Grupo Financiero Galicia S.A. (GGAL) Downgraded to “Hold” at Zacks Investment Research
Grupo Financiero Galicia S.A. (NASDAQ:GGAL) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report released on Monday.
According to Zacks, “Grupo Financiero Galicia SA. is involved in the Financial Services Industry. Their principal activity is to continue to be a financial and investment services holding company and to fulfill the banking services activities of Banco Galicia. “
Grupo Financiero Galicia (NASDAQ:GGAL) traded down 1.38% during midday trading on Monday, reaching $42.23. 307,157 shares of the company traded hands. The stock has a market capitalization of $5.49 billion, a P/E ratio of 14.13 and a beta of 1.43. Grupo Financiero Galicia has a one year low of $23.23 and a one year high of $43.92. The company has a 50 day moving average price of $40.54 and a 200-day moving average price of $33.49.
The firm also recently announced a dividend, which was paid on Friday, May 12th. Shareholders of record on Friday, May 12th were given a dividend of $0.121 per share. This is an increase from Grupo Financiero Galicia’s previous dividend of $0.07. The ex-dividend date was Wednesday, May 10th. Grupo Financiero Galicia’s dividend payout ratio (DPR) is 0.86%.
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A number of hedge funds and other institutional investors have recently bought and sold shares of GGAL. Rit Capital Partners PLC acquired a new position in Grupo Financiero Galicia during the third quarter worth approximately $3,321,000. Itau Unibanco Holding S.A. acquired a new position in Grupo Financiero Galicia during the third quarter worth approximately $670,000. Russell Investments Group Ltd. acquired a new position in Grupo Financiero Galicia during the fourth quarter worth approximately $6,255,000. Strycker View Capital LLC acquired a new position in Grupo Financiero Galicia during the fourth quarter worth approximately $2,105,000. Finally, Comerica Bank increased its position in Grupo Financiero Galicia by 0.4% in the fourth quarter. Comerica Bank now owns 183,228 shares of the bank’s stock worth $5,781,000 after buying an additional 644 shares during the period. 17.70% of the stock is currently owned by institutional investors and hedge funds.
Grupo Financiero Galicia Company Profile
Grupo Financiero Galicia SA (Grupo Financiero Galicia) is a financial services holding company. The Company’s segments include Banking, Regional Credit Cards, CFA, Insurance and Other Grupo Galicia Businesses. Banco de Galicia y Buenos Aires SA (Banco Galicia) is a subsidiary of the Company. Its banking business segment represents Banco Galicia consolidated line by line with Banco Galicia Uruguay SA (Galicia Uruguay).
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