Havemeyer Place LP Purchases New Holdings in Grupo Financiero Galicia S.A. $GGAL

Havemeyer Place LP purchased a new stake in Grupo Financiero Galicia S.A. (NASDAQ:GGAL) in the 4th quarter, HoldingsChannel reports. The fund purchased 10,411 shares of the bank’s stock, valued at approximately $562,000.

Other hedge funds have also made changes to their positions in the company. Vaughan Nelson Investment Management L.P. purchased a new stake in shares of Grupo Financiero Galicia in the 4th quarter valued at approximately $2,335,000. Banco Santander S.A. lifted its position in shares of Grupo Financiero Galicia by 215.8% in the 3rd quarter. Banco Santander S.A. now owns 119,514 shares of the bank’s stock valued at $3,294,000 after acquiring an additional 81,670 shares in the last quarter. Quantbot Technologies LP lifted its position in shares of Grupo Financiero Galicia by 1,271.3% in the 3rd quarter. Quantbot Technologies LP now owns 29,195 shares of the bank’s stock valued at $805,000 after acquiring an additional 27,066 shares in the last quarter. Alphadyne Asset Management LP purchased a new stake in shares of Grupo Financiero Galicia in the 3rd quarter valued at approximately $827,000. Finally, Carrhae Capital LLP purchased a new stake in shares of Grupo Financiero Galicia in the 3rd quarter valued at approximately $8,701,000.

Analyst Ratings Changes

Several equities research analysts recently commented on GGAL shares. JPMorgan Chase & Co. reduced their price target on shares of Grupo Financiero Galicia from $75.00 to $72.00 and set an “overweight” rating for the company in a research report on Thursday, February 19th. Wall Street Zen downgraded shares of Grupo Financiero Galicia from a “hold” rating to a “sell” rating in a research report on Saturday, May 23rd. Weiss Ratings reiterated a “sell (d+)” rating on shares of Grupo Financiero Galicia in a research report on Friday, March 27th. Finally, Zacks Research upgraded shares of Grupo Financiero Galicia from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 14th. One equities 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’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $64.00.

Grupo Financiero Galicia Stock Up 0.5%

Grupo Financiero Galicia stock opened at $48.04 on Tuesday. The company has a market capitalization of $7.72 billion, a P/E ratio of 21.16, a P/E/G ratio of 0.33 and a beta of 1.32. The firm’s fifty day simple moving average is $45.46 and its 200-day simple moving average is $48.23. The company has a current ratio of 1.13, a quick ratio of 1.16 and a debt-to-equity ratio of 0.32. Grupo Financiero Galicia S.A. has a 1-year low of $25.89 and a 1-year high of $62.51.

Grupo Financiero Galicia (NASDAQ:GGAL) last released its quarterly earnings results on Tuesday, May 26th. The bank reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.07). The business had revenue of $1.55 billion for the quarter, compared to the consensus estimate 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 earnings per share for the current fiscal year.

Grupo Financiero Galicia Announces Dividend

The firm also recently declared a monthly dividend, which was paid on Monday, May 11th. Stockholders of record on Monday, May 4th were issued a dividend of $0.6229 per share. The ex-dividend date was Monday, May 4th. This represents a c) dividend on an annualized basis and a dividend yield of 15.6%. Grupo Financiero Galicia’s dividend payout ratio (DPR) is currently 213.66%.

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.