Grupo Financiero Galicia S.A. (GGAL) to Issue Monthly Dividend of $0.16 on April 6th

Grupo Financiero Galicia S.A. (NASDAQ:GGAL) declared a monthly dividend on Thursday, March 19th. Investors of record on Monday, March 30th will be given a dividend of 0.16 per share by the bank on Monday, April 6th. This represents a c) dividend on an annualized basis and a yield of 4.5%. The ex-dividend date is Monday, March 30th. This is a 3.8% increase from Grupo Financiero Galicia’s previous monthly dividend of $0.15.

Grupo Financiero Galicia has increased its dividend payment by an average of 0.5%per year over the last three years. Grupo Financiero Galicia has a dividend payout ratio of 23.1% indicating that 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 $1.92 annual dividend with an expected future payout ratio of 26.4%.

Grupo Financiero Galicia Stock Down 4.1%

GGAL stock opened at $42.70 on Friday. The company has a market capitalization of $6.30 billion, a price-to-earnings ratio of 21.57 and a beta of 1.48. Grupo Financiero Galicia has a 12 month low of $25.89 and a 12 month high of $66.24. The firm has a 50 day moving average of $47.60 and a two-hundred day moving average of $45.86.

Grupo Financiero Galicia (NASDAQ:GGAL) last released its quarterly 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 for the quarter. On average, research analysts expect that Grupo Financiero Galicia will post 7.49 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have commented 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 Saturday, February 7th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Grupo Financiero Galicia in a research note on Monday, December 29th. Zacks Research lowered Grupo Financiero Galicia from a “hold” rating to a “strong sell” rating in a report on Monday, February 9th. Finally, JPMorgan Chase & Co. cut their price objective on Grupo Financiero Galicia from $75.00 to $72.00 and set an “overweight” rating on the stock in a research note on Thursday, February 19th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $65.50.

Grupo Financiero Galicia Company Profile

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.