Grupo Financiero Galicia (NASDAQ:GGAL) Reaches New 1-Year High – What’s Next?

Shares of Grupo Financiero Galicia S.A. (NASDAQ:GGAL) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $70.99 and last traded at $68.98, with a volume of 127989 shares. The stock had previously closed at $68.80.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on GGAL. Morgan Stanley upgraded Grupo Financiero Galicia from an “underweight” rating to an “overweight” rating and set a $92.00 price objective for the company in a research report on Monday, December 16th. StockNews.com lowered shares of Grupo Financiero Galicia from a “buy” rating to a “hold” rating in a research report on Thursday, November 14th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Grupo Financiero Galicia presently has an average rating of “Moderate Buy” and a consensus price target of $59.00.

Grupo Financiero Galicia Stock Down 1.7 %

The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.10. The company has a fifty day simple moving average of $58.43 and a 200-day simple moving average of $44.43. The firm has a market cap of $9.97 billion, a P/E ratio of 9.27 and a beta of 1.87.

Institutional Trading of Grupo Financiero Galicia

Several institutional investors and hedge funds have recently modified their holdings of GGAL. JPMorgan Chase & Co. grew its position in shares of Grupo Financiero Galicia by 267.2% during the third quarter. JPMorgan Chase & Co. now owns 92,505 shares of the bank’s stock worth $3,894,000 after purchasing an additional 67,312 shares in the last quarter. Dorsey Wright & Associates raised its position in shares of Grupo Financiero Galicia by 11.2% during the third quarter. Dorsey Wright & Associates now owns 127,179 shares of the bank’s stock valued at $5,353,000 after buying an additional 12,815 shares during the last quarter. XTX Topco Ltd purchased a new position in shares of Grupo Financiero Galicia in the third quarter worth $266,000. State Street Corp boosted its position in shares of Grupo Financiero Galicia by 1.5% during the third quarter. State Street Corp now owns 84,378 shares of the bank’s stock worth $3,551,000 after acquiring an additional 1,260 shares during the last quarter. Finally, Quadrature Capital Ltd purchased a new position in Grupo Financiero Galicia during the third quarter valued at $278,000.

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.