Grupo Financiero Galicia (NASDAQ:GGAL) Posts Quarterly Earnings Results, Misses Estimates By $0.07 EPS

Grupo Financiero Galicia (NASDAQ:GGAL) issued its earnings results on Tuesday. The bank reported $0.29 EPS for the quarter, missing the consensus estimate 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%.The firm had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.70 billion.

Grupo Financiero Galicia Trading Up 4.9%

NASDAQ GGAL opened at $48.18 on Thursday. The company has a quick ratio of 1.16, a current ratio of 1.13 and a debt-to-equity ratio of 0.32. Grupo Financiero Galicia has a twelve month low of $25.89 and a twelve month high of $62.51. The firm has a market capitalization of $7.74 billion, a PE ratio of 24.33, a P/E/G ratio of 0.32 and a beta of 1.27. The stock’s 50 day moving average is $44.60 and its 200 day moving average is $48.49.

Grupo Financiero Galicia Announces Dividend

The company also recently declared a monthly dividend, which was paid on Monday, May 11th. Investors of record on Monday, May 4th were given a dividend of $0.6229 per share. The ex-dividend date was Monday, May 4th. This represents a c) annualized dividend and a dividend yield of 15.5%. Grupo Financiero Galicia’s payout ratio is currently 347.47%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Wall Street Zen lowered Grupo Financiero Galicia from a “hold” rating to a “sell” rating in a research report on Saturday, May 23rd. Zacks Research upgraded Grupo Financiero Galicia from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 14th. JPMorgan Chase & Co. cut their price objective on 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, Weiss Ratings restated a “sell (d+)” rating on shares of Grupo Financiero Galicia in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $64.00.

Institutional Investors Weigh In On Grupo Financiero Galicia

Hedge funds have recently added to or reduced their stakes in the stock. State of Wyoming bought a new stake in Grupo Financiero Galicia in the fourth quarter worth $74,000. Caitong International Asset Management Co. Ltd boosted its holdings in 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 acquiring an additional 2,076 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Grupo Financiero Galicia in the second quarter worth $151,000. Cibc World Market Inc. bought a new stake in Grupo Financiero Galicia in the fourth quarter worth $241,000. Finally, Commonwealth Equity Services LLC bought a new stake in Grupo Financiero Galicia in the fourth quarter worth $274,000.

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.