Grupo Financiero Galicia (NASDAQ:GGAL) Shares Gap Up to $30.78

Grupo Financiero Galicia S.A. (NASDAQ:GGAL)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $30.07, but opened at $30.78. Grupo Financiero Galicia shares last traded at $34.62, with a volume of 4837370 shares trading hands.

Several equities analysts have weighed in on the stock. ValuEngine upgraded shares of Grupo Financiero Galicia from a “strong sell” rating to a “sell” rating in a report on Wednesday. BidaskClub lowered shares of Grupo Financiero Galicia from a “buy” rating to a “hold” rating in a report on Tuesday. JPMorgan Chase & Co. lowered shares of Grupo Financiero Galicia from a “neutral” rating to an “underweight” rating and decreased their target price for the company from $28.00 to $20.00 in a report on Monday, April 29th. Finally, Zacks Investment Research lowered shares of Grupo Financiero Galicia from a “strong-buy” rating to a “hold” rating in a report on Friday, April 19th. Three investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $26.00.

The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.15 and a current ratio of 0.95. The firm has a market capitalization of $4.94 billion, a P/E ratio of 9.64, a P/E/G ratio of 0.50 and a beta of 0.53.

The business also recently disclosed an annual dividend, which was paid on Thursday, May 16th. Stockholders of record on Thursday, May 16th were issued a $0.307 dividend. This is a positive change from Grupo Financiero Galicia’s previous annual dividend of $0.00. This represents a dividend yield of 1.26%. The ex-dividend date of this dividend was Wednesday, May 15th. Grupo Financiero Galicia’s dividend payout ratio is currently 8.36%.

Several hedge funds have recently modified their holdings of GGAL. FNY Investment Advisers LLC acquired a new position in shares of Grupo Financiero Galicia in the 1st quarter worth approximately $127,000. NumerixS Investment Technologies Inc acquired a new position in shares of Grupo Financiero Galicia in the 4th quarter worth approximately $143,000. Exane Derivatives lifted its holdings in shares of Grupo Financiero Galicia by 13.2% in the 1st quarter. Exane Derivatives now owns 6,439 shares of the bank’s stock worth $164,000 after acquiring an additional 753 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of Grupo Financiero Galicia by 60.2% in the 4th quarter. Bank of America Corp DE now owns 6,665 shares of the bank’s stock worth $184,000 after acquiring an additional 2,504 shares during the last quarter. Finally, Bayesian Capital Management LP acquired a new position in shares of Grupo Financiero Galicia in the 1st quarter worth approximately $219,000. Hedge funds and other institutional investors own 25.82% of the company’s stock.

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Grupo Financiero Galicia Company Profile (NASDAQ:GGAL)

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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