Grupo Financiero Galicia S.A. (NASDAQ:GGAL) Announces Dividend Increase – $0.14 Per Share

Grupo Financiero Galicia S.A. (NASDAQ:GGAL) declared a monthly dividend on Wednesday, December 17th. Stockholders of record on Monday, December 29th will be given a dividend of 0.1423 per share by the bank on Monday, January 5th. This represents a c) dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Monday, December 29th. This is a 1.2% increase from Grupo Financiero Galicia’s previous monthly dividend of $0.14.

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 dividend payout ratio of 20.2% indicating that 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 $1.68 annual dividend with an expected future payout ratio of 23.1%.

Grupo Financiero Galicia Stock Performance

Shares of GGAL stock traded up $3.00 during trading hours on Thursday, hitting $52.83. 601,099 shares of the company were exchanged, compared to its average volume of 1,857,311. Grupo Financiero Galicia has a 52-week low of $25.89 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 firm has a fifty day simple moving average of $47.76 and a 200 day simple moving average of $45.64. The stock has a market capitalization of $7.79 billion, a price-to-earnings ratio of 26.66 and a beta of 1.45.

Institutional Trading of Grupo Financiero Galicia

Institutional investors and hedge funds have recently bought and sold shares of the stock. Steadtrust LLC raised its position in shares of Grupo Financiero Galicia by 98.9% in the 3rd quarter. Steadtrust LLC now owns 17,043 shares of the bank’s stock worth $470,000 after acquiring an additional 8,476 shares in the last quarter. Cantor Fitzgerald L. P. purchased a new position in Grupo Financiero Galicia in the 3rd quarter worth approximately $317,000. Carrhae Capital LLP bought a new position in Grupo Financiero Galicia in the 3rd quarter valued at approximately $8,701,000. Caitong International Asset Management Co. Ltd raised its stake in shares of Grupo Financiero Galicia by 4,942.9% in 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 last quarter. Finally, Acuitas Investments LLC bought a new position in shares of Grupo Financiero Galicia during the third quarter valued at $110,000.

Grupo Financiero Galicia Company Profile

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.