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

Shares of Grupo Financiero Galicia S.A. (NASDAQ:GGAL) hit a new 52-week high on Wednesday . The stock 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.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. 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. 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. StockNews.com upgraded shares of Grupo Financiero Galicia from a “hold” rating to a “buy” rating in a research note on Thursday, August 29th. Finally, Bank of America raised shares of Grupo Financiero Galicia from an “underperform” rating to a “buy” rating and upped their price target for the company from $28.00 to $36.00 in a report on Thursday, August 8th.

Grupo Financiero Galicia Price Performance

The stock has a market capitalization of $7.43 billion, a price-to-earnings ratio of 6.89 and a beta of 1.93. The firm’s fifty day moving average is $40.71 and its 200-day moving average is $34.42.

Grupo Financiero Galicia Increases Dividend

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

Institutional Trading of Grupo Financiero Galicia

Institutional investors and hedge funds have recently modified their holdings of the business. Blue Trust Inc. acquired a new stake in shares of Grupo Financiero Galicia during the second quarter worth $40,000. Ashton Thomas Private Wealth LLC bought a new position in Grupo Financiero Galicia in the 2nd quarter valued at about $51,000. Headlands Technologies LLC bought a new position in Grupo Financiero Galicia in the 1st quarter valued at about $67,000. Banco Santander S.A. bought a new position in Grupo Financiero Galicia in the 2nd quarter valued at about $211,000. Finally, Truist Financial Corp bought a new position in Grupo Financiero Galicia in the 2nd quarter valued at about $273,000.

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.