Grupo Financiero Galicia (NASDAQ:GGAL) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of Grupo Financiero Galicia (NASDAQ:GGALFree Report) from a hold rating to a buy rating in a research report released on Wednesday.

Grupo Financiero Galicia Price Performance

GGAL stock opened at $34.79 on Wednesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.98 and a current ratio of 0.98. The business has a 50-day moving average price of $32.68 and a 200 day moving average price of $24.49. Grupo Financiero Galicia has a 1-year low of $10.57 and a 1-year high of $37.83.

Grupo Financiero Galicia Increases Dividend

The business also recently announced a Variable dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 21st will be paid a $0.70 dividend. The ex-dividend date is Friday, June 21st. This is a positive change from Grupo Financiero Galicia’s previous Variable dividend of $0.12.

Hedge Funds Weigh In On Grupo Financiero Galicia

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Hsbc Holdings PLC grew its stake in Grupo Financiero Galicia by 1.2% in the third quarter. Hsbc Holdings PLC now owns 255,668 shares of the bank’s stock valued at $3,370,000 after purchasing an additional 3,116 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Grupo Financiero Galicia by 62.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 421,468 shares of the bank’s stock valued at $7,277,000 after purchasing an additional 161,684 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in Grupo Financiero Galicia in the fourth quarter valued at about $2,924,000. Dfpg Investments LLC grew its stake in Grupo Financiero Galicia by 49.8% in the fourth quarter. Dfpg Investments LLC now owns 24,737 shares of the bank’s stock valued at $415,000 after purchasing an additional 8,224 shares during the last quarter. Finally, Aigen Investment Management LP purchased a new position in Grupo Financiero Galicia in the third quarter valued at about $203,000.

About Grupo Financiero Galicia

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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.

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