Grupo Financiero Galicia (NASDAQ:GGAL) Announces Quarterly Earnings Results

Grupo Financiero Galicia (NASDAQ:GGAL) posted its quarterly earnings data on Tuesday. The bank reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.10, FiscalAI reports. The business had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.72 billion.

Grupo Financiero Galicia Stock Performance

NASDAQ:GGAL traded down $0.37 on Tuesday, reaching $43.08. 187,954 shares of the company’s stock were exchanged, compared to its average volume of 1,150,710. The stock has a fifty day simple moving average of $49.19 and a 200-day simple moving average of $47.10. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.13 and a quick ratio of 1.16. Grupo Financiero Galicia has a 52 week low of $25.89 and a 52 week high of $62.51. The firm has a market cap of $6.92 billion, a price-to-earnings ratio of 18.87, a P/E/G ratio of 0.23 and a beta of 1.36.

Grupo Financiero Galicia Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 24th will be issued a dividend of $0.0531 per share. The ex-dividend date of this dividend is Monday, August 24th. This represents a c) annualized dividend and a yield of 1.5%. Grupo Financiero Galicia’s dividend payout ratio is 25.99%.

Insider Activity

In other Grupo Financiero Galicia news, Director Silvestre Vila Moret purchased 224,000 shares of the firm’s stock in a transaction on Wednesday, July 8th. The shares were purchased at an average cost of $5.36 per share, with a total value of $1,200,640.00. Following the completion of the purchase, the director owned 3,000,000 shares of the company’s stock, valued at $16,080,000. The trade was a 8.07% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last ninety days, insiders have acquired 802,791 shares of company stock worth $4,253,109.

Hedge Funds Weigh In On Grupo Financiero Galicia

Hedge funds and other institutional investors have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd lifted 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 buying an additional 2,076 shares in the last quarter. State of Wyoming purchased a new position in shares of Grupo Financiero Galicia during the 4th quarter worth about $74,000. Raymond James Financial Inc. purchased a new position in shares of Grupo Financiero Galicia during the second quarter worth approximately $151,000. Scientech Research LLC bought a new stake in Grupo Financiero Galicia during the 3rd quarter valued at $230,000. Finally, Cibc World Market Inc. purchased a new stake in Grupo Financiero Galicia in the fourth quarter valued at about $241,000.

Wall Street Analyst Weigh In

A number of research firms have recently commented on GGAL. Weiss Ratings downgraded shares of Grupo Financiero Galicia from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, August 14th. Zacks Research upgraded shares of Grupo Financiero Galicia from a “strong sell” rating to a “hold” rating in a report on Thursday, May 14th. Wall Street Zen upgraded Grupo Financiero Galicia from a “sell” rating to a “hold” rating in a report on Saturday, June 27th. Finally, JPMorgan Chase & Co. upped their price target 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. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus 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.