Comerica Bank Reduces Stock Holdings in Ally Financial Inc. $ALLY

Key Points

• Comerica Bank has decreased its stake in Ally Financial Inc. by 4.0%, owning 175,694 shares valued at approximately $6.4 million after selling 7,355 shares in the first quarter.
• Ally Financial reported a quarterly earnings per share of $0.99, exceeding the consensus estimate by $0.21, with revenues reaching $2.08 billion, above analysts' expectations of $2.03 billion.
• The company recently announced a quarterly dividend of $0.30 per share, representing an annualized yield of 2.9% and a payout ratio of 77.92%.

Comerica Bank decreased its stake in Ally Financial Inc. (NYSE:ALLY - Free Report) by 4.0% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 175,694 shares of the financial services provider's stock after selling 7,355 shares during the quarter. Comerica Bank owned about 0.06% of Ally Financial worth $6,408,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Dimensional Fund Advisors LP boosted its holdings in Ally Financial by 1.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 8,797,505 shares of the financial services provider's stock valued at $320,855,000 after acquiring an additional 134,113 shares during the period. Wellington Management Group LLP purchased a new position in Ally Financial during the 1st quarter valued at $253,881,000. First Manhattan CO. LLC. boosted its holdings in Ally Financial by 4.8% during the 4th quarter. First Manhattan CO. LLC. now owns 4,226,639 shares of the financial services provider's stock valued at $153,752,000 after acquiring an additional 192,295 shares during the period. Jacobs Levy Equity Management Inc. boosted its holdings in Ally Financial by 84.0% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 4,202,179 shares of the financial services provider's stock valued at $151,320,000 after acquiring an additional 1,918,965 shares during the period. Finally, Northern Trust Corp boosted its holdings in Ally Financial by 28.0% during the 4th quarter. Northern Trust Corp now owns 3,941,459 shares of the financial services provider's stock valued at $141,932,000 after acquiring an additional 863,052 shares during the period. Hedge funds and other institutional investors own 88.76% of the company's stock.

Ally Financial Stock Down 1.4%

Shares of ALLY traded down $0.57 during trading hours on Tuesday, hitting $40.48. The company had a trading volume of 1,064,449 shares, compared to its average volume of 3,841,281. The company has a market capitalization of $12.46 billion, a PE ratio of 26.26, a price-to-earnings-growth ratio of 0.32 and a beta of 1.13. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.30. Ally Financial Inc. has a one year low of $29.52 and a one year high of $43.12. The company's fifty day moving average price is $39.21 and its two-hundred day moving average price is $36.39.

Ally Financial (NYSE:ALLY - Get Free Report) last announced its earnings results on Friday, July 18th. The financial services provider reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.21. Ally Financial had a return on equity of 9.48% and a net margin of 7.64%.The firm had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the previous year, the business earned $0.97 EPS. The firm's revenue for the quarter was up 3.0% on a year-over-year basis. As a group, equities analysts forecast that Ally Financial Inc. will post 3.57 earnings per share for the current fiscal year.

Ally Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.0%. The ex-dividend date was Friday, August 1st. Ally Financial's payout ratio is 77.92%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. BTIG Research upgraded Ally Financial from a "sell" rating to a "neutral" rating in a report on Monday, July 14th. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Ally Financial in a research report on Monday, July 14th. Citigroup reaffirmed a "buy" rating and set a $59.00 target price (up from $55.00) on shares of Ally Financial in a research report on Wednesday, July 2nd. Wall Street Zen raised Ally Financial from a "sell" rating to a "hold" rating in a research report on Friday, May 23rd. Finally, JPMorgan Chase & Co. lifted their target price on Ally Financial from $44.00 to $45.00 and gave the company an "overweight" rating in a research report on Monday, July 21st. Nine analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Ally Financial has a consensus rating of "Moderate Buy" and a consensus price target of $43.67.

Ally Financial Profile

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.