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

Grupo Financiero Galicia (NASDAQ:GGAL) issued its earnings results on Tuesday. The bank reported $0.29 earnings per share 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%.

Grupo Financiero Galicia Price Performance

NASDAQ:GGAL opened at $43.55 on Tuesday. Grupo Financiero Galicia has a 12 month low of $25.89 and a 12 month high of $63.75. The company has a quick ratio of 1.16, a current ratio of 1.13 and a debt-to-equity ratio of 0.32. The company’s 50-day moving average price is $44.35 and its two-hundred day moving average price is $48.65. The firm has a market cap of $7.00 billion, a PE ratio of 21.99, a price-to-earnings-growth ratio of 0.30 and a beta of 1.27.

Grupo Financiero Galicia Announces Dividend

The firm also recently declared a monthly dividend, which was paid on Monday, May 11th. Investors of record on Monday, May 4th were given a $0.6229 dividend. This represents a c) annualized dividend and a yield of 17.2%. The ex-dividend date of this dividend was Monday, May 4th. Grupo Financiero Galicia’s dividend payout ratio is 347.47%.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Grupo Financiero Galicia

Several institutional investors have recently modified their holdings of GGAL. Caitong International Asset Management Co. Ltd raised its holdings in Grupo Financiero Galicia by 4,942.9% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 2,118 shares of the bank’s stock worth $58,000 after buying an additional 2,076 shares during the period. State of Wyoming bought a new position in Grupo Financiero Galicia during the fourth quarter worth $74,000. Raymond James Financial Inc. acquired a new position in Grupo Financiero Galicia in the second quarter valued at about $151,000. Scientech Research LLC bought a new stake in shares of Grupo Financiero Galicia during the 3rd quarter worth $230,000. Finally, Cibc World Market Inc. bought a new stake in shares of Grupo Financiero Galicia during the 4th quarter valued at approximately $241,000.

About Grupo Financiero Galicia

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.