Grupo Financiero Galicia (NASDAQ:GGAL) Hits New 52-Week High – Here’s What Happened

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

Wall Street Analysts Forecast Growth

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

Grupo Financiero Galicia Price Performance

The stock’s fifty day simple moving average is $42.70 and its 200-day simple moving average is $35.36. The firm has a market cap of $7.34 billion, a PE ratio of 6.90 and a beta of 1.93.

Grupo Financiero Galicia Increases Dividend

The company also recently announced a — dividend, which was paid on Monday, August 26th. Investors of record on Monday, August 19th were paid a $0.7248 dividend. This is a positive change 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 32.73%.

Institutional Trading of Grupo Financiero Galicia

Several large investors have recently added to or reduced their stakes in GGAL. Banco Santander S.A. purchased a new stake in shares of Grupo Financiero Galicia in the 2nd quarter valued at $211,000. William Blair Investment Management LLC purchased a new stake in Grupo Financiero Galicia in the second quarter valued at $8,573,000. Headlands Technologies LLC acquired a new stake in Grupo Financiero Galicia during the 1st quarter worth about $67,000. Turim 21 Investimentos Ltda. purchased a new position in shares of Grupo Financiero Galicia during the 2nd quarter valued at about $453,000. Finally, Claro Advisors LLC lifted its holdings in shares of Grupo Financiero Galicia by 1,058.6% in the 3rd quarter. Claro Advisors LLC now owns 107,800 shares of the bank’s stock valued at $4,537,000 after buying an additional 98,496 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.