Grupo Financiero Galicia S.A. (NASDAQ:GGAL) Shares Set to Pay Monthly Dividend of $0.05

Grupo Financiero Galicia S.A. (NASDAQ:GGAL) declared a monthly dividend on Friday, September 18th. Shareholders of record on Monday, September 28th will be paid a dividend of $0.0479 per share by the bank on Monday, October 5th. This represents a $0.57 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Monday, September 28th. This is a 9.9% decrease from Grupo Financiero Galicia’s previous monthly dividend of $0.0531.

Grupo Financiero Galicia has raised its dividend by an average of 1.0%annually over the last three years. Grupo Financiero Galicia has a dividend payout ratio of 6.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Grupo Financiero Galicia to earn $5.81 per share next year, which means the company should continue to be able to cover its $0.57 annual dividend with an expected future payout ratio of 9.8%.

Grupo Financiero Galicia Stock Performance

GGAL opened at $38.74 on Friday. The company has a market capitalization of $6.22 billion, a PE ratio of 15.81, a P/E/G ratio of 0.22 and a beta of 1.28. The stock’s fifty day moving average is $45.01 and its 200-day moving average is $46.41. Grupo Financiero Galicia has a one year low of $26.06 and a one year high of $62.51.

Grupo Financiero Galicia (NASDAQ:GGAL) last issued its quarterly earnings results on Tuesday, August 25th. The bank reported $1.14 EPS for the quarter, topping the consensus estimate of $0.98 by $0.16. The business had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.70 billion. On average, equities research analysts forecast that Grupo Financiero Galicia will post 3.69 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Silvestre Moret acquired 224,000 shares of Grupo Financiero Galicia stock in a transaction on Wednesday, July 8th. The stock was bought 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. This represents a 8.07% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have bought 677,791 shares of company stock worth $3,609,359 over the last ninety days.

Hedge Funds Weigh In On Grupo Financiero Galicia

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GGAL. ABS Direct Equity Fund LLC acquired a new stake in Grupo Financiero Galicia during the 2nd quarter valued at $3,394,000. Carrhae Capital LLP acquired a new position in shares of Grupo Financiero Galicia in the second quarter worth $68,052,000. Verde Servicos Internacionais S.A. purchased a new stake in shares of Grupo Financiero Galicia during the first quarter worth $934,000. RWC Asset Advisors US LLC boosted its position in Grupo Financiero Galicia by 52.2% during the second quarter. RWC Asset Advisors US LLC now owns 517,540 shares of the bank’s stock valued at $25,893,000 after purchasing an additional 177,574 shares during the last quarter. Finally, Moerus Capital Management LLC purchased a new position in Grupo Financiero Galicia in the first quarter valued at about $8,179,000.

About Grupo Financiero Galicia

Grupo Financiero Galicia SA is an Argentina-based financial services holding company whose principal operating subsidiary is Banco de Galicia y Buenos Aires SAU. The group provides banking and related financial products to individuals, small and medium-sized businesses, corporate clients and agricultural customers in Argentina.

Through its banking operations, Grupo Financiero Galicia offers deposit accounts, personal and commercial loans, credit and debit cards, payment services, foreign trade financing, investment products and digital banking through online and mobile platforms.