Grupo Financiero Galicia S.A. (NASDAQ:GGAL – Get Free Report) announced a monthly dividend on Friday, April 24th. Investors of record on Monday, May 4th will be given a dividend of 0.1639 per share by the bank on Monday, May 11th. This represents a c) annualized dividend and a yield of 4.9%. The ex-dividend date of this dividend is Monday, May 4th. This is a 2.5% increase from Grupo Financiero Galicia’s previous monthly dividend of $0.16.
Grupo Financiero Galicia has increased its dividend by an average of 1.0%annually over the last three years. Grupo Financiero Galicia has a dividend payout ratio of 23.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Grupo Financiero Galicia to earn $3.66 per share next year, which means the company should continue to be able to cover its $1.96 annual dividend with an expected future payout ratio of 53.6%.
Grupo Financiero Galicia Stock Performance
NASDAQ:GGAL traded down $1.19 during mid-day trading on Friday, hitting $40.15. 1,563,247 shares of the stock were exchanged, compared to its average volume of 947,406. The stock has a market capitalization of $6.45 billion, a price-to-earnings ratio of 20.28 and a beta of 1.27. The firm’s 50-day simple moving average is $45.25 and its 200 day simple moving average is $48.58. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.16 and a current 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.
Hedge Funds Weigh In On Grupo Financiero Galicia
A number of hedge funds have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD increased its stake in Grupo Financiero Galicia by 21.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,116,925 shares of the bank’s stock worth $114,188,000 after acquiring an additional 380,643 shares during the period. Aquamarine Financial Cayman Ltd increased its stake in Grupo Financiero Galicia by 57.9% during the 4th quarter. Aquamarine Financial Cayman Ltd now owns 2,092,309 shares of the bank’s stock worth $113,133,000 after acquiring an additional 767,309 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in 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 acquiring an additional 664,533 shares during the period. PointState Capital LP increased its stake in Grupo Financiero Galicia by 170.6% during the 4th quarter. PointState Capital LP now owns 1,592,990 shares of the bank’s stock worth $85,926,000 after acquiring an additional 1,004,371 shares during the period. Finally, RWC Asset Advisors US LLC increased its stake in Grupo Financiero Galicia by 848.1% during the 3rd quarter. RWC Asset Advisors US LLC now owns 1,540,187 shares of the bank’s stock worth $42,448,000 after acquiring an additional 1,377,735 shares during the period.
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.
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