Ally Financial Inc. (NYSE:ALLY) Receives Average Recommendation of “Buy” from Brokerages
Ally Financial Inc. (NYSE:ALLY) has received a consensus recommendation of “Buy” from the nineteen analysts that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and thirteen have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $25.64.
A number of research firms recently commented on ALLY. BidaskClub raised Ally Financial from a “hold” rating to a “buy” rating in a research note on Wednesday, August 2nd. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $31.00 price objective (up previously from $30.00) on shares of Ally Financial in a research note on Sunday, July 30th. Piper Jaffray Companies reaffirmed a “buy” rating on shares of Ally Financial in a research note on Friday, July 28th. TheStreet raised Ally Financial from a “c” rating to a “b-” rating in a research note on Wednesday, July 19th. Finally, Stephens lowered Ally Financial from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $23.00 to $20.00 in a research note on Monday, July 17th.
Ally Financial (NYSE:ALLY) traded down 0.50% on Friday, hitting $22.01. The stock had a trading volume of 3,910,485 shares. The stock has a market cap of $10.56 billion, a price-to-earnings ratio of 11.22 and a beta of 1.42. The stock’s 50 day moving average is $21.71 and its 200 day moving average is $20.80. Ally Financial has a one year low of $16.68 and a one year high of $23.62.
Ally Financial (NYSE:ALLY) last posted its quarterly earnings data on Thursday, July 27th. The financial services provider reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.05. The business had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.42 billion. Ally Financial had a return on equity of 7.55% and a net margin of 13.83%. During the same quarter last year, the company earned $0.54 earnings per share. Analysts anticipate that Ally Financial will post $2.27 earnings per share for the current year.
Ally Financial declared that its board has authorized a stock buyback program on Wednesday, June 28th that allows the company to buyback $760.00 million in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 7.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Tuesday, August 1st will be given a dividend of $0.12 per share. The ex-dividend date is Friday, July 28th. This is an increase from Ally Financial’s previous quarterly dividend of $0.08. This represents a $0.48 annualized dividend and a yield of 2.18%. Ally Financial’s dividend payout ratio is 24.49%.
A number of institutional investors have recently added to or reduced their stakes in ALLY. FTB Advisors Inc. increased 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 period. Creative Planning increased 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 period. Tower Research Capital LLC TRC increased 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 period. First Mercantile Trust Co. increased 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 period. Finally, Capstone Asset Management Co. acquired a new position in Ally Financial during the second quarter valued at $208,000.
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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