Truist Financial Corp Takes $273,000 Position in Grupo Financiero Galicia S.A. (NASDAQ:GGAL)

Truist Financial Corp acquired a new stake in Grupo Financiero Galicia S.A. (NASDAQ:GGAL) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,945 shares of the bank’s stock, valued at approximately $273,000.

Several other hedge funds also recently added to or reduced their stakes in GGAL. Claro Advisors LLC purchased a new position in shares of Grupo Financiero Galicia during the 1st quarter worth $235,000. Norden Group LLC acquired a new stake in shares of Grupo Financiero Galicia in the first quarter valued at $383,000. Diversify Advisory Services LLC purchased a new stake in shares of Grupo Financiero Galicia in the 1st quarter valued at $729,000. BNP Paribas Financial Markets lifted its stake in Grupo Financiero Galicia by 266.5% during the 1st quarter. BNP Paribas Financial Markets now owns 338,939 shares of the bank’s stock worth $8,616,000 after acquiring an additional 246,452 shares in the last quarter. Finally, INCA Investments LLC boosted its holdings in Grupo Financiero Galicia by 27.6% during the 1st quarter. INCA Investments LLC now owns 1,078,149 shares of the bank’s stock valued at $27,407,000 after acquiring an additional 232,980 shares during the period.

Grupo Financiero Galicia Price Performance

GGAL stock opened at $50.62 on Friday. Grupo Financiero Galicia S.A. has a 12 month low of $10.57 and a 12 month high of $51.02. The company has a market cap of $7.46 billion, a price-to-earnings ratio of 7.02 and a beta of 1.93. The company has a fifty day moving average price of $41.76 and a 200 day moving average price of $34.79.

Grupo Financiero Galicia Increases Dividend

The business also recently declared a — dividend, which was paid on Monday, August 26th. Investors of record on Monday, August 19th were given a $0.7248 dividend. The ex-dividend date was Monday, August 19th. This is a boost from Grupo Financiero Galicia’s previous — dividend of $0.14. Grupo Financiero Galicia’s payout ratio is 32.73%.

Analysts Set New Price Targets

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

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.