Grupo Financiero Galicia (NASDAQ:GGAL) Announces Earnings Results, Misses Expectations By $0.10 EPS

by · The Markets Daily

Grupo Financiero Galicia (NASDAQ:GGALGet Free Report) issued its earnings results on Tuesday. The bank reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.10), Zacks reports. Grupo Financiero Galicia had a return on equity of 22.73% and a net margin of 8.89%.

Grupo Financiero Galicia Trading Up 4.5%

Shares of GGAL stock traded up $2.09 during mid-day trading on Tuesday, hitting $48.89. The company’s stock had a trading volume of 1,924,641 shares, compared to its average volume of 1,893,765. The company has a market cap of $7.21 billion, a PE ratio of 25.73 and a beta of 1.58. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.16. The company’s fifty day simple moving average is $40.48 and its 200-day simple moving average is $46.85. Grupo Financiero Galicia has a 52 week low of $25.89 and a 52 week high of $74.00.

Grupo Financiero Galicia Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, December 8th. Stockholders of record on Monday, December 1st will be given a $0.1406 dividend. This is a boost from Grupo Financiero Galicia’s previous monthly dividend of $0.13. The ex-dividend date of this dividend is Monday, December 1st. This represents a c) annualized dividend and a dividend yield of 3.5%. Grupo Financiero Galicia’s dividend payout ratio is 88.42%.

Institutional Investors Weigh In On Grupo Financiero Galicia

A number of hedge funds have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd lifted its stake 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 valued at $58,000 after buying an additional 2,076 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Grupo Financiero Galicia in the 2nd quarter valued at $151,000. Orion Porfolio Solutions LLC acquired a new position in shares of Grupo Financiero Galicia during the 2nd quarter valued at $386,000. Scientech Research LLC acquired a new position in shares of Grupo Financiero Galicia during the 3rd quarter valued at $230,000. Finally, Osaic Holdings Inc. bought a new position in Grupo Financiero Galicia during the second quarter worth $439,000.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on GGAL. Wall Street Zen cut Grupo Financiero Galicia from a “hold” rating to a “sell” rating in a report on Friday, September 26th. Citigroup raised shares of Grupo Financiero Galicia from a “neutral” rating to a “buy” rating in a report on Monday, November 3rd. Zacks Research downgraded shares of Grupo Financiero Galicia from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 28th. JPMorgan Chase & Co. upgraded shares of Grupo Financiero Galicia from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $46.00 to $75.00 in a report on Tuesday, October 28th. Finally, HSBC began coverage on shares of Grupo Financiero Galicia in a research note on Wednesday, October 1st. They issued a “buy” rating and a $60.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Grupo Financiero Galicia currently has a consensus rating of “Moderate Buy” and an average price target of $71.40.

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About Grupo Financiero Galicia

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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. 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.

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