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

Grupo Financiero Galicia S.A. (NASDAQ:GGAL) announced a dividend on Thursday, April 30th, NASDAQ Dividends reports. Shareholders of record on Monday, May 11th will be paid 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 dividend payout ratio of 82.7% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities 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 Trading Down 3.0%

NASDAQ:GGAL opened at $41.96 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.16 and a quick ratio of 1.16. Grupo Financiero Galicia has a fifty-two week low of $25.89 and a fifty-two week high of $65.48. The stock’s 50-day moving average is $44.86 and its two-hundred day moving average is $49.00. The stock has a market cap of $6.74 billion, a PE ratio of 21.19 and a beta of 1.27.

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

Institutional Investors Weigh In On Grupo Financiero Galicia

Hedge funds have recently modified their holdings of the business. Rockefeller Capital Management L.P. acquired a new stake in shares of Grupo Financiero Galicia during the fourth quarter worth about $39,000. Hantz Financial Services Inc. grew its holdings in shares of Grupo Financiero Galicia by 131.6% during the third quarter. Hantz Financial Services Inc. now owns 938 shares of the bank’s stock worth $26,000 after buying an additional 533 shares in the last quarter. State of Wyoming bought a new position in shares of Grupo Financiero Galicia during the fourth quarter worth about $74,000. Leonteq Securities AG grew its holdings in shares of Grupo Financiero Galicia by 563.2% during the first quarter. Leonteq Securities AG now owns 2,036 shares of the bank’s stock worth $95,000 after buying an additional 1,729 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its holdings in shares of Grupo Financiero Galicia by 4,942.9% during 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 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.