Grupo Financiero Galicia S.A. (NASDAQ:GGAL) Announces Dividend of $0.62

Grupo Financiero Galicia S.A. (NASDAQ:GGAL) declared a dividend on Thursday, April 30th, NASDAQ Dividends reports. Stockholders of record on Monday, May 11th will be given a dividend of 0.6229 per share by the bank on Friday, May 8th. The ex-dividend date is Monday, May 11th.

Grupo Financiero Galicia has raised its dividend by an average of 1.0%annually over the last three years. Grupo Financiero Galicia has a payout ratio of 82.7% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect Grupo Financiero Galicia to earn $6.43 per share next year, which means the company may not be able to cover its $6.88 annual dividend with an expected future payout ratio of 107.0%.

Grupo Financiero Galicia Price Performance

Grupo Financiero Galicia stock opened at $41.96 on Friday. The business has a 50-day moving average of $44.86 and a 200-day moving average of $49.00. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $6.74 billion, a P/E ratio of 21.19 and a beta of 1.27. Grupo Financiero Galicia has a 1 year low of $25.89 and a 1 year high of $65.48.

Grupo Financiero Galicia (NASDAQ:GGAL) last released its earnings results on Saturday, February 14th. The bank reported ($0.36) earnings per share for the quarter. Grupo Financiero Galicia had a net margin of 7.13% and a return on equity of 18.96%. The business had revenue of $666.89 million during the quarter. On average, equities analysts anticipate that Grupo Financiero Galicia will post 3.66 EPS for the current year.

Institutional Investors Weigh In On Grupo Financiero Galicia

Institutional investors have recently made changes to their positions in the company. Cetera Investment Advisers increased its stake 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 position in Grupo Financiero Galicia by 0.7% during the 2nd quarter. Geode Capital Management LLC now owns 54,525 shares of the bank’s stock worth $2,748,000 after buying an additional 362 shares during the period. Deltec Asset Management LLC lifted its holdings in shares of Grupo Financiero Galicia by 1.6% during the first quarter. Deltec Asset Management LLC now owns 25,900 shares of the bank’s stock worth $1,210,000 after buying an additional 400 shares in the last quarter. Hantz Financial Services Inc. boosted its position in shares of Grupo Financiero Galicia by 131.6% in the third quarter. Hantz Financial Services Inc. now owns 938 shares of the bank’s stock valued at $26,000 after acquiring an additional 533 shares during the period. Finally, Lazard Asset Management LLC grew its stake in shares of Grupo Financiero Galicia by 1.0% in the third quarter. Lazard Asset Management LLC now owns 65,810 shares of the bank’s stock valued at $1,814,000 after acquiring an additional 677 shares in the last quarter.

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.