Grupo Financiero Galicia S.A. Declares — Dividend of $0.08 (NASDAQ:GGAL)

Grupo Financiero Galicia S.A. (NASDAQ:GGAL – Get Rating) announced a — dividend on Tuesday, January 24th, Wall Street Journal reports. Shareholders of record on Monday, January 30th will be given a dividend of 0.0764 per share by the bank on Monday, February 6th. The ex-dividend date is Friday, January 27th.

Grupo Financiero Galicia has a dividend payout ratio of 5.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Grupo Financiero Galicia to earn $2.52 per share next year, which means the company should continue to be able to cover its $0.09 annual dividend with an expected future payout ratio of 3.6%.

Grupo Financiero Galicia Stock Performance

Shares of Grupo Financiero Galicia stock traded down $0.05 during trading hours on Tuesday, reaching $13.53. 799,656 shares of the stock traded hands, compared to its average volume of 1,236,277. The company has a 50 day moving average price of $9.33 and a 200 day moving average price of $8.35. Grupo Financiero Galicia has a one year low of $5.75 and a one year high of $14.25. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.07.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. INCA Investments LLC lifted its holdings in Grupo Financiero Galicia by 33.8% in the 1st quarter. INCA Investments LLC now owns 3,086,245 shares of the bank’s stock worth $33,331,000 after purchasing an additional 779,545 shares in the last quarter. Hsbc Holdings PLC lifted its holdings in Grupo Financiero Galicia by 6.6% in the 1st quarter. Hsbc Holdings PLC now owns 425,200 shares of the bank’s stock worth $4,622,000 after purchasing an additional 26,262 shares in the last quarter. Verition Fund Management LLC purchased a new position in Grupo Financiero Galicia in the 1st quarter worth approximately $4,323,000. Eaton Vance Management purchased a new position in Grupo Financiero Galicia in the 1st quarter worth approximately $3,452,000. Finally, State Street Corp lifted its holdings in Grupo Financiero Galicia by 3.4% in the 3rd quarter. State Street Corp now owns 172,534 shares of the bank’s stock worth $1,303,000 after purchasing an additional 5,676 shares in the last quarter. 7.87% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GGAL has been the topic of a number of analyst reports. TheStreet raised Grupo Financiero Galicia from a “c” rating to a “b-” rating in a research report on Monday, September 26th. StockNews.com initiated coverage on Grupo Financiero Galicia in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Finally, Citigroup raised Grupo Financiero Galicia from a “sell” rating to a “neutral” rating in a research report on Thursday, January 19th. One analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Grupo Financiero Galicia currently has a consensus rating of “Hold” and an average target price of $14.65.

Grupo Financiero Galicia Company Profile

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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. The company's products and services cover savings, current, and checking accounts; personal loans; express and mortgage loans; pledge and credit card loans; credit and debit cards; and online banking services.