StockNews.com Upgrades Grupo Financiero Galicia (NASDAQ:GGAL) to “Buy”

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

Separately, Bank of America upgraded shares of Grupo Financiero Galicia from an underperform rating to a buy rating and lifted their price target for the stock from $28.00 to $36.00 in a research note on Thursday, August 8th.

Grupo Financiero Galicia Trading Up 4.0 %

GGAL opened at $39.17 on Thursday. The company’s 50 day moving average is $30.83 and its 200 day moving average is $29.67. The company has a market cap of $5.78 billion, a price-to-earnings ratio of 6.29 and a beta of 2.03. Grupo Financiero Galicia has a 12-month low of $10.57 and a 12-month high of $41.33.

Grupo Financiero Galicia Increases Dividend

The business also recently disclosed a — dividend, which was paid on Monday, August 26th. Investors of record on Monday, August 19th were paid 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 payout ratio is 39.81%.

Institutional Investors Weigh In On Grupo Financiero Galicia

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Banco Santander S.A. bought a new position in shares of Grupo Financiero Galicia in the second quarter worth approximately $211,000. Virtu Financial LLC lifted its stake in shares of Grupo Financiero Galicia by 78.5% during the 4th quarter. Virtu Financial LLC now owns 37,821 shares of the bank’s stock valued at $653,000 after buying an additional 16,628 shares in the last quarter. Headlands Technologies LLC bought a new position in Grupo Financiero Galicia in the 1st quarter worth $67,000. AdvisorShares Investments LLC purchased a new stake in Grupo Financiero Galicia in the 4th quarter worth $516,000. Finally, Jump Financial LLC raised its holdings in Grupo Financiero Galicia by 8.0% during the fourth quarter. Jump Financial LLC now owns 124,008 shares of the bank’s stock valued at $2,141,000 after acquiring an additional 9,155 shares during the period.

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.