Grupo Financiero Galicia (NASDAQ:GGAL) Trading Up 6.5% – Time to Buy?

Shares of Grupo Financiero Galicia S.A. (NASDAQ:GGAL) shot up 6.5% during mid-day trading on Tuesday . The stock traded as high as $57.76 and last traded at $57.55. 771,309 shares traded hands during mid-day trading, a decline of 30% from the average session volume of 1,109,136 shares. The stock had previously closed at $54.02.

Analyst Ratings Changes

A number of analysts recently commented on the company. Wall Street Zen lowered Grupo Financiero Galicia from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd. Itau BBA Securities started coverage on Grupo Financiero Galicia in a research report on Tuesday, May 20th. They set an “outperform” rating and a $70.00 target price for the company. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $61.20.

Grupo Financiero Galicia Stock Up 6.3%

The stock’s 50-day moving average price is $58.28 and its two-hundred day moving average price is $60.55. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $8.47 billion, a P/E ratio of 8.49 and a beta of 1.72.

Grupo Financiero Galicia Cuts Dividend

The company also recently disclosed a — dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Tuesday, June 3rd will be issued a dividend of $0.2631 per share. The ex-dividend date is Tuesday, June 3rd. Grupo Financiero Galicia’s dividend payout ratio (DPR) is 3.83%.

Institutional Trading of Grupo Financiero Galicia

Hedge funds have recently made changes to their positions in the company. BTG Pactual Asset Management US LLC bought a new position in shares of Grupo Financiero Galicia during the 4th quarter worth $315,000. Nkcfo LLC bought a new position in Grupo Financiero Galicia during the fourth quarter worth about $312,000. Activest Wealth Management increased its stake in shares of Grupo Financiero Galicia by 278.4% in the fourth quarter. Activest Wealth Management now owns 36,345 shares of the bank’s stock worth $2,265,000 after purchasing an additional 26,741 shares in the last quarter. Fourth Sail Capital LP purchased a new position in shares of Grupo Financiero Galicia in the fourth quarter worth about $27,369,000. Finally, William Blair Investment Management LLC raised its position in shares of Grupo Financiero Galicia by 778.9% in the fourth quarter. William Blair Investment Management LLC now owns 901,065 shares of the bank’s stock valued at $56,152,000 after purchasing an additional 798,542 shares during the period.

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.