Grupo Financiero Galicia (NASDAQ:GGAL) Shares Up 3.6%

Grupo Financiero Galicia S.A. (NASDAQ:GGAL) shares shot up 3.6% on Thursday . The company traded as high as $43.55 and last traded at $43.46. 405,212 shares traded hands during trading, a decline of 61% from the average session volume of 1,026,312 shares. The stock had previously closed at $41.94.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on GGAL. JPMorgan Chase & Co. upgraded shares of Grupo Financiero Galicia from an “underweight” rating to an “overweight” rating and set a $54.00 price objective for the company in a report on Friday, August 30th. Citigroup upgraded shares of Grupo Financiero Galicia from a “neutral” rating to a “buy” rating and set a $54.00 price target for the company in a report on Wednesday, September 4th. Bank of America upgraded shares of Grupo Financiero Galicia from an “underperform” rating to a “buy” rating and boosted their price target for the company from $28.00 to $36.00 in a report on Thursday, August 8th. Finally, StockNews.com upgraded shares of Grupo Financiero Galicia from a “hold” rating to a “buy” rating in a report on Thursday, August 29th.

Grupo Financiero Galicia Stock Performance

The firm has a market cap of $6.40 billion, a P/E ratio of 5.99 and a beta of 1.93. The firm’s fifty day moving average price is $37.37 and its 200 day moving average price is $33.05.

Grupo Financiero Galicia Increases Dividend

The company also recently disclosed a — dividend, which was paid on Monday, August 26th. Investors 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 payout ratio is 32.73%.

Institutional Trading of Grupo Financiero Galicia

Several hedge funds and other institutional investors have recently made changes to their positions in GGAL. Banco Santander S.A. purchased a new position in Grupo Financiero Galicia during the 2nd quarter worth $211,000. Virtu Financial LLC grew its stake in shares of Grupo Financiero Galicia by 78.5% during the fourth quarter. Virtu Financial LLC now owns 37,821 shares of the bank’s stock worth $653,000 after acquiring an additional 16,628 shares during the last quarter. William Blair Investment Management LLC acquired a new position in shares of Grupo Financiero Galicia during the second quarter valued at about $8,573,000. Headlands Technologies LLC purchased a new position in shares of Grupo Financiero Galicia in the 1st quarter valued at approximately $67,000. Finally, Turim 21 Investimentos Ltda. purchased a new position in shares of Grupo Financiero Galicia in the 2nd quarter valued at approximately $453,000.

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.