Brokerages Set Grupo Financiero Galicia S.A. (NASDAQ:GGAL) Price Target at $68.33

Shares of Grupo Financiero Galicia S.A. (NASDAQ:GGAL) have earned an average recommendation of “Hold” from the seven research firms that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $68.3333.

A number of equities analysts have recently issued reports on the stock. Weiss Ratings lowered shares of Grupo Financiero Galicia from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, August 14th. Zacks Research raised shares of Grupo Financiero Galicia from a “strong sell” rating to a “hold” rating in a report on Thursday, May 14th. JPMorgan Chase & Co. boosted their price objective on shares of Grupo Financiero Galicia from $72.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, June 25th. Finally, Wall Street Zen raised Grupo Financiero Galicia from a “sell” rating to a “hold” rating in a report on Saturday, June 27th.

Grupo Financiero Galicia Stock Performance

Shares of GGAL stock opened at $42.24 on Friday. Grupo Financiero Galicia has a 52 week low of $25.89 and a 52 week high of $62.51. The stock has a market capitalization of $6.78 billion, a PE ratio of 18.61, a PEG ratio of 0.24 and a beta of 1.36. The stock’s fifty day moving average is $48.20 and its 200-day moving average is $46.93.

Grupo Financiero Galicia (NASDAQ:GGAL) last issued its quarterly earnings results on Tuesday, August 25th. The bank reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.24. The company had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.70 billion. As a group, analysts forecast that Grupo Financiero Galicia will post 3.75 earnings per share for the current fiscal year.

Grupo Financiero Galicia Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 24th will be given a dividend of $0.0531 per share. The ex-dividend date is Monday, August 24th. This represents a c) dividend on an annualized basis and a dividend yield of 1.5%. Grupo Financiero Galicia’s payout ratio is presently 25.55%.

Insider Activity

In other news, Director Silvestre Vila Moret purchased 224,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 8th. The shares were acquired at an average price of $5.36 per share, for a total transaction of $1,200,640.00. Following the completion of the acquisition, the director directly owned 3,000,000 shares in the company, valued at approximately $16,080,000. The trade was a 8.07% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders acquired a total of 802,791 shares of company stock worth $4,253,109 over the last quarter.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Rockefeller Capital Management L.P. acquired a new stake in shares of Grupo Financiero Galicia during the 4th quarter worth approximately $39,000. Caitong International Asset Management Co. Ltd lifted its holdings in Grupo Financiero Galicia by 4,942.9% in the third quarter. Caitong International Asset Management Co. Ltd now owns 2,118 shares of the bank’s stock valued at $58,000 after buying an additional 2,076 shares during the period. State of Wyoming acquired a new position in Grupo Financiero Galicia in the fourth quarter valued at approximately $74,000. Leonteq Securities AG boosted its stake in Grupo Financiero Galicia by 563.2% in the first quarter. Leonteq Securities AG now owns 2,036 shares of the bank’s stock valued at $95,000 after acquiring an additional 1,729 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Grupo Financiero Galicia during the 2nd quarter worth $151,000.

About Grupo Financiero Galicia

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.