Grupo Financiero Galicia (NASDAQ:GGAL) Shares Up 6.3% – Time to Buy?

Shares of Grupo Financiero Galicia S.A. (NASDAQ:GGAL) traded up 6.3% during mid-day trading on Thursday . The stock traded as high as $53.08 and last traded at $52.92. 737,426 shares changed hands during mid-day trading, a decline of 28% from the average session volume of 1,019,658 shares. The stock had previously closed at $49.77.

Analysts Set New Price Targets

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

Grupo Financiero Galicia Stock Performance

The firm has a market capitalization of $7.78 billion, a price-to-earnings ratio of 6.90 and a beta of 1.93. The company has a 50 day moving average price of $42.70 and a two-hundred day moving average price of $35.36.

Grupo Financiero Galicia Increases Dividend

The business also recently disclosed a — dividend, which was paid on Monday, August 26th. Shareholders of record on Monday, August 19th were issued a dividend of $0.7248 per share. This is an increase 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 presently 32.73%.

Institutional Trading of Grupo Financiero Galicia

A number of institutional investors and hedge funds have recently modified their holdings of GGAL. Blue Trust Inc. acquired a new stake in Grupo Financiero Galicia in the 2nd quarter worth about $40,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Grupo Financiero Galicia during the second quarter worth approximately $51,000. Headlands Technologies LLC acquired a new position in Grupo Financiero Galicia in the 1st quarter valued at $67,000. Banco Santander S.A. purchased a new position in Grupo Financiero Galicia in the 2nd quarter valued at $211,000. Finally, X Square Capital LLC acquired a new stake in Grupo Financiero Galicia during the 3rd quarter worth $316,000.

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.