Grupo Financiero Galicia (NASDAQ:GGAL) Trading 6.5% Higher - Time to Buy?

Grupo Financiero Galicia S.A. (NASDAQ:GGAL - Get Free Report)'s stock price shot up 6.5% during 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.

Wall Street Analysts Forecast Growth

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

Grupo Financiero Galicia Stock Down 2.6%

The stock has a market capitalization of $8.06 billion, a P/E ratio of 8.05 and a beta of 1.72. The firm's 50-day simple moving average is $58.73 and its 200 day simple moving average is $60.50. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.11 and a current ratio of 1.11.

Grupo Financiero Galicia Cuts Dividend

The firm also recently declared a -- dividend, which was paid on Tuesday, June 10th. Shareholders of record on Tuesday, June 3rd were issued a dividend of $0.2631 per share. The ex-dividend date of this dividend was Tuesday, June 3rd. Grupo Financiero Galicia's payout ratio is 3.83%.

Institutional Trading of Grupo Financiero Galicia

Several institutional investors and hedge funds have recently bought and sold shares of the company. BTG Pactual Asset Management US LLC purchased a new position in shares of Grupo Financiero Galicia in the 4th quarter worth about $315,000. Nkcfo LLC acquired a new position in Grupo Financiero Galicia in the 4th quarter worth approximately $312,000. Fourth Sail Capital LP acquired a new position in Grupo Financiero Galicia in the 4th quarter worth about $27,369,000. William Blair Investment Management LLC boosted its holdings in Grupo Financiero Galicia by 778.9% in the 4th quarter. William Blair Investment Management LLC now owns 901,065 shares of the bank's stock worth $56,152,000 after buying an additional 798,542 shares during the last quarter. Finally, Jump Financial LLC grew its holdings in shares of Grupo Financiero Galicia by 15.2% during the fourth quarter. Jump Financial LLC now owns 186,400 shares of the bank's stock worth $11,616,000 after buying an additional 24,564 shares in the last quarter.

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.