Grupo Financiero Galicia (NASDAQ:GGAL) Stock Price Up 5% – Should You Buy?

Grupo Financiero Galicia S.A. (NASDAQ:GGAL)’s stock price traded up 5% on Wednesday . The company traded as high as $46.52 and last traded at $46.38. 1,176,534 shares were traded during trading, an increase of 15% from the average session volume of 1,023,161 shares. The stock had previously closed at $44.18.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on GGAL. Bank of America raised Grupo Financiero Galicia from an “underperform” rating to a “buy” rating and boosted their target price for the company from $28.00 to $36.00 in a research report on Thursday, August 8th. Citigroup raised Grupo Financiero Galicia from a “neutral” rating to a “buy” rating and set a $54.00 target price on the stock in a research note on Wednesday, September 4th. StockNews.com raised Grupo Financiero Galicia from a “hold” rating to a “buy” rating in a research report on Thursday, August 29th. Finally, JPMorgan Chase & Co. raised 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.

Grupo Financiero Galicia Price Performance

The firm has a market capitalization of $6.87 billion, a price-to-earnings ratio of 6.44 and a beta of 1.93. The firm has a 50 day moving average price of $38.61 and a 200-day moving average price of $33.61.

Grupo Financiero Galicia Increases Dividend

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

Institutional Investors Weigh In On Grupo Financiero Galicia

Several institutional investors have recently modified their holdings of GGAL. Beverly Hills Private Wealth LLC raised its stake in Grupo Financiero Galicia by 5.2% in the second quarter. Beverly Hills Private Wealth LLC now owns 9,212 shares of the bank’s stock valued at $282,000 after buying an additional 452 shares in the last quarter. Blue Trust Inc. acquired a new stake in shares of Grupo Financiero Galicia during the 2nd quarter worth about $40,000. Ashton Thomas Private Wealth LLC purchased a new stake in Grupo Financiero Galicia during the second quarter worth approximately $51,000. Headlands Technologies LLC purchased a new stake in Grupo Financiero Galicia during the first quarter worth approximately $67,000. Finally, Banco Santander S.A. acquired a new position in Grupo Financiero Galicia in the second quarter valued at approximately $211,000.

Grupo Financiero Galicia Company Profile

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.