Grupo Financiero Galicia (NASDAQ:GGAL) Shares Gap Up After Dividend Announcement

Grupo Financiero Galicia S.A. (NASDAQ:GGAL) gapped up before the market opened on Monday after the company announced a dividend. The stock had previously closed at $26.45, but opened at $31.12. Grupo Financiero Galicia shares last traded at $30.54, with a volume of 2,840,825 shares changing hands.

The newly announced dividend which will be paid on Tuesday, October 7th. Investors of record on Tuesday, September 30th will be paid a $0.1381 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. Grupo Financiero Galicia’s dividend payout ratio (DPR) is currently 10.31%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on GGAL. Citigroup lowered shares of Grupo Financiero Galicia from a “buy” rating to a “neutral” rating in a research note on Wednesday, September 10th. Wall Street Zen raised shares of Grupo Financiero Galicia from a “sell” rating to a “hold” rating in a research note on Sunday, September 14th. Finally, Zacks Research lowered shares of Grupo Financiero Galicia from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 28th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Grupo Financiero Galicia has an average rating of “Hold” and a consensus price target of $81.00.

Grupo Financiero Galicia Price Performance

The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. The company’s fifty day moving average is $42.93 and its two-hundred day moving average is $51.55. The stock has a market cap of $4.65 billion, a price-to-earnings ratio of 4.64 and a beta of 1.71.

Institutional Trading of Grupo Financiero Galicia

Several institutional investors have recently added to or reduced their stakes in the stock. Cetera Investment Advisers grew its stake in shares of Grupo Financiero Galicia by 1.9% in the second quarter. Cetera Investment Advisers now owns 11,824 shares of the bank’s stock worth $596,000 after acquiring an additional 226 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Grupo Financiero Galicia by 11.2% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,022 shares of the bank’s stock worth $165,000 after acquiring an additional 304 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Grupo Financiero Galicia by 0.7% in the second quarter. Geode Capital Management LLC now owns 54,525 shares of the bank’s stock worth $2,748,000 after acquiring an additional 362 shares in the last quarter. Rokos Capital Management LLP grew its stake in shares of Grupo Financiero Galicia by 0.4% in the second quarter. Rokos Capital Management LLP now owns 110,167 shares of the bank’s stock worth $5,549,000 after acquiring an additional 408 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Grupo Financiero Galicia by 1.6% in the first quarter. Bank of New York Mellon Corp now owns 30,890 shares of the bank’s stock worth $1,683,000 after acquiring an additional 483 shares in the last quarter.

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.