Grupo Financiero Galicia S.A. (NASDAQ:GGAL) Announces Monthly Dividend of $0.15

Grupo Financiero Galicia S.A. (NASDAQ:GGAL) declared a monthly dividend on Friday, February 20th. Investors of record on Monday, March 2nd will be paid a dividend of 0.1541 per share by the bank on Monday, March 9th. This represents a c) annualized dividend and a yield of 4.1%. The ex-dividend date is Monday, March 2nd. This is a 5.9% increase from Grupo Financiero Galicia’s previous monthly dividend of $0.15.

Grupo Financiero Galicia has increased its dividend by an average of 0.5%annually over the last three years. Grupo Financiero Galicia has a payout ratio of 22.1% meaning its dividend is sufficiently covered by earnings. Research 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 $1.84 annual dividend with an expected future payout ratio of 25.3%.

Grupo Financiero Galicia Stock Down 4.6%

NASDAQ:GGAL traded down $2.15 during trading hours on Friday, reaching $44.85. The company had a trading volume of 1,186,331 shares, compared to its average volume of 1,279,331. Grupo Financiero Galicia has a twelve month low of $25.89 and a twelve month high of $66.24. The firm has a market cap of $6.61 billion, a price-to-earnings ratio of 22.65 and a beta of 1.44. The business’s 50-day simple moving average is $51.85 and its two-hundred day simple moving average is $45.85.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on GGAL. JPMorgan Chase & Co. decreased their target price on Grupo Financiero Galicia from $75.00 to $72.00 and set an “overweight” rating for the company in a research report on Thursday, February 19th. UBS Group started coverage on Grupo Financiero Galicia in a research note on Wednesday, November 19th. They issued a “hold” rating and a $60.00 price objective for the company. Wall Street Zen lowered Grupo Financiero Galicia from a “hold” rating to a “sell” rating in a research report on Saturday, February 7th. Zacks Research cut Grupo Financiero Galicia from a “hold” rating to a “strong sell” rating in a report on Monday, February 9th. Finally, Citigroup upgraded shares of Grupo Financiero Galicia from a “neutral” rating to a “buy” rating in a research note on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock 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.