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

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

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on GGAL. 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 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 price objective on the stock in a research note 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 upped their price objective for the stock from $28.00 to $36.00 in a research report on Thursday, August 8th.

Grupo Financiero Galicia Price Performance

The stock has a market capitalization of $7.95 billion, a price-to-earnings ratio of 7.47 and a beta of 1.93. The stock has a 50 day moving average price of $43.42 and a 200-day moving average price of $35.66.

Grupo Financiero Galicia Increases Dividend

The firm also recently declared a — dividend, which was paid on Monday, August 26th. Stockholders of record on Monday, August 19th were paid a $0.7248 dividend. This is an increase from Grupo Financiero Galicia’s previous — dividend of $0.14. The ex-dividend date of this dividend was Monday, August 19th. Grupo Financiero Galicia’s dividend payout ratio (DPR) is currently 32.73%.

Institutional Trading of Grupo Financiero Galicia

Hedge funds have recently bought and sold shares of the business. Blue Trust Inc. purchased a new position in Grupo Financiero Galicia during the second quarter worth approximately $40,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Grupo Financiero Galicia in the second quarter valued at about $51,000. Headlands Technologies LLC acquired a new stake in Grupo Financiero Galicia during the first quarter worth about $67,000. Banco Santander S.A. purchased a new position in Grupo Financiero Galicia during the second quarter worth about $211,000. Finally, Claro Advisors LLC acquired a new position in Grupo Financiero Galicia in the 1st quarter valued at about $235,000.

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.