Grupo Financiero Galicia (NASDAQ:GGAL) Downgraded to Hold Rating by StockNews.com

StockNews.com lowered shares of Grupo Financiero Galicia (NASDAQ:GGAL) from a buy rating to a hold rating in a research report released on Monday morning.

GGAL has been the topic of a number of other research reports. Bank of America upgraded shares of Grupo Financiero Galicia from an “underperform” rating to a “buy” rating and increased their target price for the stock from $28.00 to $36.00 in a research report on Thursday, August 8th. JPMorgan Chase & Co. raised Grupo Financiero Galicia from an “underweight” rating to an “overweight” rating and set a $54.00 price target on the stock in a research report on Friday, August 30th. Finally, Citigroup raised Grupo Financiero Galicia from a “neutral” rating to a “buy” rating and set a $54.00 price objective for the company in a report on Wednesday, September 4th.

Grupo Financiero Galicia Stock Performance

Shares of Grupo Financiero Galicia stock opened at $52.72 on Monday. The firm has a 50-day moving average of $44.55 and a 200-day moving average of $36.21. Grupo Financiero Galicia has a 52-week low of $10.76 and a 52-week high of $55.61. The stock has a market cap of $7.77 billion, a PE ratio of 7.44 and a beta of 1.93.

Grupo Financiero Galicia Increases Dividend

The company also recently declared a — dividend, which was paid on Monday, August 26th. Stockholders of record on Monday, August 19th were issued a dividend of $0.7248 per share. The ex-dividend date of this dividend was Monday, August 19th. This is an increase from Grupo Financiero Galicia’s previous — dividend of $0.14. Grupo Financiero Galicia’s dividend payout ratio is 33.29%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Beverly Hills Private Wealth LLC grew its position in Grupo Financiero Galicia by 5.2% in the second quarter. Beverly Hills Private Wealth LLC now owns 9,212 shares of the bank’s stock valued at $282,000 after acquiring an additional 452 shares during the last quarter. Diversify Wealth Management LLC boosted its stake in shares of Grupo Financiero Galicia by 4.5% in the 3rd quarter. Diversify Wealth Management LLC now owns 27,819 shares of the bank’s stock valued at $1,171,000 after purchasing an additional 1,202 shares in the last quarter. Blue Trust Inc. bought a new stake in shares of Grupo Financiero Galicia during the 2nd quarter valued at approximately $40,000. Ashton Thomas Private Wealth LLC acquired a new position in Grupo Financiero Galicia during the 2nd quarter worth approximately $51,000. Finally, Headlands Technologies LLC acquired a new position in Grupo Financiero Galicia during the 1st quarter worth approximately $67,000.

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.