Jefferies Group LLC restated their buy rating on shares of Ally Financial Inc. (NYSE:ALLY) in a research note published on Wednesday morning. The firm currently has a $28.00 target price on the financial services provider’s stock.
ALLY has been the topic of several other reports. BidaskClub downgraded Ally Financial from a buy rating to a hold rating in a research note on Sunday, July 23rd. Stephens downgraded Ally Financial from an equal weight rating to an underweight rating and lowered their target price for the company from $23.00 to $20.00 in a research note on Monday, July 17th. BMO Capital Markets reiterated a buy rating and issued a $26.00 target price on shares of Ally Financial in a research note on Tuesday, April 25th. Sanford C. Bernstein reiterated an outperform rating and issued a $31.00 target price (up from $30.00) on shares of Ally Financial in a research note on Sunday, July 30th. Finally, TheStreet upgraded Ally Financial from a c rating to a b- rating in a research note on Wednesday, July 19th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the stock. Ally Financial presently has an average rating of Buy and an average target price of $25.23.
Shares of Ally Financial (NYSE ALLY) traded down 0.09% during trading on Wednesday, hitting $22.51. 303,170 shares of the stock traded hands. Ally Financial has a 52-week low of $16.68 and a 52-week high of $23.62. The firm has a market cap of $10.80 billion, a price-to-earnings ratio of 11.47 and a beta of 1.42. The stock has a 50 day moving average of $21.99 and a 200 day moving average of $20.90.
Ally Financial (NYSE:ALLY) last announced its earnings results on Thursday, July 27th. The financial services provider reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.05. Ally Financial had a return on equity of 7.55% and a net margin of 13.83%. The company had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same period last year, the business posted $0.54 EPS. Analysts expect that Ally Financial will post $2.27 EPS for the current year.
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The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Tuesday, August 1st were issued a $0.12 dividend. This is a boost from Ally Financial’s previous quarterly dividend of $0.08. This represents a $0.48 annualized dividend and a dividend yield of 2.13%. The ex-dividend date was Friday, July 28th. Ally Financial’s dividend payout ratio (DPR) is currently 24.49%.
Ally Financial announced that its board has approved a stock 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 repurchase up to 7.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
Several hedge funds have recently bought and sold shares of the stock. FTB Advisors Inc. boosted its stake 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 in the last quarter. Toronto Dominion Bank boosted its position in shares of Ally Financial by 23.0% in the second quarter. Toronto Dominion Bank now owns 5,714 shares of the financial services provider’s stock valued at $119,000 after buying an additional 1,070 shares in the last quarter. Creative Planning boosted its position 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 valued at $128,000 after buying an additional 8,509 shares in the last quarter. Tower Research Capital LLC TRC boosted its position 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 valued at $141,000 after buying an additional 6,045 shares in the last quarter. Finally, First Mercantile Trust Co. boosted its position 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 valued at $199,000 after buying an additional 2,100 shares in the last quarter.
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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