Grupo Financiero Galicia S.A. (GGAL) To Go Ex-Dividend on September 28th

Grupo Financiero Galicia S.A. (NASDAQ:GGAL) declared a monthly dividend on Friday, September 18th. Shareholders of record on Monday, September 28th will be given a dividend of $0.0479 per share by the bank on Monday, October 5th. This represents a $0.57 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Monday, September 28th. This is a 9.9% decrease from Grupo Financiero Galicia’s previous monthly dividend of $0.0531.

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 6.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect Grupo Financiero Galicia to earn $5.81 per share next year, which means the company should continue to be able to cover its $0.57 annual dividend with an expected future payout ratio of 9.8%.

Grupo Financiero Galicia Stock Down 2.1%

GGAL stock opened at $38.74 on Friday. The firm has a market cap of $6.22 billion, a PE ratio of 15.81, a P/E/G ratio of 0.22 and a beta of 1.28. The business has a 50 day moving average of $45.01 and a 200-day moving average of $46.41. Grupo Financiero Galicia has a 12-month low of $26.06 and a 12-month high of $62.51.

Grupo Financiero Galicia (NASDAQ:GGAL) last posted its quarterly earnings data on Tuesday, August 25th. The bank reported $1.14 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.16. The business had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.70 billion. On average, research analysts expect that Grupo Financiero Galicia will post 3.69 earnings per share for the current year.

Insiders Place Their Bets

In other Grupo Financiero Galicia news, Director Silvestre Moret bought 224,000 shares of Grupo Financiero Galicia stock in a transaction dated Wednesday, July 8th. The stock was purchased at an average price of $5.36 per share, for a total transaction of $1,200,640.00. Following the completion of the purchase, the director directly owned 3,000,000 shares of the company’s stock, valued at approximately $16,080,000. This trade represents a 8.07% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have bought a total of 677,791 shares of company stock worth $3,609,359 in the last three months.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of GGAL. Carrhae Capital LLP bought a new stake in Grupo Financiero Galicia during the 2nd quarter valued at $68,052,000. RWC Asset Advisors US LLC grew its position in shares of Grupo Financiero Galicia by 52.2% in the second quarter. RWC Asset Advisors US LLC now owns 517,540 shares of the bank’s stock valued at $25,893,000 after purchasing an additional 177,574 shares in the last quarter. Fourth Sail Capital LP purchased a new position in shares of Grupo Financiero Galicia in the fourth quarter valued at $16,653,000. USS Investment Management Ltd bought a new stake in shares of Grupo Financiero Galicia during the 4th quarter valued at $10,214,000. Finally, Hsbc Holdings PLC raised its stake in shares of Grupo Financiero Galicia by 71.2% during the 4th quarter. Hsbc Holdings PLC now owns 186,852 shares of the bank’s stock valued at $9,984,000 after purchasing an additional 77,740 shares during the period.

Grupo Financiero Galicia Company Profile

Grupo Financiero Galicia SA is an Argentina-based financial services holding company whose principal operating subsidiary is Banco de Galicia y Buenos Aires SAU. The group provides banking and related financial products to individuals, small and medium-sized businesses, corporate clients and agricultural customers in Argentina.

Through its banking operations, Grupo Financiero Galicia offers deposit accounts, personal and commercial loans, credit and debit cards, payment services, foreign trade financing, investment products and digital banking through online and mobile platforms.