Citigroup Inc. initiated coverage on shares of Ally Financial Inc. (NYSE:ALLY) in a research note published on Monday, October 16th, Marketbeat reports. The firm issued a buy rating and a $30.00 price target on the financial services provider’s stock.
Other equities analysts have also issued research reports about the company. TheStreet raised 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 report on Friday, September 1st. BMO Capital Markets restated a buy rating and set a $26.00 price target on shares of Ally Financial in a report on Friday, August 25th. Jefferies Group LLC restated a buy rating and set a $28.00 price target on shares of Ally Financial in a report on Wednesday, August 23rd. Finally, BidaskClub upgraded Ally Financial from a hold rating to a buy rating in a report on Wednesday, August 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company. The stock currently has an average rating of Buy and a consensus price target of $26.71.
Shares of Ally Financial (ALLY) traded up 0.19% during trading on Monday, hitting $26.07. 599,521 shares of the stock were exchanged. The firm has a 50 day moving average price of $23.74 and a 200 day moving average price of $21.49. Ally Financial has a 52 week low of $16.68 and a 52 week high of $26.16. The firm has a market capitalization of $12.51 billion, a P/E ratio of 13.29 and a beta of 1.44.
Ally Financial (NYSE:ALLY) last announced its quarterly earnings data on Wednesday, October 25th. The financial services provider reported $0.65 EPS for the quarter, beating the consensus estimate of $0.57 by $0.08. The business had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.46 billion. Ally Financial had a return on equity of 7.74% and a net margin of 14.75%. During the same quarter last year, the firm posted $0.56 earnings per share. Analysts forecast that Ally Financial will post $2.27 EPS for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Wednesday, November 1st will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, October 31st. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.84%. Ally Financial’s payout ratio is currently 22.22%.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Chicago Equity Partners LLC lifted its holdings in Ally Financial by 104.6% in the 2nd quarter. Chicago Equity Partners LLC now owns 213,495 shares of the financial services provider’s stock worth $4,462,000 after purchasing an additional 109,145 shares in the last quarter. Banced Corp lifted its holdings in Ally Financial by 5.3% in the 2nd quarter. Banced Corp now owns 22,661 shares of the financial services provider’s stock worth $474,000 after purchasing an additional 1,139 shares in the last quarter. Capstone Asset Management Co. purchased a new position in Ally Financial in the 2nd quarter worth approximately $208,000. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in Ally Financial by 6.4% in the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 940,837 shares of the financial services provider’s stock worth $19,663,000 after purchasing an additional 56,337 shares in the last quarter. Finally, Federated Investors Inc. PA lifted its holdings 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 worth $13,514,000 after purchasing an additional 43,335 shares in the last quarter.
Ally Financial Company Profile
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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