BMO Capital Markets restated their buy rating on shares of Ally Financial Inc. (NYSE:ALLY) in a report published on Friday, August 25th. BMO Capital Markets currently has a $26.00 target price on the financial services provider’s stock.
A number of other research analysts have also issued reports on the stock. BidaskClub lowered shares of Ally Financial from a buy rating to a hold rating in a research report on Sunday, July 23rd. Stephens lowered shares of Ally Financial from an equal weight rating to an underweight rating and decreased their target price for the stock from $23.00 to $20.00 in a research report on Monday, July 17th. TheStreet upgraded shares of Ally Financial from a c rating to a b- rating in a research report on Wednesday, July 19th. Piper Jaffray Companies restated a buy rating on shares of Ally Financial in a research report on Friday, July 28th. Finally, Keefe, Bruyette & Woods restated a buy rating and set a $24.00 target price on shares of Ally Financial in a research report on Tuesday, July 4th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have issued a buy rating to the stock. The company presently has an average rating of Buy and an average target price of $25.23.
Ally Financial (NYSE ALLY) opened at 22.37 on Friday. The firm’s 50-day moving average is $22.41 and its 200-day moving average is $20.87. Ally Financial has a 52 week low of $16.68 and a 52 week high of $23.62. The company has a market cap of $10.73 billion, a PE ratio of 11.40 and a beta of 1.42.
Ally Financial (NYSE:ALLY) last announced its earnings results on Thursday, July 27th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.05. Ally Financial had a net margin of 13.83% and a return on equity of 7.55%. The firm had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same quarter in the prior year, the business posted $0.54 EPS. On average, analysts expect that Ally Financial will post $2.27 EPS for the current fiscal year.
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The company also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Tuesday, August 1st were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date was Friday, July 28th. This is an increase from Ally Financial’s previous quarterly dividend of $0.08. Ally Financial’s dividend payout ratio is 24.49%.
Ally Financial declared that its Board of Directors has approved a stock buyback plan on Wednesday, June 28th that authorizes the company to repurchase $760.00 million in shares. This repurchase authorization authorizes the financial services provider to buy up to 7.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.
Large investors have recently modified their holdings of the stock. American Century Companies Inc. bought a new position in Ally Financial in the 1st quarter valued at approximately $4,325,000. Banced Corp lifted its stake in Ally Financial by 5.3% in the 2nd quarter. Banced Corp now owns 22,661 shares of the financial services provider’s stock valued at $474,000 after purchasing an additional 1,139 shares during the last quarter. Capstone Asset Management Co. bought a new position in Ally Financial in the 2nd quarter valued at approximately $208,000. Federated Investors Inc. PA lifted its stake in Ally Financial by 7.2% in the 2nd quarter. Federated Investors Inc. PA now owns 646,612 shares of the financial services provider’s stock valued at $13,514,000 after purchasing an additional 43,335 shares during the last quarter. Finally, DnB Asset Management AS lifted its stake in Ally Financial by 29.7% in the 1st quarter. DnB Asset Management AS now owns 35,400 shares of the financial services provider’s stock valued at $720,000 after purchasing an additional 8,100 shares during the last quarter.
About Ally Financial
Ally Financial Inc is a digital financial services company. The Company is a bank and financial holding company. Its segments include Automotive Finance operations, Insurance operations, Mortgage Finance operations, Corporate Finance operations, and Corporate and Other. The Automotive Finance operations segment provides the United States-based automotive financing services to consumers and automotive dealers, and automotive and equipment financing services to companies and municipalities.
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