Grupo Financiero Galicia S.A. (NASDAQ:GGAL – Get Free Report) was up 4.3% during mid-day trading on Monday . The stock traded as high as $44.10 and last traded at $44.06. Approximately 333,896 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 1,143,210 shares. The stock had previously closed at $42.24.
Wall Street Analyst Weigh In
A number of brokerages have recently commented on GGAL. JPMorgan Chase & Co. upped their price objective on shares of Grupo Financiero Galicia from $72.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, June 25th. Zacks Research raised Grupo Financiero Galicia from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 14th. Wall Street Zen upgraded Grupo Financiero Galicia from a “sell” rating to a “hold” rating in a research note on Saturday, June 27th. Finally, Weiss Ratings lowered Grupo Financiero Galicia from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, August 14th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Grupo Financiero Galicia has an average rating of “Hold” and a consensus price target of $68.33.
Get Our Latest Research Report on Grupo Financiero Galicia
Grupo Financiero Galicia Stock Up 4.5%
Grupo Financiero Galicia (NASDAQ:GGAL – Get Free Report) last announced its quarterly earnings results on Tuesday, August 25th. The bank reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.16. The business had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.70 billion. Analysts predict that Grupo Financiero Galicia S.A. will post 3.94 EPS for the current fiscal year.
Grupo Financiero Galicia Announces Dividend
The firm also recently announced a monthly dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 24th will be given a dividend of $0.0531 per share. This represents a c) annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Monday, August 24th. Grupo Financiero Galicia’s payout ratio is 43.51%.
Insider Buying and Selling at Grupo Financiero Galicia
In other Grupo Financiero Galicia news, Director Silvestre Vila Moret bought 224,000 shares of the stock in a transaction that occurred on Wednesday, July 8th. The shares were acquired at an average price of $5.36 per share, with a total value of $1,200,640.00. Following the completion of the purchase, the director directly owned 3,000,000 shares in the company, valued at $16,080,000. The trade was a 8.07% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last quarter, insiders have bought 802,791 shares of company stock worth $4,253,109.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Rockefeller Capital Management L.P. bought a new stake in shares of Grupo Financiero Galicia in the 4th quarter valued at approximately $39,000. Caitong International Asset Management Co. Ltd lifted its position in shares of Grupo Financiero Galicia by 4,942.9% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 2,118 shares of the bank’s stock worth $58,000 after buying an additional 2,076 shares during the period. State of Wyoming bought a new position in shares of Grupo Financiero Galicia during the 4th quarter worth approximately $74,000. Leonteq Securities AG boosted its stake in Grupo Financiero Galicia by 563.2% in the 1st quarter. Leonteq Securities AG now owns 2,036 shares of the bank’s stock valued at $95,000 after buying an additional 1,729 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Grupo Financiero Galicia in the 2nd quarter valued at $151,000.
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.
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