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

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

Grupo Financiero Galicia Price Performance

GGAL stock traded down $0.37 during trading on Tuesday, reaching $43.08. 187,954 shares of the company were exchanged, compared to its average volume of 1,150,710. Grupo Financiero Galicia has a 52-week low of $25.89 and a 52-week high of $62.51. 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 company has a market cap of $6.92 billion, a P/E ratio of 18.87, a PEG ratio of 0.23 and a beta of 1.36. The stock’s 50 day moving average price is $49.19 and its 200 day moving average price is $47.10.

Grupo Financiero Galicia Dividend Announcement

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

Analysts Set New Price Targets

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

Insider Activity at Grupo Financiero Galicia

In other news, Director Silvestre Vila Moret acquired 224,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 8th. The stock was purchased at an average cost of $5.36 per share, with a total value of $1,200,640.00. Following the purchase, the director directly owned 3,000,000 shares of the company’s stock, valued at approximately $16,080,000. This trade represents a 8.07% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last 90 days, insiders purchased 802,791 shares of company stock worth $4,253,109.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in GGAL. NewEdge Advisors LLC increased its holdings in Grupo Financiero Galicia by 149.5% during the 1st quarter. NewEdge Advisors LLC now owns 9,003 shares of the bank’s stock valued at $490,000 after acquiring an additional 5,394 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Grupo Financiero Galicia by 0.7% during the 2nd quarter. Geode Capital Management LLC now owns 54,525 shares of the bank’s stock worth $2,748,000 after purchasing an additional 362 shares during the last quarter. Cetera Investment Advisers lifted its stake in Grupo Financiero Galicia by 1.9% in the 2nd quarter. Cetera Investment Advisers now owns 11,824 shares of the bank’s stock valued at $596,000 after buying an additional 226 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Grupo Financiero Galicia by 93.2% in the second quarter. JPMorgan Chase & Co. now owns 75,302 shares of the bank’s stock worth $3,794,000 after acquiring an additional 36,326 shares during the last quarter. Finally, Marshall Wace LLP purchased a new stake in shares of Grupo Financiero Galicia in the second quarter valued at $5,299,000.

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.