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

StockNews.com downgraded shares of Grupo Financiero Galicia (NASDAQ:GGAL) from a buy rating to a hold rating in a research note issued to investors on Monday.

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

Grupo Financiero Galicia Stock Down 2.4 %

Grupo Financiero Galicia stock opened at $52.26 on Monday. The firm’s 50-day simple moving average is $44.19 and its 200 day simple moving average is $36.10. Grupo Financiero Galicia has a 52 week low of $10.76 and a 52 week high of $55.61. The firm has a market capitalization of $7.71 billion, a PE ratio of 7.37 and a beta of 1.93.

Grupo Financiero Galicia Increases Dividend

The firm also recently declared a — dividend, which was paid on Monday, August 26th. Shareholders of record on Monday, August 19th were paid a $0.7248 dividend. This is a positive change from Grupo Financiero Galicia’s previous — dividend of $0.14. The ex-dividend date of this dividend was Monday, August 19th. Grupo Financiero Galicia’s dividend payout ratio (DPR) is presently 33.29%.

Institutional Investors Weigh In On Grupo Financiero Galicia

Hedge funds have recently modified their holdings of the stock. Banco Santander S.A. purchased a new stake in shares of Grupo Financiero Galicia during the 2nd quarter valued at $211,000. William Blair Investment Management LLC purchased a new stake in Grupo Financiero Galicia during the second quarter valued at about $8,573,000. Headlands Technologies LLC acquired a new stake in Grupo Financiero Galicia during the first quarter worth about $67,000. Turim 21 Investimentos Ltda. purchased a new position in shares of Grupo Financiero Galicia in the 2nd quarter worth about $453,000. Finally, B. Riley Wealth Advisors Inc. acquired a new position in shares of Grupo Financiero Galicia in the 2nd quarter valued at about $582,000.

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.