Ally Financial Inc. Declares Quarterly Dividend of $0.12 (ALLY)
Ally Financial Inc. (NYSE:ALLY) announced a quarterly dividend on Thursday, October 12th, Wall Street Journal reports. Investors of record on Wednesday, November 1st will be given a dividend of 0.12 per share by the financial services provider on Wednesday, November 15th. This represents a $0.48 annualized dividend and a yield of 2.00%. The ex-dividend date is Tuesday, October 31st.
Ally Financial has a payout ratio of 21.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Ally Financial to earn $2.65 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 18.1%.
Ally Financial (NYSE ALLY) traded down 1.60% during midday trading on Thursday, reaching $23.96. 4,253,853 shares of the company traded hands. Ally Financial has a 12 month low of $16.68 and a 12 month high of $24.61. The firm’s 50 day moving average price is $23.17 and its 200 day moving average price is $21.14. The firm has a market capitalization of $11.50 billion, a price-to-earnings ratio of 12.21 and a beta of 1.44.
Ally Financial (NYSE:ALLY) last issued 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 net margin of 13.83% and a return on equity of 7.55%. The business had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same period in the previous year, the business earned $0.54 EPS. On average, analysts expect that Ally Financial will post $2.26 earnings per share for the current year.
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ALLY has been the topic of several recent research reports. BidaskClub upgraded shares of Ally Financial from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 14th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $24.00 target price on shares of Ally Financial in a research report on Tuesday, July 4th. Stephens downgraded shares of Ally Financial from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $23.00 to $20.00 in a report on Monday, July 17th. TheStreet raised shares of Ally Financial from a “c” rating to a “b-” rating in a report on Wednesday, July 19th. Finally, Piper Jaffray Companies reissued a “buy” rating on shares of Ally Financial in a report on Friday, July 28th. One research analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $25.77.
Ally Financial announced that its Board of Directors has authorized a stock repurchase plan 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 repurchase up to 7.5% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.
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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