OLD National Bancorp IN Cuts Stock Holdings in Ally Financial Inc. $ALLY

Key Points

• OLD National Bancorp IN reduced its holdings in Ally Financial Inc. by 12.8% during the second quarter, selling 121,101 shares and retaining 821,810 shares, making it the fund's 22nd largest investment.
• Several hedge funds increased investments in Ally Financial, with Private Trust Co. NA boosting its holdings by 125.7% in the first quarter.
• Ally Financial recently declared a quarterly dividend of $0.30 per share, resulting in a 3.0% dividend yield and a payout ratio of 77.92%.

OLD National Bancorp IN trimmed its position in shares of Ally Financial Inc. (NYSE:ALLY - Free Report) by 12.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 821,810 shares of the financial services provider's stock after selling 121,101 shares during the quarter. Ally Financial accounts for approximately 0.6% of OLD National Bancorp IN's portfolio, making the stock its 22nd largest holding. OLD National Bancorp IN owned about 0.27% of Ally Financial worth $32,009,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. WPG Advisers LLC purchased a new position in Ally Financial during the 1st quarter worth $25,000. Copia Wealth Management purchased a new position in shares of Ally Financial in the 1st quarter worth about $27,000. SVB Wealth LLC purchased a new position in shares of Ally Financial in the 1st quarter worth about $27,000. Private Trust Co. NA boosted its holdings in shares of Ally Financial by 125.7% in the 1st quarter. Private Trust Co. NA now owns 914 shares of the financial services provider's stock worth $33,000 after buying an additional 509 shares during the last quarter. Finally, Bessemer Group Inc. boosted its holdings in shares of Ally Financial by 59.6% in the 1st quarter. Bessemer Group Inc. now owns 1,010 shares of the financial services provider's stock worth $37,000 after buying an additional 377 shares during the last quarter. 88.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on ALLY shares. Keefe, Bruyette & Woods cut their price target on shares of Ally Financial from $56.00 to $51.00 and set an "outperform" rating on the stock in a report on Wednesday. BTIG Research raised shares of Ally Financial from a "sell" rating to a "neutral" rating in a report on Monday, July 14th. Morgan Stanley boosted their price target on shares of Ally Financial from $47.00 to $52.00 and gave the stock an "overweight" rating in a report on Monday, September 29th. Evercore ISI cut their price target on shares of Ally Financial from $45.00 to $44.00 and set an "in-line" rating on the stock in a report on Tuesday. Finally, Wells Fargo & Company upgraded Ally Financial from an "underweight" rating to an "equal weight" rating and boosted their price objective for the company from $37.00 to $45.00 in a research note on Tuesday, September 2nd. Nine investment 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, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $45.36.

Ally Financial Trading Up 1.9%

Shares of ALLY opened at $39.58 on Friday. The business's 50-day moving average price is $40.12 and its 200-day moving average price is $37.33. Ally Financial Inc. has a twelve month low of $29.52 and a twelve month high of $44.83. The stock has a market cap of $12.18 billion, a PE ratio of 25.70, a P/E/G ratio of 0.31 and a beta of 1.18. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.30.

Ally Financial (NYSE:ALLY - Get Free Report) last announced its quarterly earnings results on Friday, July 18th. The financial services provider reported $0.99 earnings per share for the quarter, beating 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 analysts' expectations of $2.03 billion. During the same period in the prior year, the business posted $0.97 earnings per share. The company's revenue was up 3.0% on a year-over-year basis. On average, equities analysts forecast that Ally Financial Inc. will post 3.57 EPS for the current fiscal year.

Ally Financial Dividend Announcement

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

Ally Financial Company 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.

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