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

Grupo Financiero Galicia S.A. (NASDAQ:GGAL - Get Free Report) announced a -- dividend on Thursday, July 17th, Wall Street Journal reports. Investors of record on Tuesday, July 29th will be paid a dividend of 0.1515 per share by the bank on Tuesday, August 5th. The ex-dividend date of this dividend is Tuesday, July 29th.

Grupo Financiero Galicia has a dividend payout ratio of 3.2% meaning its dividend is sufficiently covered by earnings. Equities research 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 Trading Up 3.7%

Shares of GGAL stock traded up $1.81 on Thursday, reaching $51.06. 1,747,880 shares of the company's stock were exchanged, compared to its average volume of 1,246,253. Grupo Financiero Galicia has a 52 week low of $23.53 and a 52 week high of $74.00. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $7.53 billion, a PE ratio of 7.52 and a beta of 1.64. The company's fifty day simple moving average is $53.97 and its 200 day simple moving average is $58.21.

Institutional Investors Weigh In On Grupo Financiero Galicia

A hedge fund recently raised its stake in Grupo Financiero Galicia stock. NewEdge Advisors LLC lifted 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. The institutional investor 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 quarter.

Analysts Set New Price Targets

A number of brokerages recently issued reports on GGAL. Itau BBA Securities began coverage on Grupo Financiero Galicia in a research note on Tuesday, May 20th. They set an "outperform" rating and a $70.00 price target for the company. Wall Street Zen lowered 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 given a buy rating to the company's stock. Based on data from MarketBeat, Grupo Financiero Galicia currently has an average rating of "Moderate Buy" and a consensus target price of $61.20.

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.