Ally Financial (NYSE:ALLY) Shares Gap Up to $36.27

Ally Financial Inc. (NYSE:ALLY - Get Free Report) gapped up before the market opened on Thursday . The stock had previously closed at $36.27, but opened at $37.49. Ally Financial shares last traded at $38.97, with a volume of 1,024,861 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on ALLY shares. StockNews.com upgraded Ally Financial from a "sell" rating to a "hold" rating in a research note on Wednesday. JPMorgan Chase & Co. downgraded Ally Financial from a "neutral" rating to an "underweight" rating and raised their price target for the company from $37.00 to $39.00 in a research note on Wednesday, April 3rd. Evercore ISI raised their price target on Ally Financial from $41.00 to $43.00 and gave the company an "in-line" rating in a research note on Thursday, March 28th. Deutsche Bank Aktiengesellschaft initiated coverage on Ally Financial in a research report on Wednesday, January 10th. They issued a "buy" rating and a $47.00 price objective for the company. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $40.00 price objective on shares of Ally Financial in a research report on Monday, January 22nd. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $37.59.

Ally Financial Price Performance

The stock has a market capitalization of $11.77 billion, a price-to-earnings ratio of 12.95, a PEG ratio of 0.53 and a beta of 1.40. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.90 and a current ratio of 0.90. The company has a fifty day simple moving average of $37.65 and a two-hundred day simple moving average of $32.82.

Ally Financial (NYSE:ALLY - Get Free Report) last announced its quarterly earnings data on Friday, January 19th. The financial services provider reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.01. Ally Financial had a return on equity of 9.41% and a net margin of 12.42%. The firm had revenue of $2.07 billion during the quarter, compared to analysts' expectations of $1.99 billion. During the same period in the previous year, the firm earned $1.08 EPS. As a group, equities research analysts expect that Ally Financial Inc. will post 2.94 earnings per share for the current fiscal year.

Ally Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be paid a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $1.20 annualized dividend and a dividend yield of 3.10%. Ally Financial's payout ratio is 40.13%.

Hedge Funds Weigh In On Ally Financial

Several hedge funds and other institutional investors have recently modified their holdings of ALLY. NBC Securities Inc. bought a new position in shares of Ally Financial in the 3rd quarter valued at $26,000. Salem Investment Counselors Inc. grew its position in Ally Financial by 115.0% during the 1st quarter. Salem Investment Counselors Inc. now owns 645 shares of the financial services provider's stock worth $28,000 after acquiring an additional 345 shares during the last quarter. PCA Investment Advisory Services Inc. bought a new stake in Ally Financial during the 2nd quarter worth $30,000. Northwest Financial Advisors bought a new stake in Ally Financial during the 4th quarter worth $31,000. Finally, Rise Advisors LLC bought a new stake in Ally Financial during the 1st quarter worth $32,000. Institutional investors own 88.76% of the company's stock.

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.