Grupo Financiero Galicia S.A. Declares Monthly Dividend of $0.05 (NASDAQ:GGAL)

Grupo Financiero Galicia S.A. (NASDAQ:GGAL) declared a monthly dividend on Friday, July 24th. Investors of record on Monday, August 3rd will be paid a dividend of 0.0531 per share by the bank on Monday, August 10th. This represents a c) annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Monday, August 3rd.

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 7.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Grupo Financiero Galicia to earn $6.46 per share next year, which means the company should continue to be able to cover its $0.58 annual dividend with an expected future payout ratio of 9.0%.

Grupo Financiero Galicia Price Performance

Shares of GGAL stock opened at $49.77 on Friday. The firm’s 50 day moving average price is $50.80 and its two-hundred day moving average price is $48.12. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.16 and a current ratio of 1.13. Grupo Financiero Galicia has a 52-week low of $25.89 and a 52-week high of $62.51. The stock has a market cap of $7.99 billion, a PE ratio of 21.93, a PEG ratio of 0.29 and a beta of 1.34.

Grupo Financiero Galicia (NASDAQ:GGAL) last issued its earnings results on Tuesday, May 26th. The bank reported $0.29 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.07). The business had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.70 billion. As a group, analysts forecast that Grupo Financiero Galicia will post 3.75 EPS for the current year.

Insider Activity

In other news, Director Silvestre Vila Moret acquired 224,000 shares of the stock in a transaction that occurred on Wednesday, July 8th. The stock was acquired at an average price of $5.36 per share, for a total transaction of $1,200,640.00. Following the transaction, the director directly owned 3,000,000 shares in the company, valued at approximately $16,080,000. This represents a 8.07% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Over the last three months, insiders have acquired 802,791 shares of company stock valued at $4,253,109.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Mak Capital One LLC acquired a new stake in shares of Grupo Financiero Galicia in 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 fourth quarter. PointState Capital LP now owns 1,592,990 shares of the bank’s stock worth $85,926,000 after buying an additional 1,004,371 shares during the period. TT International Asset Management LTD bought a new position in shares of Grupo Financiero Galicia during the fourth quarter worth about $47,035,000. Aquamarine Financial Cayman Ltd grew its holdings in shares of Grupo Financiero Galicia by 57.9% during the fourth quarter. Aquamarine Financial Cayman Ltd now owns 2,092,309 shares of the bank’s stock worth $113,133,000 after buying an additional 767,309 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Grupo Financiero Galicia by 52.2% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,937,465 shares of the bank’s stock worth $97,629,000 after buying an additional 664,533 shares in the last quarter.

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.