Grupo Financiero Galicia (NASDAQ:GGAL) Reaches New 52-Week High - Should You Buy?

Shares of Grupo Financiero Galicia S.A. (NASDAQ:GGAL - Get Free Report) hit a new 52-week high on Thursday . The company traded as high as $47.97 and last traded at $47.94, with a volume of 357953 shares. The stock had previously closed at $46.58.

Wall Street Analysts Forecast Growth

GGAL has been the topic of a number of research analyst reports. StockNews.com upgraded Grupo Financiero Galicia from a "hold" rating to a "buy" rating in a research report on Thursday, August 29th. Bank of America upgraded Grupo Financiero Galicia from an "underperform" rating to a "buy" rating and increased their target price for the stock from $28.00 to $36.00 in a research report on Thursday, August 8th. JPMorgan Chase & Co. upgraded Grupo Financiero Galicia from an "underweight" rating to an "overweight" rating and set a $54.00 target price on the stock in a research report on Friday, August 30th. Finally, Citigroup upgraded Grupo Financiero Galicia from a "neutral" rating to a "buy" rating and set a $54.00 target price on the stock in a research report on Wednesday, September 4th.

Grupo Financiero Galicia Stock Up 2.9 %

The company has a market capitalization of $7.07 billion, a price-to-earnings ratio of 6.65 and a beta of 1.93. The company has a 50 day simple moving average of $39.36 and a 200 day simple moving average of $33.80.

Grupo Financiero Galicia Increases Dividend

The company also recently declared a -- dividend, which was paid on Monday, August 26th. Shareholders of record on Monday, August 19th were paid a dividend of $0.7248 per share. The ex-dividend date was Monday, August 19th. This is a positive change 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 and hedge funds have recently added to or reduced their stakes in GGAL. Blue Trust Inc. purchased a new stake in Grupo Financiero Galicia during the 2nd quarter worth approximately $40,000. Ashton Thomas Private Wealth LLC acquired a new position in Grupo Financiero Galicia during the second quarter valued at $51,000. Headlands Technologies LLC acquired a new position in Grupo Financiero Galicia during the first quarter valued at $67,000. Banco Santander S.A. purchased a new position in Grupo Financiero Galicia in the second quarter valued at about $211,000. Finally, Truist Financial Corp bought a new stake in shares of Grupo Financiero Galicia during the 2nd quarter worth about $273,000.

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.