Grupo Financiero Galicia (NASDAQ:GGAL) Releases Quarterly Earnings Results, Beats Expectations By $0.10 EPS

Grupo Financiero Galicia (NASDAQ:GGAL) released its quarterly earnings data on Tuesday. The bank reported $1.08 EPS for the quarter, beating the consensus estimate of $0.98 by $0.10, FiscalAI reports. The business had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.70 billion.

Grupo Financiero Galicia Stock Performance

Shares of NASDAQ GGAL opened at $44.20 on Wednesday. The firm has a 50 day moving average of $48.99 and a 200 day moving average of $47.04. The company has a current ratio of 1.13, a quick ratio of 1.16 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $7.10 billion, a price-to-earnings ratio of 19.47, a price-to-earnings-growth ratio of 0.24 and a beta of 1.36. Grupo Financiero Galicia has a 12-month low of $25.89 and a 12-month high of $62.51.

Grupo Financiero Galicia Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 24th will be issued a $0.0531 dividend. The ex-dividend date of this dividend is Monday, August 24th. This represents a c) dividend on an annualized basis and a dividend yield of 1.4%. Grupo Financiero Galicia’s dividend payout ratio (DPR) is presently 25.55%.

Insider Buying and Selling

In other Grupo Financiero Galicia news, Director Silvestre Vila Moret purchased 224,000 shares of the firm’s stock in a transaction on Wednesday, July 8th. The shares were acquired at an average cost of $5.36 per share, for a total transaction of $1,200,640.00. Following the completion of the transaction, the director owned 3,000,000 shares of the company’s stock, valued at approximately $16,080,000. The trade was a 8.07% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have purchased 802,791 shares of company stock worth $4,253,109 over the last three months.

Hedge Funds Weigh In On Grupo Financiero Galicia

A number of institutional investors have recently bought and sold shares of GGAL. State of Wyoming bought a new stake in Grupo Financiero Galicia during the fourth quarter valued at about $74,000. Caitong International Asset Management Co. Ltd raised its stake in shares of Grupo Financiero Galicia by 4,942.9% in the third 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. Raymond James Financial Inc. bought a new position in shares of Grupo Financiero Galicia in the second quarter worth about $151,000. Cibc World Market Inc. purchased a new position in shares of Grupo Financiero Galicia during the 4th quarter valued at about $241,000. Finally, Commonwealth Equity Services LLC purchased a new position in shares of Grupo Financiero Galicia during the 4th quarter valued at about $274,000.

Analyst Upgrades and Downgrades

GGAL has been the topic of several research analyst reports. Zacks Research upgraded shares of Grupo Financiero Galicia from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 14th. Weiss Ratings lowered shares of Grupo Financiero Galicia from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, August 14th. Wall Street Zen upgraded shares of Grupo Financiero Galicia from a “sell” rating to a “hold” rating in a research report on Saturday, June 27th. Finally, JPMorgan Chase & Co. raised their target price on shares of Grupo Financiero Galicia from $72.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, June 25th. 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $68.33.

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.