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

Grupo Financiero Galicia S.A. (NASDAQ:GGAL)’s stock price hit a new 52-week high on Tuesday . The stock traded as high as $51.08 and last traded at $50.82, with a volume of 70397 shares changing hands. The stock had previously closed at $50.63.

Wall Street Analyst Weigh In

GGAL has been the topic of a number of analyst reports. StockNews.com upgraded shares of Grupo Financiero Galicia from a “hold” rating to a “buy” rating in a research note on Thursday, August 29th. JPMorgan Chase & Co. upgraded shares of Grupo Financiero Galicia from an “underweight” rating to an “overweight” rating and set a $54.00 target price on the stock in a research note 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 target for the company in a research report on Wednesday, September 4th. Finally, Bank of America raised Grupo Financiero Galicia from an “underperform” rating to a “buy” rating and upped their price objective for the company from $28.00 to $36.00 in a research report on Thursday, August 8th.

Grupo Financiero Galicia Stock Up 0.7 %

The company has a market cap of $7.52 billion, a PE ratio of 7.02 and a beta of 1.93. The company’s fifty day moving average is $42.09 and its 200-day moving average is $35.10.

Grupo Financiero Galicia Increases Dividend

The company also recently announced a — dividend, which was paid on Monday, August 26th. Shareholders of record on Monday, August 19th were given a $0.7248 dividend. This is a boost 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 presently 32.73%.

Institutional Trading of Grupo Financiero Galicia

Large investors have recently added to or reduced their stakes in the business. Blue Trust Inc. purchased a new stake in Grupo Financiero Galicia in the 2nd quarter worth approximately $40,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Grupo Financiero Galicia in the second quarter worth approximately $51,000. Headlands Technologies LLC purchased a new stake in shares of Grupo Financiero Galicia in the first quarter worth $67,000. Banco Santander S.A. bought a new stake in shares of Grupo Financiero Galicia during the 2nd quarter valued at $211,000. Finally, Truist Financial Corp purchased a new position in shares of Grupo Financiero Galicia during the 2nd quarter valued at $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.