Grupo Financiero Galicia (NASDAQ:GGAL) Trading Up 5.7% – Still a Buy?

Grupo Financiero Galicia S.A. (NASDAQ:GGAL)’s share price shot up 5.7% during mid-day trading on Monday . The stock traded as high as $59.61 and last traded at $60.47. 209,721 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 1,105,618 shares. The stock had previously closed at $57.22.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on GGAL shares. Morgan Stanley upgraded shares of Grupo Financiero Galicia from an “underweight” rating to an “overweight” rating and set a $92.00 price target on the stock in a report on Monday, December 16th. StockNews.com cut Grupo Financiero Galicia from a “buy” rating to a “hold” rating in a research report on Thursday, November 14th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $59.00.

Grupo Financiero Galicia Stock Down 1.2 %

The company’s 50 day simple moving average is $64.82 and its 200-day simple moving average is $54.73. 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 firm has a market cap of $8.34 billion, a P/E ratio of 8.33 and a beta of 1.82.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hsbc Holdings PLC raised its stake in Grupo Financiero Galicia by 9,082.3% during the 4th quarter. Hsbc Holdings PLC now owns 11,492,127 shares of the bank’s stock valued at $721,935,000 after buying an additional 11,366,972 shares during the last quarter. Axiom Investors LLC DE increased its position in Grupo Financiero Galicia by 1,723.9% during the fourth quarter. Axiom Investors LLC DE now owns 1,520,960 shares of the bank’s stock valued at $94,786,000 after acquiring an additional 1,437,570 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in Grupo Financiero Galicia in the fourth quarter valued at about $78,711,000. Jennison Associates LLC purchased a new position in Grupo Financiero Galicia in the third quarter worth about $51,416,000. Finally, William Blair Investment Management LLC grew its stake in shares of Grupo Financiero Galicia by 778.9% during the 4th 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.