Stephens cut shares of Ally Financial Inc. (NYSE:ALLY) from an equal weight rating to an underweight rating in a research report report published on Monday, MarketBeat reports. Stephens currently has $20.00 price target on the financial services provider’s stock, down from their previous price target of $23.00.
Other equities analysts also recently issued research reports about the company. BidaskClub upgraded Ally Financial from a hold rating to a buy rating in a research note on Monday. BMO Capital Markets reissued a buy rating and set a $26.00 target price on shares of Ally Financial in a report on Tuesday, April 25th. BTIG Research reissued a buy rating and set a $30.00 target price on shares of Ally Financial in a report on Saturday, April 22nd. Keefe, Bruyette & Woods set a $24.00 target price on shares of Ally Financial and gave the company a buy rating in a report on Thursday, April 6th. Finally, TheStreet cut shares of Ally Financial from a b- rating to a c rating in a report on Friday, March 24th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the stock. The company has a consensus rating of Buy and an average target price of $24.62.
Ally Financial (NYSE:ALLY) opened at 21.53 on Monday. Ally Financial has a 1-year low of $16.68 and a 1-year high of $23.62. The firm’s 50-day moving average price is $20.43 and its 200-day moving average price is $20.49. The company has a market cap of $10.33 billion, a price-to-earnings ratio of 10.12 and a beta of 1.39.
Ally Financial (NYSE:ALLY) last posted its quarterly earnings data on Thursday, April 27th. The financial services provider reported $0.48 EPS for the quarter, missing the consensus estimate of $0.49 by $0.01. Ally Financial had a net margin of 15.68% and a return on equity of 7.63%. The firm had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.39 billion. During the same quarter in the previous year, the company posted $0.52 EPS. Equities research analysts forecast that Ally Financial will post $2.25 EPS for the current fiscal year.
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The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Tuesday, August 1st will be issued a $0.12 dividend. The ex-dividend date of this dividend is Friday, July 28th. This represents a $0.48 annualized dividend and a dividend yield of 2.23%. This is a boost from Ally Financial’s previous quarterly dividend of $0.08. Ally Financial’s dividend payout ratio is presently 15.09%.
Ally Financial declared that its board has authorized a stock repurchase program on Wednesday, June 28th that permits the company to repurchase $760.00 million in outstanding shares. This repurchase authorization permits the financial services provider to buy up to 7.5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its stock is undervalued.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FTB Advisors Inc. boosted its position in Ally Financial by 35.8% in the first quarter. FTB Advisors Inc. now owns 5,773 shares of the financial services provider’s stock valued at $114,000 after buying an additional 1,523 shares during the last quarter. Creative Planning boosted its position in Ally Financial by 385.0% in the first quarter. Creative Planning now owns 6,299 shares of the financial services provider’s stock valued at $128,000 after buying an additional 8,509 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in Ally Financial by 668.0% in the first quarter. Tower Research Capital LLC TRC now owns 6,950 shares of the financial services provider’s stock valued at $141,000 after buying an additional 6,045 shares during the last quarter. First Mercantile Trust Co. boosted its position in Ally Financial by 27.3% in the first quarter. First Mercantile Trust Co. now owns 9,800 shares of the financial services provider’s stock valued at $199,000 after buying an additional 2,100 shares during the last quarter. Finally, Capstone Asset Management Co. purchased a new position in Ally Financial during the second quarter valued at $208,000. 98.81% of the stock is currently owned by hedge funds and other institutional investors.
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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