Grupo Financiero Galicia (NASDAQ:GGAL) Reaches New 1-Year High – Time to Buy?

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

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on GGAL shares. Citigroup upgraded shares of Grupo Financiero Galicia from a “neutral” rating to a “buy” rating and set a $54.00 target price for the company in a research note on Wednesday, September 4th. JPMorgan Chase & Co. raised 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. Finally, StockNews.com cut shares of Grupo Financiero Galicia from a “buy” rating to a “hold” rating in a research report on Thursday, November 14th.

Grupo Financiero Galicia Price Performance

The company has a debt-to-equity ratio of 0.10, a current ratio of 1.11 and a quick ratio of 1.11. The firm’s fifty day moving average price is $54.02 and its 200-day moving average price is $41.45.

Hedge Funds Weigh In On Grupo Financiero Galicia

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GGAL. Jennison Associates LLC acquired a new position in Grupo Financiero Galicia during the third quarter worth $51,416,000. Ping Capital Management Inc. bought a new stake in Grupo Financiero Galicia during the second quarter worth $23,611,000. BNP Paribas Financial Markets lifted its stake in Grupo Financiero Galicia by 103.8% in the third quarter. BNP Paribas Financial Markets now owns 625,003 shares of the bank’s stock valued at $26,306,000 after acquiring an additional 318,326 shares during the last quarter. William Blair Investment Management LLC bought a new position in shares of Grupo Financiero Galicia in the 2nd quarter valued at about $8,573,000. Finally, Duquesne Family Office LLC increased its stake in shares of Grupo Financiero Galicia by 47.8% during the 2nd quarter. Duquesne Family Office LLC now owns 475,763 shares of the bank’s stock worth $14,539,000 after purchasing an additional 153,900 shares during the last quarter.

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.