Grupo Financiero Galicia (NASDAQ:GGAL) Issues Quarterly Earnings Results, Beats Expectations By $0.10 EPS

Grupo Financiero Galicia (NASDAQ:GGAL) issued its quarterly earnings results on Tuesday. The bank reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.10, FiscalAI reports. The business had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.72 billion.

Grupo Financiero Galicia Price Performance

Shares of NASDAQ:GGAL traded down $0.16 during trading on Tuesday, reaching $43.29. The stock had a trading volume of 203,662 shares, compared to its average volume of 1,150,860. Grupo Financiero Galicia has a 1-year low of $25.89 and a 1-year high of $62.51. The stock has a market cap of $6.95 billion, a PE ratio of 19.08, a PEG ratio of 0.23 and a beta of 1.36. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.16 and a current ratio of 1.13. The business has a fifty day moving average price of $49.19 and a 200-day moving average price of $47.10.

Grupo Financiero Galicia Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 24th will be given a dividend of $0.0531 per share. This represents a c) annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Monday, August 24th. Grupo Financiero Galicia’s dividend payout ratio (DPR) is currently 25.99%.

Insider Activity at Grupo Financiero Galicia

In related news, Director Silvestre Vila Moret purchased 224,000 shares of the firm’s stock in a transaction dated Wednesday, July 8th. The stock was acquired at an average price of $5.36 per share, with a total value of $1,200,640.00. Following the completion of the transaction, the director owned 3,000,000 shares of the company’s stock, valued at $16,080,000. This represents a 8.07% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders have bought 802,791 shares of company stock worth $4,253,109.

Institutional Trading of Grupo Financiero Galicia

Institutional investors have recently bought and sold shares of the business. XTX Topco Ltd grew its stake in Grupo Financiero Galicia by 36.0% in the 4th quarter. XTX Topco Ltd now owns 16,288 shares of the bank’s stock valued at $879,000 after buying an additional 4,312 shares during the last quarter. PointState Capital LP boosted its stake in Grupo Financiero Galicia by 170.6% in 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 during the period. Schonfeld Strategic Advisors LLC lifted its holdings in shares of Grupo Financiero Galicia by 45.5% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 17,279 shares of the bank’s stock worth $932,000 after buying an additional 5,407 shares in the last quarter. Lazard Asset Management LLC grew its stake in shares of Grupo Financiero Galicia by 140.0% in the fourth quarter. Lazard Asset Management LLC now owns 157,969 shares of the bank’s stock valued at $8,521,000 after acquiring an additional 92,159 shares in the last quarter. Finally, Mak Capital One LLC acquired a new stake in Grupo Financiero Galicia during the fourth quarter worth approximately $72,468,000.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Wall Street Zen raised Grupo Financiero Galicia from a “sell” rating to a “hold” rating in a report on Saturday, June 27th. JPMorgan Chase & Co. lifted their price objective on shares of Grupo Financiero Galicia from $72.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, June 25th. Weiss Ratings lowered Grupo Financiero Galicia from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, August 14th. Finally, Zacks Research upgraded Grupo Financiero Galicia from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 14th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $68.33.

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.