Ally Financial Inc (ALLY) Sees Significant Decrease in Short Interest

Ally Financial Inc (NYSE:ALLY) was the recipient of a large drop in short interest in the month of January. As of January 31st, there was short interest totalling 10,884,953 shares, a drop of 24.4% from the January 12th total of 14,400,198 shares. Based on an average daily trading volume, of 4,113,817 shares, the short-interest ratio is currently 2.6 days. Approximately 2.5% of the shares of the stock are short sold.

Several equities analysts have commented on the stock. Oppenheimer set a $38.00 target price on shares of Ally Financial and gave the company a “buy” rating in a research note on Tuesday, January 30th. BMO Capital Markets cut shares of Ally Financial from an “outperform” rating to a “market perform” rating and set a $32.00 target price on the stock. in a research note on Wednesday, January 31st. Wells Fargo & Co reissued an “outperform” rating and set a $35.00 target price (up previously from $30.00) on shares of Ally Financial in a research note on Wednesday, January 31st. Credit Suisse Group raised their target price on shares of Ally Financial from $32.00 to $34.00 and gave the company an “outperform” rating in a research note on Wednesday, January 31st. Finally, Morgan Stanley raised their target price on shares of Ally Financial from $28.00 to $34.00 and gave the company an “overweight” rating in a research note on Wednesday, January 31st. One analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $32.56.

Several institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. boosted its holdings in shares of Ally Financial by 3.7% in the fourth quarter. BlackRock Inc. now owns 22,672,615 shares of the financial services provider’s stock worth $661,134,000 after buying an additional 813,594 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Ally Financial by 7.2% in the third quarter. JPMorgan Chase & Co. now owns 18,536,031 shares of the financial services provider’s stock worth $442,825,000 after buying an additional 1,251,678 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Ally Financial by 91.7% in the fourth quarter. Bank of New York Mellon Corp now owns 16,650,942 shares of the financial services provider’s stock worth $485,541,000 after buying an additional 7,967,206 shares during the period. King Street Capital Management L.P. boosted its holdings in shares of Ally Financial by 40.5% in the third quarter. King Street Capital Management L.P. now owns 6,933,000 shares of the financial services provider’s stock worth $168,195,000 after buying an additional 2,000,000 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Ally Financial by 2.7% in the third quarter. Dimensional Fund Advisors LP now owns 6,814,886 shares of the financial services provider’s stock worth $165,315,000 after buying an additional 176,020 shares during the period.

Ally Financial (NYSE:ALLY) opened at $28.49 on Thursday. Ally Financial has a 12-month low of $18.11 and a 12-month high of $31.29. The company has a debt-to-equity ratio of 3.32, a quick ratio of 1.21 and a current ratio of 1.21. The firm has a market cap of $12,600.00, a PE ratio of 14.03, a PEG ratio of 0.73 and a beta of 1.39.

Ally Financial (NYSE:ALLY) last posted its quarterly earnings data on Tuesday, January 30th. The financial services provider reported $0.70 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.11. Ally Financial had a net margin of 13.73% and a return on equity of 8.10%. The company had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same quarter last year, the firm posted $0.54 EPS. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. sell-side analysts expect that Ally Financial will post 3.02 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Thursday, February 1st will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.83%. This is a boost from Ally Financial’s previous quarterly dividend of $0.12. The ex-dividend date is Wednesday, January 31st. Ally Financial’s dividend payout ratio (DPR) is presently 25.62%.

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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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