Grupo Financiero Galicia (NASDAQ:GGAL) Downgraded to “Hold” at StockNews.com

StockNews.com cut shares of Grupo Financiero Galicia (NASDAQ:GGAL) from a buy rating to a hold rating in a report issued on Monday.

Grupo Financiero Galicia Stock Performance

Shares of NASDAQ:GGAL opened at $29.00 on Monday. Grupo Financiero Galicia has a fifty-two week low of $10.57 and a fifty-two week high of $37.83. The business has a 50-day simple moving average of $33.09 and a two-hundred day simple moving average of $26.27. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.98 and a quick ratio of 0.98.

Grupo Financiero Galicia Increases Dividend

The company also recently declared a Variable dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 21st were paid a dividend of $0.70 per share. This is an increase from Grupo Financiero Galicia’s previous Variable dividend of $0.12. The ex-dividend date was Friday, June 21st.

Institutional Investors Weigh In On Grupo Financiero Galicia

A number of large investors have recently made changes to their positions in the company. INCA Investments LLC grew its stake in shares of Grupo Financiero Galicia by 27.6% during the 1st quarter. INCA Investments LLC now owns 1,078,149 shares of the bank’s stock valued at $27,407,000 after purchasing an additional 232,980 shares during the period. Rokos Capital Management LLP grew its stake in shares of Grupo Financiero Galicia by 58.7% during the 1st quarter. Rokos Capital Management LLP now owns 572,752 shares of the bank’s stock valued at $14,559,000 after acquiring an additional 211,870 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Grupo Financiero Galicia by 62.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 421,468 shares of the bank’s stock valued at $7,277,000 after acquiring an additional 161,684 shares during the period. Banque Pictet & Cie SA bought a new position in shares of Grupo Financiero Galicia during the 3rd quarter valued at approximately $4,706,000. Finally, BNP Paribas Financial Markets grew its stake in shares of Grupo Financiero Galicia by 266.5% during the 1st quarter. BNP Paribas Financial Markets now owns 338,939 shares of the bank’s stock valued at $8,616,000 after acquiring an additional 246,452 shares during the period.

About Grupo Financiero Galicia

Grupo Financiero Galicia SA, a financial service holding company, provides various financial products and services to individuals and companies in Argentina. The company operates through Banks, NaranjaX, Insurance, and Other Businesses segments. It also offers personal loans; express and mortgage loans; pledge and credit card loans; credit and debit cards; and online banking services, as well as savings, deposits, and checking accounts related services.