Grupo Financiero Galicia (NASDAQ:GGAL) Upgraded to Buy by 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 Ratings reports. The firm currently has $54.00 target price on the bank’s stock.

Several other research analysts have also recently weighed in on the stock. Bank of America upgraded shares of Grupo Financiero Galicia from an underperform rating to a buy rating and upped their price objective for the stock from $28.00 to $36.00 in a research report on Thursday, August 8th. JPMorgan Chase & Co. upgraded shares of Grupo Financiero Galicia from an underweight rating to an overweight rating and set a $54.00 price objective on the stock in a research report on Friday, August 30th. Finally, StockNews.com upgraded shares of Grupo Financiero Galicia from a hold rating to a buy rating in a research report on Thursday, August 29th.

Grupo Financiero Galicia Trading Down 2.2 %

GGAL stock opened at $41.08 on Wednesday. The company’s 50 day moving average is $31.77 and its 200 day moving average is $30.32. The stock has a market cap of $6.06 billion, a price-to-earnings ratio of 6.59 and a beta of 1.93. Grupo Financiero Galicia has a 1-year low of $10.57 and a 1-year high of $43.18.

Grupo Financiero Galicia Increases Dividend

The firm also recently declared a — dividend, which was paid on Monday, August 26th. Shareholders of record on Monday, August 19th were given a dividend of $0.7248 per share. This is a boost from Grupo Financiero Galicia’s previous — dividend of $0.14. The ex-dividend date was Monday, August 19th. Grupo Financiero Galicia’s dividend payout ratio (DPR) is presently 39.81%.

Institutional Inflows and Outflows

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

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.