Grupo Financiero Galicia (NASDAQ:GGAL) Posts Earnings Results

Grupo Financiero Galicia (NASDAQ:GGAL) posted its quarterly earnings data on Tuesday. The bank reported $0.29 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.07), Zacks reports. Grupo Financiero Galicia had a return on equity of 18.96% and a net margin of 7.13%.

Grupo Financiero Galicia Stock Up 1.1%

Shares of GGAL opened at $44.04 on Tuesday. The firm has a market cap of $7.07 billion, a P/E ratio of 22.24, a PEG ratio of 0.30 and a beta of 1.27. Grupo Financiero Galicia has a 12 month low of $25.89 and a 12 month high of $63.75. The stock’s 50 day moving average is $44.35 and its two-hundred day moving average is $48.65. The company has a current ratio of 1.13, a quick ratio of 1.16 and a debt-to-equity ratio of 0.32.

Grupo Financiero Galicia Announces Dividend

The firm also recently disclosed a monthly dividend, which was paid on Monday, May 11th. Shareholders of record on Monday, May 4th were issued a $0.6229 dividend. This represents a c) annualized dividend and a yield of 17.0%. The ex-dividend date of this dividend was Monday, May 4th. Grupo Financiero Galicia’s dividend payout ratio (DPR) is presently 347.47%.

Analyst Ratings Changes

A number of brokerages recently issued reports on GGAL. Weiss Ratings restated a “sell (d+)” rating on shares of Grupo Financiero Galicia in a research note on Friday, March 27th. Zacks Research raised Grupo Financiero Galicia from a “strong sell” rating to a “hold” rating in a report on Thursday, May 14th. Wall Street Zen lowered Grupo Financiero Galicia from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, JPMorgan Chase & Co. reduced their price target on shares of 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. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $64.00.

Hedge Funds Weigh In On Grupo Financiero Galicia

A number of large investors have recently added to or reduced their stakes in GGAL. NewEdge Advisors LLC grew its position in shares of Grupo Financiero Galicia by 149.5% in the first quarter. NewEdge Advisors LLC now owns 9,003 shares of the bank’s stock valued at $490,000 after purchasing an additional 5,394 shares during the period. 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. boosted its holdings in Grupo Financiero Galicia by 93.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 75,302 shares of the bank’s stock worth $3,794,000 after buying an additional 36,326 shares during the last quarter. Finally, Marshall Wace LLP acquired a new stake in Grupo Financiero Galicia in the 2nd quarter worth about $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.