Grupo Financiero Galicia (NASDAQ:GGAL) Stock Crosses Above 200-Day Moving Average – Here’s What Happened

Shares of Grupo Financiero Galicia S.A. (NASDAQ:GGAL) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $48.34 and traded as high as $50.46. Grupo Financiero Galicia shares last traded at $49.95, with a volume of 667,536 shares trading hands.

Wall Street Analyst Weigh In

GGAL has been the topic of a number of research reports. Zacks Research upgraded shares of Grupo Financiero Galicia from a “strong sell” rating to a “hold” rating in a report on Thursday, May 14th. JPMorgan Chase & Co. increased their price target on shares of Grupo Financiero Galicia from $72.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, June 25th. Wall Street Zen raised Grupo Financiero Galicia from a “sell” rating to a “hold” rating in a research note on Saturday, June 27th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Grupo Financiero Galicia in a research report on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $68.33.

Grupo Financiero Galicia Trading Up 0.0%

The company’s 50 day moving average price is $49.30 and its two-hundred day moving average price is $48.34. The firm has a market cap of $8.02 billion, a PE ratio of 22.00, a P/E/G ratio of 0.34 and a beta of 1.34. The company has a quick ratio of 1.16, a current ratio of 1.13 and a debt-to-equity ratio of 0.32.

Grupo Financiero Galicia (NASDAQ:GGAL) last issued its quarterly earnings results on Tuesday, May 26th. The bank reported $0.29 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.07). The company had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.70 billion. As a group, sell-side analysts forecast that Grupo Financiero Galicia S.A. will post 3.74 EPS for the current year.

Grupo Financiero Galicia Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Monday, May 11th. Stockholders of record on Monday, May 4th were given a dividend of $0.6229 per share. This represents a c) annualized dividend and a dividend yield of 15.0%. The ex-dividend date was Monday, May 4th. Grupo Financiero Galicia’s dividend payout ratio (DPR) is 214.10%.

Insider Activity

In related news, Director Silvestre Vila Moret purchased 224,000 shares of the business’s stock in a transaction dated Wednesday, July 8th. The shares were purchased at an average cost of $5.36 per share, for a total transaction of $1,200,640.00. Following the completion of the acquisition, the director owned 3,000,000 shares in the company, valued at approximately $16,080,000. This trade represents a 8.07% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders have acquired 802,791 shares of company stock worth $4,253,109 over the last ninety days.

Hedge Funds Weigh In On Grupo Financiero Galicia

A number of hedge funds have recently added to or reduced their stakes in GGAL. Rockefeller Capital Management L.P. purchased a new stake in shares of Grupo Financiero Galicia in the fourth quarter valued at approximately $39,000. State of Wyoming bought a new position in Grupo Financiero Galicia in the fourth quarter worth approximately $74,000. Leonteq Securities AG increased its holdings in Grupo Financiero Galicia by 563.2% during the 1st quarter. Leonteq Securities AG now owns 2,036 shares of the bank’s stock worth $95,000 after purchasing an additional 1,729 shares during the period. Caitong International Asset Management Co. Ltd increased its holdings in Grupo Financiero Galicia by 4,942.9% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 2,118 shares of the bank’s stock worth $58,000 after purchasing an additional 2,076 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in Grupo Financiero Galicia during the 2nd quarter valued at $151,000.

Grupo Financiero Galicia Company 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.