Grupo Financiero Galicia S.A. (NASDAQ:GGAL) Declares Dividend Increase – $0.15 Per Share

Grupo Financiero Galicia S.A. (NASDAQ:GGAL) announced a monthly dividend on Friday, February 20th. Shareholders of record on Monday, March 2nd will be paid a dividend of 0.1541 per share by the bank on Monday, March 9th. This represents a c) dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend is Monday, March 2nd. This is a 5.9% increase from Grupo Financiero Galicia’s previous monthly dividend of $0.15.

Grupo Financiero Galicia has raised its dividend payment by an average of 0.5%annually over the last three years. Grupo Financiero Galicia has a payout ratio of 22.1% 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 $1.84 annual dividend with an expected future payout ratio of 25.3%.

Grupo Financiero Galicia Stock Down 4.6%

Shares of NASDAQ GGAL traded down $2.15 during midday trading on Friday, reaching $44.85. 1,186,331 shares of the company were exchanged, compared to its average volume of 1,279,331. The stock’s 50-day moving average price is $51.85 and its 200-day moving average price is $45.85. The stock has a market cap of $6.61 billion, a P/E ratio of 22.65 and a beta of 1.44. Grupo Financiero Galicia has a one year low of $25.89 and a one year high of $66.24.

Institutional Trading of Grupo Financiero Galicia

A number of institutional investors have recently bought and sold shares of GGAL. Hantz Financial Services Inc. raised its position in shares of Grupo Financiero Galicia by 131.6% in the 3rd quarter. Hantz Financial Services Inc. now owns 938 shares of the bank’s stock worth $26,000 after acquiring an additional 533 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its stake in Grupo Financiero Galicia by 4,942.9% during the third quarter. Caitong International Asset Management Co. Ltd now owns 2,118 shares of the bank’s stock worth $58,000 after purchasing an additional 2,076 shares during the period. SBI Securities Co. Ltd. grew its stake in Grupo Financiero Galicia by 240.5% during the second quarter. SBI Securities Co. Ltd. now owns 1,202 shares of the bank’s stock worth $61,000 after purchasing an additional 849 shares during the period. State of Wyoming bought a new stake in Grupo Financiero Galicia in the fourth quarter worth approximately $74,000. Finally, Acuitas Investments LLC acquired a new position in Grupo Financiero Galicia in the third quarter valued at approximately $110,000.

About Grupo Financiero Galicia

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.