Grupo Financiero Galicia (NASDAQ:GGAL) Releases Quarterly Earnings Results, Misses Expectations By $0.07 EPS

Grupo Financiero Galicia (NASDAQ:GGALGet Free Report) issued 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 Performance

NASDAQ:GGAL opened at $45.91 on Wednesday. The stock has a 50-day simple moving average of $44.45 and a two-hundred day simple moving average of $48.56. Grupo Financiero Galicia has a 52-week low of $25.89 and a 52-week high of $63.75. 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 $7.37 billion, a PE ratio of 23.19, a P/E/G ratio of 0.30 and a beta of 1.27.

Grupo Financiero Galicia Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Monday, May 11th. Shareholders of record on Monday, May 4th were issued a dividend of $0.6229 per share. This represents a c) annualized dividend and a yield of 16.3%. The ex-dividend date of this dividend was Monday, May 4th. Grupo Financiero Galicia’s payout ratio is currently 347.47%.

Institutional Trading of Grupo Financiero Galicia

Several hedge funds have recently bought and sold shares of the stock. Cetera Investment Advisers grew its holdings in Grupo Financiero Galicia by 1.9% during the second quarter. Cetera Investment Advisers now owns 11,824 shares of the bank’s stock valued at $596,000 after purchasing an additional 226 shares during the period. Geode Capital Management LLC grew its holdings in Grupo Financiero Galicia by 0.7% during the second quarter. Geode Capital Management LLC now owns 54,525 shares of the bank’s stock valued at $2,748,000 after purchasing an additional 362 shares during the period. Lazard Asset Management LLC grew its holdings in Grupo Financiero Galicia by 1.0% during the third quarter. Lazard Asset Management LLC now owns 65,810 shares of the bank’s stock valued at $1,814,000 after purchasing an additional 677 shares during the period. State of Wyoming bought a new stake in Grupo Financiero Galicia during the fourth quarter valued at about $74,000. Finally, Caitong International Asset Management Co. Ltd boosted its stake in shares of Grupo Financiero Galicia by 4,942.9% in the third quarter. Caitong International Asset Management Co. Ltd now owns 2,118 shares of the bank’s stock worth $58,000 after acquiring an additional 2,076 shares during the period.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on GGAL. JPMorgan Chase & Co. cut their price objective on Grupo Financiero Galicia from $75.00 to $72.00 and set an “overweight” rating for the company in a report on Thursday, February 19th. 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 report on Saturday. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Grupo Financiero Galicia in a report on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $64.00.

Read Our Latest Stock Analysis on Grupo Financiero Galicia

About Grupo Financiero Galicia

(Get Free Report)

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.

Further Reading

Earnings History for Grupo Financiero Galicia (NASDAQ:GGAL)

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