Grupo Financiero Galicia S.A. (NASDAQ:GGAL) Declares Monthly Dividend of $0.14

Grupo Financiero Galicia S.A. (NASDAQ:GGAL) declared a monthly dividend on Wednesday, November 19th. Investors of record on Monday, December 1st will be given a dividend of 0.1406 per share by the bank on Monday, December 8th. This represents a c) dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Monday, December 1st. This is a 4.3% increase from Grupo Financiero Galicia’s previous monthly dividend of $0.13.

Grupo Financiero Galicia has increased its dividend payment by an average of 0.5%per year over the last three years. Grupo Financiero Galicia has a dividend payout ratio of 19.4% indicating that its dividend is sufficiently covered by earnings. 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 $1.61 annual dividend with an expected future payout ratio of 22.2%.

Grupo Financiero Galicia Stock Down 1.8%

Grupo Financiero Galicia stock traded down $0.91 during mid-day trading on Thursday, reaching $48.81. The stock had a trading volume of 1,081,215 shares, compared to its average volume of 1,890,130. The stock’s 50-day simple moving average is $39.46 and its 200-day simple moving average is $47.15. The firm has a market capitalization of $7.20 billion, a PE ratio of 25.63 and a beta of 1.58. Grupo Financiero Galicia has a fifty-two week low of $25.89 and a fifty-two week high of $74.00. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.16.

Analysts Set New Price Targets

GGAL has been the topic of a number of recent research reports. Weiss Ratings restated a “hold (c-)” rating on shares of Grupo Financiero Galicia in a research note on Wednesday. Wall Street Zen downgraded shares of Grupo Financiero Galicia from a “hold” rating to a “sell” rating in a research note on Friday, September 26th. Zacks Research downgraded shares of Grupo Financiero Galicia from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 28th. JPMorgan Chase & Co. upgraded Grupo Financiero Galicia from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $46.00 to $75.00 in a research note on Tuesday, October 28th. Finally, Citigroup upgraded Grupo Financiero Galicia from a “neutral” rating to a “buy” rating in a research report on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $71.40.

Grupo Financiero Galicia Company Profile

Grupo Financiero Galicia SA, a financial service holding company, provides various financial products and services to individuals and companies in Argentina. The company operates through Banks, NaranjaX, Insurance, and Other Businesses segments. It also offers personal loans; express and mortgage loans; pledge and credit card loans; credit and debit cards; and online banking services, as well as savings, deposits, and checking accounts related services.