Wall Street Zen Downgrades Grupo Financiero Galicia (NASDAQ:GGAL) to Sell

Wall Street Zen lowered shares of Grupo Financiero Galicia (NASDAQ:GGAL) from a hold rating to a sell rating in a report published on Saturday morning.

GGAL has been the subject of several other reports. Zacks Research downgraded Grupo Financiero Galicia from a “hold” rating to a “strong sell” rating in a report on Thursday, August 28th. Itau BBA Securities started coverage on Grupo Financiero Galicia in a report on Tuesday, May 20th. They set an “outperform” rating and a $70.00 price target for the company. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Grupo Financiero Galicia has an average rating of “Hold” and a consensus target price of $81.00.

Grupo Financiero Galicia Price Performance

Shares of NASDAQ GGAL opened at $30.65 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.16 and a quick ratio of 1.16. The stock has a fifty day moving average price of $47.15 and a 200 day moving average price of $53.61. Grupo Financiero Galicia has a 1-year low of $29.23 and a 1-year high of $74.00. The company has a market cap of $4.52 billion, a PE ratio of 4.51 and a beta of 1.71.

Grupo Financiero Galicia Cuts Dividend

The firm also recently announced a special dividend, which was paid on Friday, September 5th. Shareholders of record on Friday, August 29th were issued a $0.1504 dividend. The ex-dividend date of this dividend was Friday, August 29th. Grupo Financiero Galicia’s dividend payout ratio (DPR) is 8.39%.

Institutional Investors Weigh In On Grupo Financiero Galicia

Hedge funds and other institutional investors have recently bought and sold shares of the business. Cetera Investment Advisers increased 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 valued at $596,000 after buying an additional 226 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Grupo Financiero Galicia by 11.2% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,022 shares of the bank’s stock valued at $165,000 after buying an additional 304 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Grupo Financiero Galicia by 0.7% in the second quarter. Geode Capital Management LLC now owns 54,525 shares of the bank’s stock valued at $2,748,000 after buying an additional 362 shares in the last quarter. Rokos Capital Management LLP increased its position in shares of Grupo Financiero Galicia by 0.4% in the second quarter. Rokos Capital Management LLP now owns 110,167 shares of the bank’s stock valued at $5,549,000 after buying an additional 408 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Grupo Financiero Galicia by 1.6% in the first quarter. Bank of New York Mellon Corp now owns 30,890 shares of the bank’s stock valued at $1,683,000 after buying an additional 483 shares in 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.