AT Bancorp reduced its stake in shares of Ally Financial Inc. (NYSE:ALLY) by 43.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,085 shares of the financial services provider’s stock after selling 24,141 shares during the period. AT Bancorp’s holdings in Ally Financial were worth $650,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in ALLY. FTB Advisors Inc. raised its stake in shares of Ally Financial by 35.8% in the first quarter. FTB Advisors Inc. now owns 5,773 shares of the financial services provider’s stock worth $114,000 after buying an additional 1,523 shares during the period. Creative Planning raised its stake in shares of Ally Financial by 385.0% in the first quarter. Creative Planning now owns 6,299 shares of the financial services provider’s stock worth $128,000 after buying an additional 8,509 shares during the period. Tower Research Capital LLC TRC raised its stake in shares of 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 worth $141,000 after buying an additional 6,045 shares during the period. First Mercantile Trust Co. raised its stake in shares of 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 worth $199,000 after buying an additional 2,100 shares during the period. Finally, Capstone Asset Management Co. purchased a new stake in shares of Ally Financial during the second quarter worth about $208,000.
Shares of Ally Financial Inc. (NYSE ALLY) traded down 0.09% during trading on Friday, hitting $22.13. 1,182,765 shares of the stock were exchanged. The stock’s 50 day moving average is $21.90 and its 200-day moving average is $20.89. Ally Financial Inc. has a 12-month low of $16.68 and a 12-month high of $23.62. The stock has a market cap of $10.62 billion, a price-to-earnings ratio of 11.28 and a beta of 1.42.
Ally Financial (NYSE:ALLY) last announced its quarterly earnings data on Thursday, July 27th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.05. Ally Financial had a net margin of 13.83% and a return on equity of 7.55%. The company had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter in the prior year, the company posted $0.54 EPS. Equities research analysts anticipate that Ally Financial Inc. will post $2.27 EPS for the current year.
Ally Financial declared that its Board of Directors has initiated a share repurchase plan on Wednesday, June 28th that allows the company to repurchase $760.00 million in shares. This repurchase authorization allows the financial services provider to reacquire up to 7.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Tuesday, August 1st were paid a $0.12 dividend. This is a boost from Ally Financial’s previous quarterly dividend of $0.08. The ex-dividend date was Friday, July 28th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.17%. Ally Financial’s dividend payout ratio is currently 24.49%.
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ALLY has been the topic of a number of analyst reports. 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. BMO Capital Markets restated a “buy” rating and set a $26.00 target price on shares of Ally Financial in a research report on Tuesday, April 25th. BTIG Research restated a “buy” rating and set a $30.00 target price on shares of Ally Financial in a research report on Saturday, April 22nd. 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 equities research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the company. Ally Financial currently has an average rating of “Buy” and a consensus price target of $25.07.
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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