Grupo Financiero Galicia S.A. (GGAL) Short Interest Update

Grupo Financiero Galicia S.A. (NASDAQ:GGAL) saw a significant drop in short interest during the month of October. As of October 13th, there was short interest totalling 1,731,875 shares, a drop of 28.3% from the September 29th total of 2,413,853 shares. Approximately 1.5% of the shares of the company are sold short. Based on an average daily trading volume, of 615,533 shares, the days-to-cover ratio is presently 2.8 days.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Victory Capital Management Inc. purchased a new stake in Grupo Financiero Galicia in the third quarter valued at approximately $107,000. Gilder Gagnon Howe & Co. LLC boosted its position in Grupo Financiero Galicia by 0.6% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 2,836 shares of the bank’s stock valued at $121,000 after buying an additional 17 shares during the last quarter. Advisor Group Inc. boosted its position in Grupo Financiero Galicia by 126.5% in the second quarter. Advisor Group Inc. now owns 2,997 shares of the bank’s stock valued at $128,000 after buying an additional 1,674 shares during the last quarter. Bank of America Corp DE boosted its position in Grupo Financiero Galicia by 39.5% in the first quarter. Bank of America Corp DE now owns 3,132 shares of the bank’s stock valued at $120,000 after buying an additional 887 shares during the last quarter. Finally, Marshall Wace LLP purchased a new stake in Grupo Financiero Galicia in the second quarter valued at approximately $212,000. Hedge funds and other institutional investors own 25.76% of the company’s stock.

A number of equities analysts recently issued reports on GGAL shares. BidaskClub downgraded shares of Grupo Financiero Galicia from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. UBS AG raised shares of Grupo Financiero Galicia from a “neutral” rating to a “buy” rating in a report on Wednesday, October 4th. Citigroup Inc. raised shares of Grupo Financiero Galicia from a “sell” rating to a “neutral” rating in a report on Friday, September 8th. Santander downgraded shares of Grupo Financiero Galicia from a “hold” rating to an “underperform” rating in a report on Friday, September 8th. Finally, Zacks Investment Research downgraded shares of Grupo Financiero Galicia from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of “Hold”.

The company also recently announced an annual dividend, which was paid on Friday, October 6th. Investors of record on Wednesday, September 27th were given a $0.0005 dividend. The ex-dividend date was Tuesday, September 26th.

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About Grupo Financiero Galicia

Grupo Financiero Galicia SA (Grupo Financiero Galicia) is a financial services holding company. The Company’s segments include Banking, Regional Credit Cards, CFA, Insurance and Other Grupo Galicia Businesses. Banco de Galicia y Buenos Aires SA (Banco Galicia) is a subsidiary of the Company. Its banking business segment represents Banco Galicia consolidated line by line with Banco Galicia Uruguay SA (Galicia Uruguay).

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