Grupo Financiero Galicia (NASDAQ:GGAL) Reaches New 12-Month High – Here’s Why

Grupo Financiero Galicia S.A. (NASDAQ:GGAL)’s share price hit a new 52-week high on Monday . The stock traded as high as $59.88 and last traded at $59.86, with a volume of 880659 shares. The stock had previously closed at $56.44.

Analyst Ratings Changes

Several analysts recently weighed in 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 price objective on the stock in a research note on Friday, August 30th. 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 research report on Thursday, August 8th. Citigroup raised shares of Grupo Financiero Galicia from a “neutral” rating to a “buy” rating and set a $54.00 price target on the stock in a research report on Wednesday, September 4th. Finally, StockNews.com cut shares of Grupo Financiero Galicia from a “buy” rating to a “hold” rating in a research report on Thursday, November 14th.

Grupo Financiero Galicia Trading Down 3.4 %

The stock’s 50-day moving average price is $51.39 and its 200-day moving average price is $40.12. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.10.

Hedge Funds Weigh In On Grupo Financiero Galicia

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Banco Santander S.A. acquired a new stake in shares of Grupo Financiero Galicia in the 2nd quarter worth about $211,000. William Blair Investment Management LLC bought a new position in Grupo Financiero Galicia in the 2nd quarter worth approximately $8,573,000. INCA Investments LLC grew its stake in Grupo Financiero Galicia by 1.8% in the 3rd quarter. INCA Investments LLC now owns 1,373,576 shares of the bank’s stock valued at $57,814,000 after buying an additional 24,354 shares in the last quarter. Turim 21 Investimentos Ltda. purchased a new position in shares of Grupo Financiero Galicia during the 2nd quarter valued at $453,000. Finally, B. Riley Wealth Advisors Inc. purchased a new position in Grupo Financiero Galicia in the second quarter worth $582,000.

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.