Grupo Financiero Galicia S.A. (NASDAQ:GGAL) Announces Dividend Increase – $0.14 Per Share

Grupo Financiero Galicia S.A. (NASDAQ:GGAL) announced a monthly dividend on Wednesday, December 17th. Stockholders of record on Monday, December 29th will be given a dividend of 0.1423 per share by the bank on Monday, January 5th. This represents a c) annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Monday, December 29th. This is a 1.2% increase from Grupo Financiero Galicia’s previous monthly dividend of $0.14.

Grupo Financiero Galicia has raised its dividend by an average of 0.5%annually over the last three years. Grupo Financiero Galicia has a dividend payout ratio of 20.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Grupo Financiero Galicia to earn $7.26 per share next year, which means the company should continue to be able to cover its $1.68 annual dividend with an expected future payout ratio of 23.1%.

Grupo Financiero Galicia Stock Up 7.4%

Shares of GGAL stock traded up $3.71 during trading hours on Thursday, hitting $53.54. 657,508 shares of the company were exchanged, compared to its average volume of 1,857,536. The stock has a market capitalization of $7.90 billion, a price-to-earnings ratio of 27.08 and a beta of 1.45. The business’s 50-day simple moving average is $47.76 and its two-hundred day simple moving average is $45.64. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.16. Grupo Financiero Galicia has a one year low of $25.89 and a one year high of $74.00.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. HSBC assumed coverage on shares of Grupo Financiero Galicia in a research report on Wednesday, October 1st. They issued a “buy” rating and a $60.00 price target on the stock. Citigroup upgraded Grupo Financiero Galicia from a “neutral” rating to a “buy” rating in a research note on Monday, November 3rd. Hsbc Global Res raised Grupo Financiero Galicia to a “strong-buy” rating in a report on Wednesday, October 1st. Weiss Ratings reissued a “sell (d+)” rating on shares of Grupo Financiero Galicia in a report on Monday. Finally, JPMorgan Chase & Co. upgraded Grupo Financiero Galicia from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $46.00 to $75.00 in a research report on Tuesday, October 28th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Grupo Financiero Galicia presently has an average rating of “Hold” and an average target price of $66.25.

About Grupo Financiero Galicia

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.