Grupo Financiero Galicia (NASDAQ:GGAL) Issues Earnings Results, Misses Expectations By $0.07 EPS

Grupo Financiero Galicia (NASDAQ:GGAL) posted its quarterly earnings results on Tuesday. The bank reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.07), Zacks reports. Grupo Financiero Galicia had a return on equity of 18.96% and a net margin of 7.13%.

Grupo Financiero Galicia Price Performance

GGAL stock opened at $43.55 on Tuesday. The firm has a 50-day moving average of $44.35 and a 200 day moving average of $48.65. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.13 and a quick ratio of 1.16. The company has a market cap of $7.00 billion, a P/E ratio of 21.99, a PEG ratio of 0.30 and a beta of 1.27. Grupo Financiero Galicia has a 1 year low of $25.89 and a 1 year high of $63.75.

Grupo Financiero Galicia Announces Dividend

The business also recently announced a monthly dividend, which was paid on Monday, May 11th. Stockholders of record on Monday, May 4th were paid a dividend of $0.6229 per share. The ex-dividend date of this dividend was Monday, May 4th. This represents a c) dividend on an annualized basis and a dividend yield of 17.2%. Grupo Financiero Galicia’s payout ratio is presently 347.47%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on GGAL shares. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Grupo Financiero Galicia in a research note on Friday, March 27th. Zacks Research raised shares of Grupo Financiero Galicia from a “strong sell” rating to a “hold” rating in a report on Thursday, May 14th. JPMorgan Chase & Co. lowered their price objective on shares of Grupo Financiero Galicia from $75.00 to $72.00 and set an “overweight” rating on the stock in a research report on Thursday, February 19th. Finally, Wall Street Zen lowered shares of Grupo Financiero Galicia from a “hold” rating to a “sell” rating in a report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Grupo Financiero Galicia presently has an average rating of “Hold” and a consensus price target of $64.00.

Institutional Trading of Grupo Financiero Galicia

Hedge funds have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd increased its stake in shares of Grupo Financiero Galicia by 4,942.9% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 2,118 shares of the bank’s stock worth $58,000 after acquiring an additional 2,076 shares in the last quarter. State of Wyoming purchased a new position in shares of Grupo Financiero Galicia during the fourth quarter valued at approximately $74,000. Raymond James Financial Inc. purchased a new stake in shares of Grupo Financiero Galicia in the 2nd quarter worth approximately $151,000. Scientech Research LLC purchased a new position in Grupo Financiero Galicia during the third quarter valued at $230,000. Finally, Cibc World Market Inc. purchased a new stake in shares of Grupo Financiero Galicia in the fourth quarter worth $241,000.

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.