Ally Financial Inc. (NYSE:ALLY - Get Free Report)'s stock price gapped up before the market opened on Friday following a stronger than expected earnings report. The stock had previously closed at $38.45, but opened at $40.00. Ally Financial shares last traded at $39.14, with a volume of 2,349,939 shares traded.
The financial services provider reported $0.99 earnings per share (EPS) for the quarter. The business had revenue of $2.06 billion during the quarter. Ally Financial had a return on equity of 9.48% and a net margin of 7.64%.
Ally Financial Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date is Friday, October 31st. Ally Financial's dividend payout ratio (DPR) is presently 77.92%.
Wall Street Analyst Weigh In
Several brokerages recently weighed in on ALLY. Royal Bank Of Canada restated an "outperform" rating on shares of Ally Financial in a report on Monday, July 14th. Morgan Stanley boosted their price objective on shares of Ally Financial from $47.00 to $52.00 and gave the company an "overweight" rating in a research report on Monday, September 29th. JPMorgan Chase & Co. lowered their price objective on shares of Ally Financial from $45.00 to $42.00 and set an "overweight" rating for the company in a research note on Tuesday, October 7th. Evercore ISI cut their target price on Ally Financial from $45.00 to $44.00 and set an "in-line" rating on the stock in a research note on Tuesday, September 30th. Finally, Truist Financial lifted their price objective on Ally Financial from $44.00 to $45.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Nine research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat, Ally Financial currently has a consensus rating of "Moderate Buy" and an average target price of $45.14.
Get Our Latest Report on ALLY
Hedge Funds Weigh In On Ally Financial
A number of institutional investors have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC boosted its holdings in shares of Ally Financial by 100.2% during the 1st quarter. Farther Finance Advisors LLC now owns 3,990 shares of the financial services provider's stock valued at $146,000 after buying an additional 1,997 shares in the last quarter. GAMMA Investing LLC grew its holdings in Ally Financial by 40.6% in the first quarter. GAMMA Investing LLC now owns 3,295 shares of the financial services provider's stock worth $120,000 after purchasing an additional 952 shares during the period. Fifth Third Bancorp increased its stake in shares of Ally Financial by 22.3% during the first quarter. Fifth Third Bancorp now owns 2,519 shares of the financial services provider's stock valued at $92,000 after purchasing an additional 459 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Ally Financial by 42.0% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 68,693 shares of the financial services provider's stock valued at $2,505,000 after purchasing an additional 20,320 shares during the last quarter. Finally, Janney Montgomery Scott LLC boosted its position in shares of Ally Financial by 56.3% in the 1st quarter. Janney Montgomery Scott LLC now owns 67,630 shares of the financial services provider's stock worth $2,466,000 after purchasing an additional 24,372 shares in the last quarter. Institutional investors own 88.76% of the company's stock.
Ally Financial Trading Up 2.6%
The stock has a 50-day moving average of $40.35 and a two-hundred day moving average of $37.45. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.92 and a current ratio of 0.92. The company has a market cap of $12.14 billion, a P/E ratio of 25.62, a price-to-earnings-growth ratio of 0.30 and a beta of 1.18.
Ally Financial Company Profile
(
Get Free Report)
Ally Financial Inc, a digital financial-services company, provides various digital financial products and services in the United States, Canada, and Bermuda. The company operates through Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations segments.
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