Grupo Financiero Galicia S.A. (NASDAQ:GGAL) Announces -- Dividend of $0.26

Grupo Financiero Galicia S.A. (NASDAQ:GGAL - Get Free Report) announced a -- dividend on Friday, May 23rd, Wall Street Journal reports. Investors of record on Tuesday, June 3rd will be given a dividend of 0.2631 per share by the bank on Tuesday, June 10th. The ex-dividend date of this dividend is Tuesday, June 3rd.

Grupo Financiero Galicia has raised its dividend by an average of 233.1% per year over the last three years. Grupo Financiero Galicia has a dividend payout ratio of 3.2% meaning 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 $0.27 annual dividend with an expected future payout ratio of 3.7%.

Grupo Financiero Galicia Stock Down 0.6%

Shares of Grupo Financiero Galicia stock traded down $0.36 during trading hours on Friday, reaching $57.81. 1,542,510 shares of the company's stock were exchanged, compared to its average volume of 1,108,807. The company has a 50 day moving average of $58.36 and a two-hundred day moving average of $60.58. Grupo Financiero Galicia has a fifty-two week low of $23.53 and a fifty-two week high of $74.00. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.10. The stock has a market cap of $8.53 billion, a P/E ratio of 8.51 and a beta of 1.79.

Analysts Set New Price Targets

GGAL has been the topic of several recent research reports. Wall Street Zen cut shares of Grupo Financiero Galicia from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Itau BBA Securities initiated coverage on shares of Grupo Financiero Galicia in a report on Tuesday, May 20th. They issued an "outperform" rating and a $70.00 target price on the stock. One analyst has rated the stock with a sell rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $61.20.

Institutional Investors Weigh In On Grupo Financiero Galicia

A hedge fund recently raised its stake in Grupo Financiero Galicia stock. NewEdge Advisors LLC boosted its holdings in shares of Grupo Financiero Galicia S.A. (NASDAQ:GGAL - Free Report) by 149.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,003 shares of the bank's stock after acquiring an additional 5,394 shares during the period. NewEdge Advisors LLC's holdings in Grupo Financiero Galicia were worth $490,000 at the end of the most recent reporting period.

About Grupo Financiero Galicia

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.