Ally Financial Inc. (NYSE:ALLY – Get Free Report)’s stock price gapped down before the market opened on Wednesday after Bank of America lowered their price target on the stock from $30.00 to $28.00. The stock had previously closed at $25.96, but opened at $24.99. Ally Financial shares last traded at $25.17, with a volume of 1,303,337 shares trading hands.
Several other equities research analysts have also recently issued reports on ALLY. Odeon Capital Group assumed coverage on Ally Financial in a report on Monday, June 12th. They set a “sell” rating and a $25.00 price objective on the stock. The Goldman Sachs Group reduced their target price on Ally Financial from $32.00 to $31.00 in a report on Monday, October 2nd. Piper Sandler lifted their target price on Ally Financial from $30.00 to $31.00 and gave the company a “neutral” rating in a report on Friday, September 29th. StockNews.com assumed coverage on Ally Financial in a research report on Thursday, October 5th. They set a “hold” rating on the stock. Finally, Wolfe Research lowered Ally Financial from an “outperform” rating to a “peer perform” rating in a research report on Thursday, August 24th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $31.09.
Hedge Funds Weigh In On Ally Financial
Hedge funds and other institutional investors have recently made changes to their positions in the business. Roundview Capital LLC bought a new stake in Ally Financial during the first quarter worth approximately $242,000. Cetera Advisor Networks LLC bought a new stake in Ally Financial during the first quarter worth approximately $214,000. D.A. Davidson & CO. bought a new position in shares of Ally Financial in the first quarter valued at $261,000. MetLife Investment Management LLC bought a new position in shares of Ally Financial in the first quarter valued at $294,000. Finally, Rhumbline Advisers increased its holdings in shares of Ally Financial by 1.4% in the first quarter. Rhumbline Advisers now owns 291,312 shares of the financial services provider’s stock valued at $12,666,000 after buying an additional 4,099 shares in the last quarter. 86.04% of the stock is currently owned by institutional investors and hedge funds.
Ally Financial Price Performance
The company has a market cap of $7.62 billion, a P/E ratio of 7.10 and a beta of 1.34. The company has a fifty day simple moving average of $27.38 and a 200-day simple moving average of $27.09. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.92 and a quick ratio of 0.92.
Ally Financial (NYSE:ALLY – Get Free Report) last posted its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.02. Ally Financial had a return on equity of 12.34% and a net margin of 14.59%. The company had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.09 billion. During the same quarter in the prior year, the company earned $1.76 earnings per share. The firm’s revenue was up .1% on a year-over-year basis. On average, sell-side analysts predict that Ally Financial Inc. will post 3.28 earnings per share for the current year.
Ally Financial Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Wednesday, November 1st will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 4.75%. The ex-dividend date of this dividend is Tuesday, October 31st. Ally Financial’s dividend payout ratio (DPR) is currently 32.79%.
Ally Financial Company Profile
Ally Financial Inc, a digital financial-services company, provides various digital financial products and services to consumer, commercial, and corporate customers primarily in the United States and Canada. It operates through Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations segments.