Grupo Financiero Galicia (NASDAQ:GGAL) Reaches New 12-Month High – Should You Buy?

Shares of Grupo Financiero Galicia S.A. (NASDAQ:GGAL) hit a new 52-week high during trading on Monday . The stock traded as high as $59.88 and last traded at $59.86, with a volume of 880659 shares traded. The stock had previously closed at $56.44.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Bank of America raised shares of Grupo Financiero Galicia from an “underperform” rating to a “buy” rating and increased their price target for the stock from $28.00 to $36.00 in a research report on Thursday, August 8th. Citigroup raised shares of Grupo Financiero Galicia from a “neutral” rating to a “buy” rating and set a $54.00 price target on the stock in a research report on Wednesday, September 4th. StockNews.com cut shares of Grupo Financiero Galicia from a “buy” rating to a “hold” rating in a research report on Thursday, November 14th. 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 Stock Up 4.9 %

The company has a debt-to-equity ratio of 0.10, a current ratio of 1.11 and a quick ratio of 1.01. The stock’s fifty day simple moving average is $50.84 and its 200-day simple moving average is $39.81. The stock has a market cap of $8.73 billion, a P/E ratio of 8.75 and a beta of 1.90.

Hedge Funds Weigh In On Grupo Financiero Galicia

A number of large investors have recently bought and sold shares of the business. Jennison Associates LLC acquired a new stake in shares of Grupo Financiero Galicia in the third quarter valued at approximately $51,416,000. Ping Capital Management Inc. bought a new stake in Grupo Financiero Galicia during the second quarter worth approximately $23,611,000. BNP Paribas Financial Markets raised its holdings 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 purchasing an additional 318,326 shares in the last quarter. William Blair Investment Management LLC bought a new stake in Grupo Financiero Galicia during the second quarter worth approximately $8,573,000. Finally, Duquesne Family Office LLC raised its holdings in Grupo Financiero Galicia by 47.8% during the second quarter. Duquesne Family Office LLC now owns 475,763 shares of the bank’s stock worth $14,539,000 after purchasing an additional 153,900 shares in 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.