Grupo Financiero Galicia S.A. (NASDAQ:GGAL) Declares Monthly Dividend of $0.05

Key Points

• Grupo Financiero Galicia declared a monthly dividend of $0.0531 per share, payable August 10 to shareholders of record August 3. The payment implies an annualized dividend of approximately $0.58 and a 1.3% yield.
• The dividend appears well covered, with a current payout ratio of 7% and an expected future payout ratio of 9%, based on analysts’ projected earnings.
• Analyst sentiment is moderately positive: the stock has a consensus “Moderate Buy” rating and a $68.33 price target, although the bank recently missed quarterly EPS and revenue expectations.

Grupo Financiero Galicia S.A. (NASDAQ:GGAL - Get Free Report) announced a monthly dividend on Friday, July 24th. Investors of record on Monday, August 3rd will be given a dividend of 0.0531 per share by the bank on Monday, August 10th. This represents a c) annualized dividend and a yield of 1.3%. The ex-dividend date is Monday, August 3rd.

Grupo Financiero Galicia has raised its dividend payment by an average of 1.0%annually over the last three years. Grupo Financiero Galicia has a payout ratio of 7.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Grupo Financiero Galicia to earn $6.46 per share next year, which means the company should continue to be able to cover its $0.58 annual dividend with an expected future payout ratio of 9.0%.

Grupo Financiero Galicia Price Performance

Shares of NASDAQ GGAL opened at $49.77 on Friday. The company has a fifty day moving average price of $50.80 and a 200 day moving average price of $48.12. The firm has a market cap of $7.99 billion, a PE ratio of 21.93, a PEG ratio of 0.29 and a beta of 1.34. The company has a current ratio of 1.13, a quick ratio of 1.16 and a debt-to-equity ratio of 0.32. Grupo Financiero Galicia has a 1-year low of $25.89 and a 1-year high of $62.51.

Grupo Financiero Galicia (NASDAQ:GGAL - Get Free Report) last released its quarterly earnings results on Tuesday, May 26th. The bank reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.07). The business had revenue of $1.55 billion during the quarter, compared to analysts' expectations of $1.70 billion. Research analysts predict that Grupo Financiero Galicia will post 3.75 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on GGAL. Weiss Ratings upgraded Grupo Financiero Galicia from a "sell (d+)" rating to a "hold (c-)" rating in a report on Tuesday, July 21st. JPMorgan Chase & Co. boosted their target price on Grupo Financiero Galicia from $72.00 to $85.00 and gave the company an "overweight" rating in a research note on Thursday, June 25th. Zacks Research raised Grupo Financiero Galicia from a "strong sell" rating to a "hold" rating in a research report on Thursday, May 14th. Finally, Wall Street Zen raised shares of Grupo Financiero Galicia from a "sell" rating to a "hold" rating in a research note on Saturday, June 27th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $68.33.

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.

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