Grupo Financiero Galicia S.A. (NASDAQ:GGAL) Short Interest Up 5.9% in October

Grupo Financiero Galicia S.A. (NASDAQ:GGAL) saw a large increase in short interest in the month of October. As of October 15th, there was short interest totalling 3,790,000 shares, an increase of 5.9% from the September 30th total of 3,580,000 shares. Based on an average trading volume of 1,040,000 shares, the short-interest ratio is currently 3.6 days. Currently, 3.2% of the shares of the stock are short sold.

Hedge Funds Weigh In On Grupo Financiero Galicia

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. NorthRock Partners LLC bought a new position in shares of Grupo Financiero Galicia during the third quarter valued at $253,000. Diversify Wealth Management LLC raised its stake in shares of Grupo Financiero Galicia by 4.5% during the third quarter. Diversify Wealth Management LLC now owns 27,819 shares of the bank’s stock valued at $1,171,000 after acquiring an additional 1,202 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Grupo Financiero Galicia during the third quarter valued at $1,503,000. X Square Capital LLC bought a new position in shares of Grupo Financiero Galicia during the third quarter valued at $316,000. Finally, Claro Advisors LLC raised its stake in shares of Grupo Financiero Galicia by 1,058.6% during the third quarter. Claro Advisors LLC now owns 107,800 shares of the bank’s stock valued at $4,537,000 after acquiring an additional 98,496 shares during the last quarter.

Analyst Ratings Changes

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

Grupo Financiero Galicia Price Performance

Shares of NASDAQ:GGAL opened at $52.72 on Friday. The company has a market cap of $7.77 billion, a price-to-earnings ratio of 7.44 and a beta of 1.93. The firm has a 50 day simple moving average of $44.55 and a 200 day simple moving average of $36.21. Grupo Financiero Galicia has a one year low of $10.76 and a one year high of $55.61.

Grupo Financiero Galicia Increases Dividend

The business also recently disclosed a — dividend, which was paid on Monday, August 26th. Investors of record on Monday, August 19th were paid a $0.7248 dividend. This is an increase 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 is presently 33.29%.

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.