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

Grupo Financiero Galicia (NASDAQ:GGAL) issued its earnings results on Tuesday. The bank reported $0.08 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.10), Zacks reports. Grupo Financiero Galicia had a net margin of 8.89% and a return on equity of 22.73%.

Grupo Financiero Galicia Stock Up 4.5%

Shares of NASDAQ GGAL traded up $2.09 during trading on Tuesday, hitting $48.89. The stock had a trading volume of 1,924,641 shares, compared to its average volume of 1,893,765. The firm has a fifty day moving average of $40.48 and a two-hundred day moving average of $46.85. The company has a market capitalization of $7.21 billion, a PE ratio of 25.73 and a beta of 1.58. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.16 and a quick ratio of 1.16. Grupo Financiero Galicia has a 12 month low of $25.89 and a 12 month high of $74.00.

Grupo Financiero Galicia Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, December 8th. Shareholders of record on Monday, December 1st will be issued a dividend of $0.1406 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a c) dividend on an annualized basis and a yield of 3.5%. This is a positive change from Grupo Financiero Galicia’s previous monthly dividend of $0.13. Grupo Financiero Galicia’s payout ratio is presently 88.42%.

Institutional Investors Weigh In On Grupo Financiero Galicia

A number of institutional investors have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Grupo Financiero Galicia by 52.2% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,937,465 shares of the bank’s stock worth $97,629,000 after buying an additional 664,533 shares in the last quarter. UBS Group AG increased its position in shares of Grupo Financiero Galicia by 157.1% during the third quarter. UBS Group AG now owns 317,330 shares of the bank’s stock valued at $8,746,000 after acquiring an additional 193,924 shares during the last quarter. Qube Research & Technologies Ltd bought a new stake in Grupo Financiero Galicia during the third quarter worth $6,960,000. Amundi bought a new stake in Grupo Financiero Galicia during the third quarter worth $3,614,000. Finally, Brevan Howard Capital Management LP increased its position in shares of Grupo Financiero Galicia by 83.1% during the 2nd quarter. Brevan Howard Capital Management LP now owns 125,280 shares of the bank’s stock valued at $6,560,000 after purchasing an additional 56,845 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on GGAL. Zacks Research lowered Grupo Financiero Galicia from a “hold” rating to a “strong sell” rating in a report on Thursday, August 28th. UBS Group began coverage on Grupo Financiero Galicia in a report on Wednesday, November 19th. They issued a “hold” rating and a $60.00 target price on the stock. Wall Street Zen downgraded shares of Grupo Financiero Galicia from a “hold” rating to a “sell” rating in a research report on Friday, September 26th. HSBC started coverage on shares of Grupo Financiero Galicia in a report on Wednesday, October 1st. They set a “buy” rating and a $60.00 price objective on the stock. Finally, JPMorgan Chase & Co. upgraded shares of Grupo Financiero Galicia from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $46.00 to $75.00 in a report on Tuesday, October 28th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $71.40.

Grupo Financiero Galicia Company Profile

Grupo Financiero Galicia SA, a financial service holding company, provides various financial products and services to individuals and companies in Argentina. The company operates through Banks, NaranjaX, Insurance, and Other Businesses segments. It also offers personal loans; express and mortgage loans; pledge and credit card loans; credit and debit cards; and online banking services, as well as savings, deposits, and checking accounts related services.