Grupo Financiero Galicia S.A. (NASDAQ:GGAL) Increases Dividend to $0.15 Per Share

Grupo Financiero Galicia S.A. (NASDAQ:GGAL) declared a monthly dividend on Wednesday, January 21st. Stockholders of record on Monday, February 2nd will be given a dividend of 0.1455 per share by the bank on Monday, February 9th. This represents a c) annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Monday, February 2nd. This is a 2.3% increase from Grupo Financiero Galicia’s previous monthly dividend of $0.14.

Grupo Financiero Galicia has raised its dividend payment by an average of 0.5%annually over the last three years. Grupo Financiero Galicia has a dividend payout ratio of 20.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Grupo Financiero Galicia to earn $7.26 per share next year, which means the company should continue to be able to cover its $1.70 annual dividend with an expected future payout ratio of 23.4%.

Grupo Financiero Galicia Stock Down 0.5%

Grupo Financiero Galicia stock traded down $0.29 during trading on Thursday, reaching $53.77. The stock had a trading volume of 809,975 shares, compared to its average volume of 1,036,632. Grupo Financiero Galicia has a 52-week low of $25.89 and a 52-week high of $71.23. The stock has a market cap of $7.93 billion, a PE ratio of 27.16 and a beta of 1.47. The business has a 50 day moving average price of $52.06 and a 200 day moving average price of $45.70.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Grupo Financiero Galicia from a “sell” rating to a “hold” rating in a research note on Sunday. Weiss Ratings reissued a “sell (d+)” rating on shares of Grupo Financiero Galicia in a research note on Monday, December 29th. Zacks Research raised Grupo Financiero Galicia from a “strong sell” rating to a “hold” rating in a report on Monday, December 29th. The Goldman Sachs Group raised Grupo Financiero Galicia to a “hold” rating in a report on Monday, November 10th. Finally, HSBC assumed coverage on Grupo Financiero Galicia in a report on Wednesday, October 1st. They issued a “buy” rating and a $60.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $66.25.

Grupo Financiero Galicia Company Profile

Grupo Financiero Galicia is a diversified financial services holding company headquartered in Buenos Aires, Argentina. As one of the country’s largest private-sector financial institutions, the company provides a comprehensive suite of banking, insurance and investment products to individual, small-to-medium enterprise (SME) and corporate clients. Its operations span retail and commercial banking, asset management, leasing, factoring and pension fund administration.

The core banking segment offers deposit and lending services, credit and debit cards, payment solutions and digital banking platforms.