Grupo Financiero Galicia (NASDAQ:GGAL) Reaches New 12-Month High – Still a Buy?

Grupo Financiero Galicia S.A. (NASDAQ:GGAL)’s stock price reached a new 52-week high on Wednesday . The company traded as high as $61.27 and last traded at $61.07, with a volume of 1196137 shares changing hands. The stock had previously closed at $57.95.

Analyst Ratings Changes

GGAL has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. upgraded 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 report on Friday, August 30th. Citigroup upgraded Grupo Financiero Galicia from a “neutral” rating to a “buy” rating and set a $54.00 price target on the stock in a research note on Wednesday, September 4th. Finally, StockNews.com cut Grupo Financiero Galicia from a “buy” rating to a “hold” rating in a research report on Thursday, November 14th.

Grupo Financiero Galicia Trading Up 6.6 %

The business has a 50 day moving average of $52.88 and a 200 day moving average of $40.95. The firm has a market cap of $9.11 billion, a price-to-earnings ratio of 8.73 and a beta of 1.88. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.10.

Institutional Trading of Grupo Financiero Galicia

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Banco Santander S.A. purchased a new position in Grupo Financiero Galicia in the second quarter valued at about $211,000. William Blair Investment Management LLC bought a new stake in shares of Grupo Financiero Galicia in the 2nd quarter valued at approximately $8,573,000. INCA Investments LLC increased its stake in Grupo Financiero Galicia by 1.8% during the third quarter. INCA Investments LLC now owns 1,373,576 shares of the bank’s stock valued at $57,814,000 after purchasing an additional 24,354 shares during the last quarter. Turim 21 Investimentos Ltda. acquired a new stake in Grupo Financiero Galicia during the second quarter worth about $453,000. Finally, B. Riley Wealth Advisors Inc. acquired a new stake in shares of Grupo Financiero Galicia during the 2nd quarter worth approximately $582,000.

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.