Grupo Financiero Galicia (NASDAQ:GGAL) Reaches New 1-Year Low – Here’s Why

Grupo Financiero Galicia S.A. (NASDAQ:GGAL – Get Free Report)’s share price reached a new 52-week low during trading on Monday. The company 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.

Analyst Ratings Changes

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

Check Out Our Latest Report on GGAL

Grupo Financiero Galicia Trading Up 0.9%

The firm’s fifty day moving average price is $38.23 and its 200 day moving average price is $45.17. The firm has a market capitalization of $4.77 billion, a PE ratio of 12.14, a PEG ratio of 0.16 and a beta of 1.35.

Grupo Financiero Galicia (NASDAQ:GGAL – Get Free Report) last released its quarterly earnings data on Tuesday, August 25th. The bank reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.16. The firm had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.70 billion. As a group, research analysts expect that Grupo Financiero Galicia S.A. will post 3.88 EPS for the current 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 given a dividend of $0.0479 per share. The ex-dividend date of this dividend was Monday, September 28th. This is a drop from Grupo Financiero Galicia’s previous monthly dividend of $0.0531. This represents a $0.57 annualized dividend and a yield of 1.9%. Grupo Financiero Galicia’s payout ratio is 23.27%.

Institutional Trading of Grupo Financiero Galicia

Several large investors have recently added to or reduced their stakes in GGAL. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Grupo Financiero Galicia in the 3rd quarter valued at approximately $68,000. RWC Asset Management LLP raised its position in shares of Grupo Financiero Galicia by 4.3% in the third quarter. RWC Asset Management LLP now owns 890,348 shares of the bank’s stock valued at $33,157,000 after purchasing an additional 36,903 shares during the period. Robeco Institutional Asset Management B.V. bought a new position in shares of Grupo Financiero Galicia in the third quarter valued at approximately $47,235,000. ABS Direct Equity Fund LLC bought a new position in shares of Grupo Financiero Galicia in the second quarter valued at approximately $3,394,000. Finally, Carrhae Capital LLP acquired a new stake in shares of Grupo Financiero Galicia in the second quarter worth $68,052,000.

About Grupo Financiero Galicia

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