Grupo Financiero Galicia (NASDAQ:GGAL) Posts Quarterly Earnings Results, Beats Estimates By $0.24 EPS

Grupo Financiero Galicia (NASDAQ:GGAL) announced its earnings results on Tuesday. The bank reported $1.14 EPS for the quarter, topping the consensus estimate of $0.90 by $0.24, Zacks reports. The business had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.70 billion.

Grupo Financiero Galicia Price Performance

Shares of NASDAQ:GGAL opened at $42.91 on Friday. The company’s 50 day simple moving average is $48.48 and its 200 day simple moving average is $46.97. The stock has a market capitalization of $6.89 billion, a price-to-earnings ratio of 18.90, a price-to-earnings-growth ratio of 0.24 and a beta of 1.36. Grupo Financiero Galicia has a 1 year low of $25.89 and a 1 year high of $62.51.

Grupo Financiero Galicia Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 24th will be given a dividend of $0.0531 per share. The ex-dividend date is Monday, August 24th. This represents a c) annualized dividend and a dividend yield of 1.5%. Grupo Financiero Galicia’s dividend payout ratio (DPR) is currently 25.55%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on GGAL shares. Weiss Ratings downgraded Grupo Financiero Galicia from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, August 14th. JPMorgan Chase & Co. lifted their price objective on Grupo Financiero Galicia from $72.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, June 25th. Zacks Research upgraded Grupo Financiero Galicia from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 14th. Finally, Wall Street Zen raised Grupo Financiero Galicia from a “sell” rating to a “hold” rating in a report on Saturday, June 27th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $68.33.

Insiders Place Their Bets

In other Grupo Financiero Galicia news, Director Silvestre Vila Moret bought 224,000 shares of Grupo Financiero Galicia stock in a transaction on Wednesday, July 8th. The shares were purchased at an average price of $5.36 per share, with a total value of $1,200,640.00. Following the acquisition, the director owned 3,000,000 shares in the company, valued at $16,080,000. This trade represents a 8.07% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders acquired 802,791 shares of company stock worth $4,253,109 in the last three months.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Cetera Investment Advisers lifted its holdings in shares of Grupo Financiero Galicia by 1.9% during the second quarter. Cetera Investment Advisers now owns 11,824 shares of the bank’s stock worth $596,000 after purchasing an additional 226 shares during the period. Geode Capital Management LLC increased its holdings in Grupo Financiero Galicia by 0.7% in the second quarter. Geode Capital Management LLC now owns 54,525 shares of the bank’s stock valued at $2,748,000 after purchasing an additional 362 shares during the period. Lazard Asset Management LLC raised its position in Grupo Financiero Galicia by 1.0% during the 3rd quarter. Lazard Asset Management LLC now owns 65,810 shares of the bank’s stock worth $1,814,000 after purchasing an additional 677 shares during the last quarter. State of Wyoming bought a new position in Grupo Financiero Galicia during the 4th quarter worth $74,000. Finally, Caitong International Asset Management Co. Ltd lifted its holdings in Grupo Financiero Galicia by 4,942.9% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 2,118 shares of the bank’s stock worth $58,000 after buying an additional 2,076 shares during the period.

About Grupo Financiero Galicia

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.