Ally Financial (NYSE:ALLY) Issues Quarterly Earnings Results

by · The Cerbat Gem

Ally Financial (NYSE:ALLY – Get Free Report) posted its quarterly earnings results on Tuesday. The financial services provider reported $1.34 EPS for the quarter, topping the consensus estimate of $1.33 by $0.01, FiscalAI reports. Ally Financial had a net margin of 16.75% and a return on equity of 11.75%. The business had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.30 billion.

Ally Financial Price Performance

ALLY stock opened at $37.39 on Tuesday. The business has a 50 day moving average price of $40.68 and a 200 day moving average price of $42.69. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. The stock has a market cap of $11.37 billion, a price-to-earnings ratio of 8.26, a PEG ratio of 0.28 and a beta of 1.11. Ally Financial has a fifty-two week low of $35.92 and a fifty-two week high of $47.29.

Ally Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Monday, November 2nd will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, November 2nd. This represents a $1.40 annualized dividend and a dividend yield of 3.7%. This is an increase from Ally Financial’s previous quarterly dividend of $0.30. Ally Financial’s payout ratio is currently 28.30%.

Analysts Set New Price Targets

ALLY has been the topic of several analyst reports. UBS Group reduced their price objective on Ally Financial from $54.00 to $50.00 and set a “buy” rating on the stock in a research note on Monday, October 5th. The Goldman Sachs Group set a $45.00 target price on Ally Financial in a research note on Tuesday, October 6th. Raymond James Financial lowered their target price on Ally Financial from $55.00 to $52.00 and set a “strong-buy” rating for the company in a research note on Tuesday, October 6th. Wells Fargo & Company downgraded Ally Financial from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $55.00 to $42.00 in a report on Wednesday, September 30th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $43.00 price target (down from $55.00) on shares of Ally Financial in a research report on Monday, October 12th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Ally Financial currently has an average rating of “Moderate Buy” and a consensus target price of $50.00.

View Our Latest Analysis on ALLY

Insider Activity at Ally Financial

In related news, insider Stephanie Richard sold 5,000 shares of the stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $44.23, for a total value of $221,150.00. Following the transaction, the insider directly owned 88,927 shares of the company’s stock, valued at $3,933,241.21. This trade represents a 5.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.46% of the stock is owned by company insiders.

About Ally Financial

(Get Free Report)

Ally Financial Inc is a digital financial services company headquartered in Detroit, Michigan, and traded on the New York Stock Exchange under the symbol ALLY. The company primarily serves consumers, automotive dealers and businesses in the United States through online and branchless banking and financing platforms.

Ally’s automotive finance business provides retail installment loans and leases to consumers and floorplan financing and other services to automotive dealers. Its consumer banking operations, conducted through Ally Bank, offer deposit products such as savings accounts, money market accounts and certificates of deposit, along with consumer lending products.

The company also provides credit cards and commercial financing, and offers investment and brokerage services through Ally Invest.

Read More