Brokerages Set Grupo Financiero Galicia S.A. (GGAL) Price Target at $20.00

Grupo Financiero Galicia S.A. (NASDAQ:GGAL) has been assigned a consensus rating of “Hold” from the eight brokerages that are covering the company, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $20.00.

Several research analysts have recently weighed in on the stock. ValuEngine downgraded shares of Grupo Financiero Galicia from a “sell” rating to a “strong sell” rating in a research report on Monday, March 25th. BidaskClub downgraded shares of Grupo Financiero Galicia from a “sell” rating to a “strong sell” rating in a research report on Friday, April 26th. JPMorgan Chase & Co. downgraded shares of Grupo Financiero Galicia from a “neutral” rating to an “underweight” rating and dropped their target price for the stock from $28.00 to $20.00 in a research report on Monday, April 29th. Zacks Investment Research downgraded shares of Grupo Financiero Galicia from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 19th. Finally, Bank of America downgraded shares of Grupo Financiero Galicia from a “neutral” rating to an “underperform” rating in a research report on Thursday, February 21st.

Shares of Grupo Financiero Galicia stock traded up $0.14 during trading on Friday, hitting $26.22. The stock had a trading volume of 14,764 shares, compared to its average volume of 1,101,369. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.08 and a quick ratio of 1.19. Grupo Financiero Galicia has a 1 year low of $18.30 and a 1 year high of $52.49.

The business also recently declared an annual dividend, which was paid on Thursday, May 16th. Investors of record on Thursday, May 16th were issued a dividend of $0.307 per share. This is a boost from Grupo Financiero Galicia’s previous annual dividend of $0.00. This represents a dividend yield of 1.26%. The ex-dividend date was Wednesday, May 15th.

Several hedge funds have recently bought and sold shares of GGAL. BlackRock Inc. boosted its holdings in shares of Grupo Financiero Galicia by 44.9% during the fourth quarter. BlackRock Inc. now owns 2,390,466 shares of the bank’s stock worth $65,905,000 after purchasing an additional 740,685 shares during the period. RWC Asset Management LLP acquired a new stake in shares of Grupo Financiero Galicia during the fourth quarter worth approximately $15,409,000. INCA Investments LLC boosted its holdings in shares of Grupo Financiero Galicia by 24.4% during the fourth quarter. INCA Investments LLC now owns 2,832,701 shares of the bank’s stock worth $78,098,000 after purchasing an additional 556,094 shares during the period. Morgan Stanley boosted its holdings in shares of Grupo Financiero Galicia by 18.2% during the first quarter. Morgan Stanley now owns 3,319,413 shares of the bank’s stock worth $84,711,000 after purchasing an additional 509,930 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in shares of Grupo Financiero Galicia by 207.6% during the first quarter. Wellington Management Group LLP now owns 747,968 shares of the bank’s stock worth $19,088,000 after purchasing an additional 504,803 shares during the period. Institutional investors and hedge funds own 25.71% of the company’s stock.

About Grupo Financiero Galicia

Grupo Financiero Galicia SA, a financial services holding company, provides various financial products and services in Argentina. The company operates through Banking, Regional Credit Cards, Insurance, and Other Grupo Galicia Businesses segments. It offers corporate banking services to companies; credit and debit cards, loans, and financing advice to various agricultural-sector clients; foreign trade transaction services; and e-banking services.

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