Grupo Financiero Galicia (NASDAQ:GGAL) Sets New 1-Year High – Still a Buy?

Grupo Financiero Galicia S.A. (NASDAQ:GGAL) hit a new 52-week high during trading on Tuesday . The company traded as high as $51.08 and last traded at $50.82, with a volume of 70397 shares trading hands. The stock had previously closed at $50.63.

Wall Street Analyst Weigh In

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

Grupo Financiero Galicia Trading Up 0.7 %

The business has a fifty day moving average of $42.09 and a 200-day moving average of $35.10. The company has a market cap of $7.52 billion, a PE ratio of 7.02 and a beta of 1.93.

Grupo Financiero Galicia Increases Dividend

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Claro Advisors LLC grew its stake in Grupo Financiero Galicia by 1,058.6% in the third quarter. Claro Advisors LLC now owns 107,800 shares of the bank’s stock worth $4,537,000 after purchasing an additional 98,496 shares during the period. Bank of New Hampshire purchased a new stake in shares of Grupo Financiero Galicia in the 3rd quarter worth about $631,000. Truist Financial Corp purchased a new stake in shares of Grupo Financiero Galicia in the 2nd quarter worth about $273,000. B. Riley Wealth Advisors Inc. bought a new position in shares of Grupo Financiero Galicia in the 2nd quarter worth about $582,000. Finally, Duquesne Family Office LLC lifted its position in Grupo Financiero Galicia by 47.8% during the 2nd quarter. Duquesne Family Office LLC now owns 475,763 shares of the bank’s stock valued at $14,539,000 after acquiring an additional 153,900 shares during the period.

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.