Grupo Financiero Galicia S.A. (GGAL) to Issue Monthly Dividend of $0.15 on February 9th

Grupo Financiero Galicia S.A. (NASDAQ:GGAL) declared a monthly dividend on Wednesday, January 21st. Investors of record on Monday, February 2nd will be paid a dividend of 0.1455 per share by the bank on Monday, February 9th. This represents a c) dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Monday, February 2nd. This is a 2.3% 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 20.4% indicating that its dividend is sufficiently covered by earnings. 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 $1.70 annual dividend with an expected future payout ratio of 23.4%.

Grupo Financiero Galicia Stock Performance

Grupo Financiero Galicia stock opened at $53.77 on Friday. Grupo Financiero Galicia has a one year low of $25.89 and a one year high of $71.23. The company has a market cap of $7.93 billion, a P/E ratio of 27.16 and a beta of 1.47. The business has a fifty day moving average of $52.06 and a two-hundred day moving average of $45.76.

Wall Street Analyst Weigh In

GGAL has been the topic of several recent analyst reports. JPMorgan Chase & Co. upgraded shares of Grupo Financiero Galicia from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $46.00 to $75.00 in a research report on Tuesday, October 28th. HSBC began coverage on Grupo Financiero Galicia in a report on Wednesday, October 1st. They issued a “buy” rating and a $60.00 price target on the stock. The Goldman Sachs Group upgraded Grupo Financiero Galicia to a “hold” rating in a research report on Monday, November 10th. Weiss Ratings restated a “sell (d+)” rating on shares of Grupo Financiero Galicia in a research report on Monday, December 29th. Finally, Zacks Research raised Grupo Financiero Galicia from a “strong sell” rating to a “hold” rating in a research note on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $66.25.

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.