Grupo Financiero Galicia (NASDAQ:GGAL) Trading Up 8.4% – Here’s What Happened

Grupo Financiero Galicia S.A. (NASDAQ:GGAL) rose 8.4% during mid-day trading on Thursday . The stock traded as high as $67.61 and last traded at $67.58. Approximately 678,918 shares changed hands during mid-day trading, a decline of 34% from the average daily volume of 1,034,339 shares. The stock had previously closed at $62.32.

Analyst Ratings Changes

A number of research analysts have recently weighed in on GGAL shares. StockNews.com cut shares of Grupo Financiero Galicia from a “buy” rating to a “hold” rating in a research note on Thursday, November 14th. Morgan Stanley upgraded Grupo Financiero Galicia from an “underweight” rating to an “overweight” rating and set a $92.00 target price on the stock in a report on Monday, December 16th. One investment 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 a consensus rating of “Moderate Buy” and a consensus target price of $59.00.

Grupo Financiero Galicia Price Performance

The company’s 50 day simple moving average is $58.76 and its 200 day simple moving average is $44.68. 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 stock has a market capitalization of $10.34 billion, a PE ratio of 9.62 and a beta of 1.87.

Institutional Trading of Grupo Financiero Galicia

A number of hedge funds have recently added to or reduced their stakes in GGAL. Beverly Hills Private Wealth LLC lifted its holdings in shares of Grupo Financiero Galicia by 5.2% during the 2nd quarter. Beverly Hills Private Wealth LLC now owns 9,212 shares of the bank’s stock worth $282,000 after acquiring an additional 452 shares during the period. Banco Santander S.A. raised its stake in Grupo Financiero Galicia by 12.6% during the third quarter. Banco Santander S.A. now owns 7,783 shares of the bank’s stock worth $328,000 after purchasing an additional 872 shares during the period. Diversify Wealth Management LLC raised its stake in Grupo Financiero Galicia by 4.5% during the third quarter. Diversify Wealth Management LLC now owns 27,819 shares of the bank’s stock worth $1,171,000 after purchasing an additional 1,202 shares during the period. State Street Corp boosted its holdings in shares of Grupo Financiero Galicia by 1.5% in the 3rd 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 during the last quarter. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of Grupo Financiero Galicia during the 2nd quarter valued at $51,000.

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.