Alpine Global Management LLC Buys New Holdings in Grupo Financiero Galicia S.A. $GGAL

Alpine Global Management LLC purchased a new stake in shares of Grupo Financiero Galicia S.A. (NASDAQ:GGAL) in the fourth quarter, HoldingsChannel.com reports. The firm purchased 170,000 shares of the bank’s stock, valued at approximately $9,170,000. Grupo Financiero Galicia comprises 1.6% of Alpine Global Management LLC’s holdings, making the stock its 11th biggest holding.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GGAL. NewEdge Advisors LLC increased its position in Grupo Financiero Galicia by 149.5% during the 1st quarter. NewEdge Advisors LLC now owns 9,003 shares of the bank’s stock worth $490,000 after purchasing an additional 5,394 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Grupo Financiero Galicia by 0.7% in the second quarter. Geode Capital Management LLC now owns 54,525 shares of the bank’s stock worth $2,748,000 after acquiring an additional 362 shares in the last quarter. Cetera Investment Advisers increased its position in shares of Grupo Financiero Galicia by 1.9% in the second quarter. Cetera Investment Advisers now owns 11,824 shares of the bank’s stock worth $596,000 after acquiring an additional 226 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Grupo Financiero Galicia by 93.2% in the second quarter. JPMorgan Chase & Co. now owns 75,302 shares of the bank’s stock worth $3,794,000 after acquiring an additional 36,326 shares in the last quarter. Finally, Marshall Wace LLP purchased a new position in shares of Grupo Financiero Galicia in the 2nd quarter valued at $5,299,000.

Analyst Ratings Changes

Several research analysts have commented on GGAL shares. JPMorgan Chase & Co. cut their price objective on 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. Zacks Research upgraded Grupo Financiero Galicia from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 14th. Wall Street Zen downgraded Grupo Financiero Galicia from a “hold” rating to a “sell” rating in a report on Saturday, May 23rd. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Grupo Financiero Galicia in a research report on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $64.00.

Grupo Financiero Galicia Trading Up 1.5%

Shares of GGAL opened at $56.37 on Friday. Grupo Financiero Galicia S.A. has a one year low of $25.89 and a one year high of $62.51. The stock has a 50-day moving average price of $46.85 and a 200 day moving average price of $48.49. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.16 and a current ratio of 1.13. The company has a market capitalization of $9.05 billion, a P/E ratio of 24.83, a P/E/G ratio of 0.39 and a beta of 1.32.

Grupo Financiero Galicia (NASDAQ:GGAL) last announced its earnings results on Tuesday, May 26th. The bank reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.07). The business had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.70 billion. Grupo Financiero Galicia had a net margin of 7.13% and a return on equity of 18.96%. Sell-side analysts forecast that Grupo Financiero Galicia S.A. will post 3.69 EPS for the current fiscal year.

Grupo Financiero Galicia Dividend Announcement

The business also recently disclosed a monthly dividend, which was paid on Monday, May 11th. Shareholders of record on Monday, May 4th were paid a dividend of $0.6229 per share. This represents a c) dividend on an annualized basis and a yield of 13.3%. The ex-dividend date was Monday, May 4th. Grupo Financiero Galicia’s dividend payout ratio is 214.10%.

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.