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

Grupo Financiero Galicia S.A. (NASDAQ:GGAL - Get Free Report)'s share price 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 were traded during trading, a decline of 34% from the average daily volume of 1,034,339 shares. The stock had previously closed at $62.32.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on GGAL. StockNews.com lowered shares of Grupo Financiero Galicia from a "buy" rating to a "hold" rating in a research report on Thursday, November 14th. Morgan Stanley raised shares of Grupo Financiero Galicia from an "underweight" rating to an "overweight" rating and set a $92.00 price objective for the company in a report on Monday, December 16th. Finally, 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 report on Wednesday, September 4th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $59.00.

Grupo Financiero Galicia Stock Up 10.4 %

The firm has a market cap of $10.15 billion, a P/E ratio of 9.44 and a beta of 1.87. The company's 50-day simple moving average is $58.43 and its 200 day simple moving average is $44.43. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.11 and a quick ratio of 1.11.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Beverly Hills Private Wealth LLC boosted its holdings in shares of Grupo Financiero Galicia by 5.2% in the 2nd quarter. Beverly Hills Private Wealth LLC now owns 9,212 shares of the bank's stock worth $282,000 after purchasing an additional 452 shares during the period. Banco Santander S.A. lifted its position in Grupo Financiero Galicia by 12.6% in the third quarter. Banco Santander S.A. now owns 7,783 shares of the bank's stock worth $328,000 after buying an additional 872 shares during the last quarter. Diversify Wealth Management LLC boosted 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 buying an additional 1,202 shares during the period. State Street Corp increased its position in Grupo Financiero Galicia by 1.5% during the third quarter. State Street Corp now owns 84,378 shares of the bank's stock valued at $3,551,000 after acquiring 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 in the second 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.