Grupo Financiero Galicia (NASDAQ:GGAL) Rating Increased to Buy at Citigroup

Citigroup upgraded shares of Grupo Financiero Galicia (NASDAQ:GGAL) from a neutral rating to a buy rating in a research note released on Wednesday morning, Marketbeat.com reports. The brokerage currently has $54.00 target price on the bank’s stock.

Other research analysts have also issued research reports about the company. Bank of America raised Grupo Financiero Galicia from an underperform rating to a buy rating and boosted their price objective for the stock from $28.00 to $36.00 in a report on Thursday, August 8th. JPMorgan Chase & Co. raised shares of Grupo Financiero Galicia from an underweight rating to an overweight rating and set a $54.00 price target on the stock in a report on Friday, August 30th. Finally, StockNews.com raised shares of Grupo Financiero Galicia from a hold rating to a buy rating in a report on Thursday, August 29th.

Grupo Financiero Galicia Stock Down 2.2 %

Grupo Financiero Galicia stock opened at $41.08 on Wednesday. The stock has a market cap of $6.06 billion, a price-to-earnings ratio of 6.59 and a beta of 1.93. The business has a 50-day simple moving average of $31.56 and a 200 day simple moving average of $30.11. Grupo Financiero Galicia has a 52 week low of $10.57 and a 52 week high of $43.18.

Grupo Financiero Galicia Increases Dividend

The company also recently announced a — dividend, which was paid on Monday, August 26th. Investors of record on Monday, August 19th were given a $0.7248 dividend. This is an increase from Grupo Financiero Galicia’s previous — dividend of $0.14. The ex-dividend date of this dividend was Monday, August 19th. Grupo Financiero Galicia’s payout ratio is presently 39.81%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Truist Financial Corp bought a new stake in shares of Grupo Financiero Galicia in the 2nd quarter worth approximately $273,000. B. Riley Wealth Advisors Inc. purchased a new position in Grupo Financiero Galicia in the 2nd quarter worth $582,000. Duquesne Family Office LLC raised its position in Grupo Financiero Galicia by 47.8% in the 2nd quarter. Duquesne Family Office LLC now owns 475,763 shares of the bank’s stock worth $14,539,000 after purchasing an additional 153,900 shares during the period. Turim 21 Investimentos Ltda. bought a new stake in Grupo Financiero Galicia in the second quarter worth $453,000. Finally, William Blair Investment Management LLC purchased a new stake in Grupo Financiero Galicia during the second quarter valued at about $8,573,000.

Grupo Financiero Galicia Company Profile

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.