Grupo Financiero Galicia (NASDAQ:GGAL) Sees Strong Trading Volume – Here’s What Happened

Grupo Financiero Galicia S.A. (NASDAQ:GGAL) shares saw strong trading volume on Monday . 888,280 shares changed hands during mid-day trading, a decline of 14% from the previous session’s volume of 1,027,839 shares.The stock last traded at $67.56 and had previously closed at $62.32.

Analyst Upgrades and Downgrades

Several analysts have 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 price target on the stock in a research report on Friday, August 30th. StockNews.com downgraded Grupo Financiero Galicia from a “buy” rating to a “hold” rating in a research note on Thursday, November 14th. 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 report on Wednesday, September 4th. Finally, Morgan Stanley raised Grupo Financiero Galicia from an “underweight” rating to an “overweight” rating and set a $92.00 price target for the company in a report on Monday. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $59.00.

Grupo Financiero Galicia Stock Up 1.4 %

The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $10.13 billion, a P/E ratio of 9.47 and a beta of 1.87. The stock has a 50 day moving average price of $54.52 and a 200 day moving average price of $41.78.

Institutional Investors Weigh In On Grupo Financiero Galicia

A number of institutional investors and hedge funds have recently made changes to their positions in GGAL. Dorsey Wright & Associates raised its stake in Grupo Financiero Galicia by 11.2% in the 3rd quarter. Dorsey Wright & Associates now owns 127,179 shares of the bank’s stock valued at $5,353,000 after acquiring an additional 12,815 shares during the period. XTX Topco Ltd purchased a new stake in Grupo Financiero Galicia in the 3rd quarter worth approximately $266,000. State Street Corp boosted its position in shares of Grupo Financiero Galicia by 1.5% during the third quarter. State Street Corp now owns 84,378 shares of the bank’s stock valued at $3,551,000 after purchasing an additional 1,260 shares in the last quarter. Quadrature Capital Ltd bought a new position in shares of Grupo Financiero Galicia during the third quarter valued at approximately $278,000. Finally, PointState Capital LP grew its position in Grupo Financiero Galicia by 15.8% during the 3rd quarter. PointState Capital LP now owns 504,169 shares of the bank’s stock valued at $21,220,000 after purchasing an additional 68,658 shares during the last quarter.

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.