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

Grupo Financiero Galicia S.A. (NASDAQ:GGAL)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $51.02 and last traded at $50.48, with a volume of 214645 shares trading hands. The stock had previously closed at $49.65.

Wall Street Analysts Forecast Growth

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

Grupo Financiero Galicia Stock Down 0.0 %

The company has a market cap of $7.20 billion, a PE ratio of 6.77 and a beta of 1.93. The business’s fifty day moving average is $41.43 and its 200-day moving average is $34.62.

Grupo Financiero Galicia Increases Dividend

The business also recently announced a — dividend, which was paid on Monday, August 26th. Investors of record on Monday, August 19th were issued a $0.7248 dividend. This is a boost from Grupo Financiero Galicia’s previous — dividend of $0.14. The ex-dividend date was Monday, August 19th. Grupo Financiero Galicia’s dividend payout ratio (DPR) is currently 32.73%.

Hedge Funds Weigh In On Grupo Financiero Galicia

A number of hedge funds have recently modified their holdings of the company. Beverly Hills Private Wealth LLC lifted its position in shares of Grupo Financiero Galicia by 5.2% in the second quarter. Beverly Hills Private Wealth LLC now owns 9,212 shares of the bank’s stock worth $282,000 after buying an additional 452 shares in the last quarter. Blue Trust Inc. purchased a new position in shares of Grupo Financiero Galicia during the 2nd quarter worth about $40,000. Ashton Thomas Private Wealth LLC purchased a new stake in Grupo Financiero Galicia in the 2nd quarter worth about $51,000. Headlands Technologies LLC bought a new stake in Grupo Financiero Galicia in the first quarter worth about $67,000. Finally, Banco Santander S.A. purchased a new position in shares of Grupo Financiero Galicia during the second quarter valued at approximately $211,000.

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.