Grupo Financiero Galicia S.A. $GGAL Shares Purchased by Banco Santander S.A.

Banco Santander S.A. raised its holdings in Grupo Financiero Galicia S.A. (NASDAQ:GGAL) by 215.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 119,514 shares of the bank’s stock after buying an additional 81,670 shares during the quarter. Banco Santander S.A.’s holdings in Grupo Financiero Galicia were worth $3,294,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Grupo Financiero Galicia by 52.2% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,937,465 shares of the bank’s stock valued at $97,629,000 after purchasing an additional 664,533 shares during the period. RWC Asset Advisors US LLC boosted its holdings in shares of Grupo Financiero Galicia by 848.1% in the 3rd quarter. RWC Asset Advisors US LLC now owns 1,540,187 shares of the bank’s stock valued at $42,448,000 after purchasing an additional 1,377,735 shares during the last quarter. INCA Investments LLC grew its stake in shares of Grupo Financiero Galicia by 1.0% during the 3rd quarter. INCA Investments LLC now owns 1,080,161 shares of the bank’s stock valued at $29,769,000 after buying an additional 10,283 shares during the period. Itau Unibanco Holding S.A. grew its stake in shares of Grupo Financiero Galicia by 90.5% during the 2nd quarter. Itau Unibanco Holding S.A. now owns 893,965 shares of the bank’s stock valued at $45,047,000 after buying an additional 424,693 shares during the period. Finally, RWC Asset Management LLP increased its holdings in shares of Grupo Financiero Galicia by 240.3% during the 3rd quarter. RWC Asset Management LLP now owns 826,175 shares of the bank’s stock worth $22,769,000 after buying an additional 583,403 shares during the last quarter.

Analysts Set New Price Targets

A number of brokerages recently weighed in on GGAL. Zacks Research cut Grupo Financiero Galicia from a “hold” rating to a “strong sell” rating in a report on Monday, February 9th. UBS Group initiated coverage on Grupo Financiero Galicia in a report on Wednesday, November 19th. They set a “hold” rating and a $60.00 target price for the company. Citigroup raised shares of Grupo Financiero Galicia from a “neutral” rating to a “buy” rating in a research report on Monday, November 3rd. JPMorgan Chase & Co. reduced their price target on shares of Grupo Financiero Galicia from $75.00 to $72.00 and set an “overweight” rating on the stock in a research report on Thursday, February 19th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Grupo Financiero Galicia in a research note on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $65.50.

Grupo Financiero Galicia Stock Performance

Shares of NASDAQ:GGAL opened at $44.85 on Friday. The business’s 50-day simple moving average is $51.85 and its 200 day simple moving average is $45.85. The company has a market cap of $6.61 billion, a P/E ratio of 22.65 and a beta of 1.44. Grupo Financiero Galicia S.A. has a one year low of $25.89 and a one year high of $66.24.

Grupo Financiero Galicia Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, March 9th. Stockholders of record on Monday, March 2nd will be given a dividend of $0.1541 per share. The ex-dividend date of this dividend is Monday, March 2nd. This is an increase from Grupo Financiero Galicia’s previous monthly dividend of $0.15. This represents a c) dividend on an annualized basis and a dividend yield of 4.1%. Grupo Financiero Galicia’s dividend payout ratio is presently 88.38%.

Grupo Financiero Galicia 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.