Grupo Financiero Galicia (NASDAQ:GGAL) Sets New 1-Year High – Here’s What Happened

Shares of Grupo Financiero Galicia S.A. (NASDAQ:GGAL) hit a new 52-week high on Tuesday . The company traded as high as $70.30 and last traded at $68.50, with a volume of 146027 shares. The stock had previously closed at $67.76.

Analyst Upgrades and Downgrades

GGAL has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upgraded 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 price objective for the company in a research note on Wednesday, September 4th. StockNews.com downgraded Grupo Financiero Galicia from a “buy” rating to a “hold” rating in a research note on Thursday, November 14th. 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 equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Grupo Financiero Galicia has a consensus rating of “Moderate Buy” and an average target price of $59.00.

Grupo Financiero Galicia Trading Up 0.6 %

The company’s fifty day simple moving average is $54.52 and its 200-day simple moving average is $41.78. 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

Several hedge funds and other institutional investors have recently made changes to their positions in the company. INCA Investments LLC raised 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 purchasing an additional 24,354 shares during the last quarter. Jennison Associates LLC acquired a new stake in Grupo Financiero Galicia in the 3rd quarter valued at about $51,416,000. Ping Capital Management Inc. acquired a new position in shares of Grupo Financiero Galicia during the 2nd quarter worth approximately $23,611,000. BNP Paribas Financial Markets lifted its position in Grupo Financiero Galicia by 103.8% during the third quarter. BNP Paribas Financial Markets now owns 625,003 shares of the bank’s stock worth $26,306,000 after buying an additional 318,326 shares in the last quarter. Finally, PointState Capital LP increased its stake in shares of Grupo Financiero Galicia by 15.8% in the 3rd quarter. PointState Capital LP now owns 504,169 shares of the bank’s stock worth $21,220,000 after acquiring 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.