Grupo Financiero Galicia S.A. (GGAL) To Go Ex-Dividend on August 3rd

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

Grupo Financiero Galicia has increased its dividend payment by an average of 1.0%annually over the last three years. Grupo Financiero Galicia has a payout ratio of 7.0% meaning 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 Trading Down 3.6%

NASDAQ GGAL opened at $49.77 on Friday. Grupo Financiero Galicia has a one year low of $25.89 and a one year high of $62.51. The company’s 50 day moving average price is $50.80 and its 200 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. The firm has a market capitalization of $7.99 billion, a price-to-earnings ratio of 21.93, a PEG ratio of 0.29 and a beta of 1.34.

Grupo Financiero Galicia (NASDAQ:GGAL) last announced its quarterly earnings results on Tuesday, May 26th. The bank reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.07). The business had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.70 billion. On average, sell-side analysts predict that Grupo Financiero Galicia will post 3.75 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently commented on GGAL. Weiss Ratings raised shares of Grupo Financiero Galicia from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, July 21st. Zacks Research raised Grupo Financiero Galicia from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 14th. JPMorgan Chase & Co. boosted their price objective on Grupo Financiero Galicia from $72.00 to $85.00 and gave the stock an “overweight” rating in a research note 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 equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.