Grupo Financiero Galicia (NASDAQ:GGAL) Shares Gap Up – Should You Buy?

Shares of Grupo Financiero Galicia S.A. (NASDAQ:GGAL) gapped up before the market opened on Monday . The stock had previously closed at $59.13, but opened at $62.52. Grupo Financiero Galicia shares last traded at $59.4930, with a volume of 861,180 shares trading hands.

Analyst Upgrades and Downgrades

GGAL has been the topic of a number of recent research reports. Weiss Ratings restated a “hold (c)” rating on shares of Grupo Financiero Galicia in a research note on Wednesday, October 8th. JPMorgan Chase & Co. upgraded shares of Grupo Financiero Galicia from a “neutral” rating to an “overweight” rating and upped their price target for the company from $46.00 to $75.00 in a research note on Tuesday, October 28th. Citigroup upgraded shares of Grupo Financiero Galicia from a “neutral” rating to a “buy” rating in a research note on Monday. Wall Street Zen cut shares of Grupo Financiero Galicia from a “hold” rating to a “sell” rating in a research note on Friday, September 26th. Finally, Zacks Research cut shares of Grupo Financiero Galicia from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 28th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $74.25.

Grupo Financiero Galicia Stock Performance

The company’s fifty day simple moving average is $34.97 and its 200 day simple moving average is $47.64. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $8.96 billion, a P/E ratio of 32.04 and a beta of 1.54.

Grupo Financiero Galicia Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, November 10th. Shareholders of record on Monday, November 3rd will be issued a $0.1349 dividend. This represents a c) annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Monday, November 3rd. Grupo Financiero Galicia’s dividend payout ratio (DPR) is presently 84.74%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Blume Capital Management Inc. bought a new position in Grupo Financiero Galicia in the 1st quarter valued at $55,000. Advisors Preferred LLC lifted its holdings in shares of Grupo Financiero Galicia by 272.2% during the 1st quarter. Advisors Preferred LLC now owns 1,098 shares of the bank’s stock worth $61,000 after acquiring an additional 803 shares during the last quarter. SBI Securities Co. Ltd. lifted its holdings in shares of Grupo Financiero Galicia by 240.5% during the 2nd quarter. SBI Securities Co. Ltd. now owns 1,202 shares of the bank’s stock worth $61,000 after acquiring an additional 849 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Grupo Financiero Galicia during the 2nd quarter worth $151,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Grupo Financiero Galicia by 11.2% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,022 shares of the bank’s stock worth $165,000 after acquiring an additional 304 shares during the last quarter.

About Grupo Financiero Galicia

Grupo Financiero Galicia SA, a financial service holding company, provides various financial products and services to individuals and companies in Argentina. The company operates through Banks, NaranjaX, Insurance, and Other Businesses segments. It also offers personal loans; express and mortgage loans; pledge and credit card loans; credit and debit cards; and online banking services, as well as savings, deposits, and checking accounts related services.