentos Ltda. raised its position in shares of Grupo Financiero Galicia by 74.4% in the 1st quarter. Turim 21 Investimentos Ltda. now owns 41,586 shares of the bank’s stock valued at $1,942,000 after acquiring an additional 17,746 shares during the period.

Grupo Financiero Galicia Company Profile