Grupo Financiero Galicia S.A. to Issue -- Dividend of $0.15 (NASDAQ:GGAL)

Grupo Financiero Galicia S.A. (NASDAQ:GGAL - Get Free Report) declared a -- dividend on Monday, July 21st, Wall Street Journal reports. Investors of record on Tuesday, July 29th will be given a dividend of 0.1515 per share by the bank on Tuesday, August 5th. The ex-dividend date is Tuesday, July 29th.

Grupo Financiero Galicia has a 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 0.3%

GGAL stock traded down $0.14 during mid-day trading on Monday, reaching $47.08. The company had a trading volume of 1,033,103 shares, compared to its average volume of 1,174,992. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.16 and a quick ratio of 1.16. Grupo Financiero Galicia has a 52 week low of $23.53 and a 52 week high of $74.00. The stock has a 50 day simple moving average of $54.82 and a two-hundred day simple moving average of $58.51. The company has a market capitalization of $6.94 billion, a price-to-earnings ratio of 6.93 and a beta of 1.64.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Grupo Financiero Galicia stock. NewEdge Advisors LLC raised its stake in Grupo Financiero Galicia S.A. (NASDAQ:GGAL - Free Report) by 149.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,003 shares of the bank's stock after buying an additional 5,394 shares during the period. NewEdge Advisors LLC's holdings in Grupo Financiero Galicia were worth $490,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Analysts Set New Price Targets

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

Grupo Financiero Galicia Company Profile

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.

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