Grupo Financiero Galicia (NASDAQ:GGAL) Stock Price Up 8.4% – Still a Buy?

Grupo Financiero Galicia S.A. (NASDAQ:GGAL)’s share price shot up 8.4% during mid-day trading on Thursday . The stock traded as high as $67.61 and last traded at $67.58. 678,918 shares traded hands during trading, a decline of 34% from the average session volume of 1,034,339 shares. The stock had previously closed at $62.32.

Analyst Ratings Changes

GGAL has been the subject of a number of analyst reports. Citigroup raised 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 report on Wednesday, September 4th. Morgan Stanley raised Grupo Financiero Galicia from an “underweight” rating to an “overweight” rating and set a $92.00 price target on the stock in a research note on Monday, December 16th. Finally, StockNews.com lowered shares of Grupo Financiero Galicia from a “buy” rating to a “hold” rating in a report on Thursday, November 14th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.00.

Grupo Financiero Galicia Stock Performance

The stock’s 50-day moving average is $58.11 and its 200-day moving average is $44.25. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.10. The stock has a market cap of $10.06 billion, a price-to-earnings ratio of 9.36 and a beta of 1.87.

Institutional Investors Weigh In On Grupo Financiero Galicia

Institutional investors and hedge funds have recently modified their holdings of the stock. Ashton Thomas Private Wealth LLC purchased a new position in Grupo Financiero Galicia in the 2nd quarter valued at about $51,000. NorthRock Partners LLC acquired a new stake in Grupo Financiero Galicia during the 3rd quarter valued at approximately $253,000. XTX Topco Ltd acquired a new stake in Grupo Financiero Galicia in the third quarter valued at $266,000. Quadrature Capital Ltd bought a new position in Grupo Financiero Galicia during the 3rd quarter valued at $278,000. Finally, X Square Capital LLC acquired a new position in Grupo Financiero Galicia during the 3rd quarter worth $316,000.

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.