Grupo Financiero Galicia (NASDAQ:GGAL) Sets New 1-Year High - Still a Buy?

Grupo Financiero Galicia S.A. (NASDAQ:GGAL - Get Free Report)'s stock price reached a new 52-week high on Monday . The stock traded as high as $54.73 and last traded at $54.63, with a volume of 12921 shares trading hands. The stock had previously closed at $53.89.

Analysts Set New Price Targets

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

Grupo Financiero Galicia Stock Performance

The stock has a 50 day simple moving average of $43.42 and a 200-day simple moving average of $35.76.

Grupo Financiero Galicia Increases Dividend

The company also recently disclosed a -- dividend, which was paid on Monday, August 26th. Stockholders of record on Monday, August 19th were issued a dividend of $0.7248 per share. This is a boost from Grupo Financiero Galicia's previous -- dividend of $0.14. The ex-dividend date of this dividend was Monday, August 19th.

Hedge Funds Weigh In On Grupo Financiero Galicia

Several large investors have recently modified their holdings of the stock. Blue Trust Inc. bought a new position in shares of Grupo Financiero Galicia during the 2nd quarter worth $40,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Grupo Financiero Galicia in the second quarter valued at about $51,000. Headlands Technologies LLC acquired a new stake in Grupo Financiero Galicia during the first quarter worth about $67,000. Banco Santander S.A. acquired a new stake in Grupo Financiero Galicia during the second quarter worth about $211,000. Finally, Claro Advisors LLC acquired a new stake in Grupo Financiero Galicia during the first quarter worth about $235,000.

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.