Grupo Financiero Galicia S.A. (NASDAQ:GGAL) Increases Dividend to $0.16 Per Share

Grupo Financiero Galicia S.A. (NASDAQ:GGAL) declared a monthly dividend on Friday, April 24th. Stockholders 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 dividend 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 raised its dividend payment by an average of 1.0%annually over the last three years. Grupo Financiero Galicia has a payout ratio of 23.6% meaning its dividend is sufficiently covered by earnings. Equities 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

Shares of Grupo Financiero Galicia stock traded down $1.19 during 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’s fifty day moving average is $45.25 and its 200 day moving average is $48.58. The stock has a market cap of $6.45 billion, a PE ratio of 20.28 and a beta of 1.27. 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 12 month low of $25.89 and a 12 month high of $65.48.

Grupo Financiero Galicia (NASDAQ:GGAL) last released its quarterly earnings results on Saturday, February 14th. The bank reported ($0.36) EPS for the quarter. The firm had revenue of $666.89 million for the quarter. Grupo Financiero Galicia had a return on equity of 18.96% and a net margin of 7.13%. As a group, sell-side analysts anticipate that Grupo Financiero Galicia will post 1.68 EPS for the current year.

Hedge Funds Weigh In On Grupo Financiero Galicia

A number of institutional investors and hedge funds have recently bought and sold shares of GGAL. RWC Asset Advisors US LLC grew its position in Grupo Financiero Galicia by 848.1% in the 3rd quarter. RWC Asset Advisors US LLC now owns 1,540,187 shares of the bank’s stock valued at $42,448,000 after buying an additional 1,377,735 shares in the last quarter. Mak Capital One LLC bought a new position in shares of Grupo Financiero Galicia during the 4th quarter valued at about $72,468,000. PointState Capital LP boosted its position in shares of Grupo Financiero Galicia by 170.6% during the 4th quarter. PointState Capital LP now owns 1,592,990 shares of the bank’s stock valued at $85,926,000 after purchasing an additional 1,004,371 shares in the last quarter. TT International Asset Management LTD bought a new position in shares of Grupo Financiero Galicia during the 4th quarter valued at about $47,035,000. Finally, Aquamarine Financial Cayman Ltd boosted its position in shares of 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 valued at $113,133,000 after purchasing an additional 767,309 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.