Grupo Financiero Galicia S.A. (NASDAQ:GGAL) Short Interest Down 15.0% in September

Grupo Financiero Galicia S.A. (NASDAQ:GGAL) saw a large decline in short interest in September. As of September 30th, there was short interest totalling 3,580,000 shares, a decline of 15.0% from the September 15th total of 4,210,000 shares. Currently, 3.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 980,200 shares, the short-interest ratio is currently 3.7 days.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. StockNews.com upgraded Grupo Financiero Galicia from a “hold” rating to a “buy” rating in a research report on Thursday, August 29th. Bank of America upgraded Grupo Financiero Galicia from an “underperform” rating to a “buy” rating and raised their price objective for the company from $28.00 to $36.00 in a report on Thursday, August 8th. Citigroup raised shares of Grupo Financiero Galicia from a “neutral” rating to a “buy” rating and set a $54.00 target price for the company in a report on Wednesday, September 4th. Finally, JPMorgan Chase & Co. upgraded shares of Grupo Financiero Galicia from an “underweight” rating to an “overweight” rating and set a $54.00 target price for the company in a research report on Friday, August 30th.

Grupo Financiero Galicia Price Performance

Shares of NASDAQ:GGAL traded down $0.81 during midday trading on Wednesday, hitting $48.84. The company had a trading volume of 1,147,850 shares, compared to its average volume of 1,028,967. Grupo Financiero Galicia has a twelve month low of $10.57 and a twelve month high of $51.02. The stock has a market cap of $7.20 billion, a price-to-earnings ratio of 6.77 and a beta of 1.93. The business’s 50-day simple moving average is $40.71 and its 200-day simple moving average is $34.42.

Grupo Financiero Galicia Increases Dividend

The business also recently declared a — dividend, which was paid on Monday, August 26th. Stockholders of record on Monday, August 19th were issued a dividend of $0.7248 per share. The ex-dividend date of this dividend was Monday, August 19th. This is a positive change from Grupo Financiero Galicia’s previous — dividend of $0.14. Grupo Financiero Galicia’s payout ratio is currently 32.73%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Bank of New Hampshire purchased a new position in Grupo Financiero Galicia during the third quarter worth about $631,000. Truist Financial Corp purchased a new stake in shares of Grupo Financiero Galicia during the 2nd quarter valued at approximately $273,000. B. Riley Wealth Advisors Inc. acquired a new position in Grupo Financiero Galicia in the second quarter valued at approximately $582,000. Duquesne Family Office LLC grew its position in Grupo Financiero Galicia by 47.8% in the second quarter. Duquesne Family Office LLC now owns 475,763 shares of the bank’s stock worth $14,539,000 after acquiring an additional 153,900 shares during the period. Finally, Turim 21 Investimentos Ltda. acquired a new stake in Grupo Financiero Galicia during the second quarter worth $453,000.

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.