Grupo Financiero Galicia S.A. (NASDAQ:GGAL)’s share price reached a new 52-week high during trading on Friday . The stock traded as high as $49.20 and last traded at $49.22, with a volume of 374,137 shares traded. The stock had previously closed at $47.92.

Several equities analysts have commented on GGAL shares. Citigroup Inc. downgraded shares of Grupo Financiero Galicia from a “neutral” rating to a “sell” rating in a research note on Wednesday, June 7th. BidaskClub downgraded shares of Grupo Financiero Galicia from a “buy” rating to a “hold” rating in a research note on Friday, June 16th. Santander downgraded shares of Grupo Financiero Galicia from a “hold” rating to an “underperform” rating in a research note on Friday, September 8th. Finally, Zacks Investment Research upgraded shares of Grupo Financiero Galicia from a “hold” rating to a “strong-buy” rating and set a $54.00 price target for the company in a research note on Tuesday, June 6th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $44.50.

The company has a 50-day moving average of $42.84 and a 200-day moving average of $40.90. The firm has a market capitalization of $6.43 billion, a price-to-earnings ratio of 16.51 and a beta of 1.27.

Several hedge funds have recently modified their holdings of the company. Blockhouse Capital Management LP purchased a new position in shares of Grupo Financiero Galicia in the 2nd quarter valued at $3,927,000. Private Advisory Group LLC purchased a new position in shares of Grupo Financiero Galicia in the 2nd quarter valued at $266,000. Arrowstreet Capital Limited Partnership purchased a new position in shares of Grupo Financiero Galicia in the 2nd quarter valued at $5,582,000. Alpine Global Management LLC raised its stake in shares of Grupo Financiero Galicia by 34.7% in the 2nd quarter. Alpine Global Management LLC now owns 14,879 shares of the bank’s stock valued at $634,000 after acquiring an additional 3,833 shares during the period. Finally, PointState Capital LP raised its stake in shares of Grupo Financiero Galicia by 10.2% in the 2nd quarter. PointState Capital LP now owns 2,428,391 shares of the bank’s stock valued at $103,547,000 after acquiring an additional 225,500 shares during the period. 25.78% of the stock is currently owned by institutional investors and hedge funds.

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About Grupo Financiero Galicia

Grupo Financiero Galicia SA (Grupo Financiero Galicia) is a financial services holding company. The Company’s segments include Banking, Regional Credit Cards, CFA, Insurance and Other Grupo Galicia Businesses. Banco de Galicia y Buenos Aires SA (Banco Galicia) is a subsidiary of the Company. Its banking business segment represents Banco Galicia consolidated line by line with Banco Galicia Uruguay SA (Galicia Uruguay).

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