Grupo Financiero Galicia S.A. (GGAL) to Issue Monthly Dividend of $0.15 on March 9th

Grupo Financiero Galicia S.A. (NASDAQ:GGAL) declared a monthly dividend on Friday, February 20th. Shareholders of record on Monday, March 2nd will be given a dividend of 0.1541 per share by the bank on Monday, March 9th. This represents a c) annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend is Monday, March 2nd. This is a 5.9% increase from Grupo Financiero Galicia’s previous monthly dividend of $0.15.

Grupo Financiero Galicia has raised 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 22.1% meaning its dividend is sufficiently covered by earnings. Research 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 $1.84 annual dividend with an expected future payout ratio of 25.3%.

Grupo Financiero Galicia Price Performance

Shares of NASDAQ:GGAL traded down $2.15 on Friday, reaching $44.85. 1,186,331 shares of the company traded hands, compared to its average volume of 1,279,331. The stock has a market capitalization of $6.61 billion, a PE ratio of 22.65 and a beta of 1.44. The company’s 50 day moving average is $51.85 and its 200-day moving average is $45.85. Grupo Financiero Galicia has a fifty-two week low of $25.89 and a fifty-two week high of $66.24.

Analyst Ratings Changes

GGAL has been the topic of a number of analyst reports. JPMorgan Chase & Co. dropped their price target on Grupo Financiero Galicia from $75.00 to $72.00 and set an “overweight” rating on the stock in a research note on Thursday, February 19th. Citigroup upgraded shares of Grupo Financiero Galicia from a “neutral” rating to a “buy” rating in a research report on Monday, November 3rd. Zacks Research lowered Grupo Financiero Galicia from a “hold” rating to a “strong sell” rating in a report on Monday, February 9th. Wall Street Zen cut Grupo Financiero Galicia from a “hold” rating to a “sell” rating in a research report on Saturday, February 7th. Finally, UBS Group started coverage on Grupo Financiero Galicia in a research report on Wednesday, November 19th. They set a “hold” rating and a $60.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Grupo Financiero Galicia has a consensus rating of “Hold” and a consensus price target of $65.50.

Grupo Financiero Galicia Company Profile

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.