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

Grupo Financiero Galicia S.A. (NASDAQ:GGAL) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $70.30 and last traded at $68.50, with a volume of 146027 shares changing hands. The stock had previously closed at $67.76.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on GGAL shares. JPMorgan Chase & Co. upgraded 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 note on Friday, August 30th. Morgan Stanley upgraded shares of Grupo Financiero Galicia from an “underweight” rating to an “overweight” rating and set a $92.00 price objective for the company in a research note on Monday. Citigroup raised shares of Grupo Financiero Galicia from a “neutral” rating to a “buy” rating and set a $54.00 price objective on the stock in a report on Wednesday, September 4th. Finally, StockNews.com cut Grupo Financiero Galicia from a “buy” rating to a “hold” rating in a research report on Thursday, November 14th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $59.00.

Grupo Financiero Galicia Price Performance

The firm has a market cap of $9.34 billion, a PE ratio of 8.69 and a beta of 1.87. The stock has a 50 day simple moving average of $55.35 and a two-hundred day simple moving average of $42.16. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.11 and a current ratio of 1.11.

Hedge Funds Weigh In On Grupo Financiero Galicia

Several institutional investors have recently made changes to their positions in GGAL. Blue Trust Inc. acquired a new position in shares of Grupo Financiero Galicia in the second quarter worth about $40,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Grupo Financiero Galicia during the 2nd quarter worth approximately $51,000. Banco Santander S.A. purchased a new position in shares of Grupo Financiero Galicia during the 2nd quarter valued at approximately $211,000. NorthRock Partners LLC purchased a new stake in Grupo Financiero Galicia in the 3rd quarter worth $253,000. Finally, XTX Topco Ltd acquired a new position in Grupo Financiero Galicia during the third quarter worth $266,000.

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.