Basswood Capital Management L.L.C. Increases Position in Ally Financial Inc. $ALLY

Basswood Capital Management L.L.C. increased its stake in Ally Financial Inc. (NYSE:ALLY) by 176.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 518,387 shares of the financial services provider’s stock after acquiring an additional 330,859 shares during the period. Basswood Capital Management L.L.C. owned about 0.17% of Ally Financial worth $23,478,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. NewSquare Capital LLC grew its position in Ally Financial by 21,520.9% in the third quarter. NewSquare Capital LLC now owns 27,891 shares of the financial services provider’s stock worth $1,093,000 after acquiring an additional 27,762 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Ally Financial in the third quarter worth $1,194,000. Prana Capital Management LP grew its position in Ally Financial by 177.3% in the third quarter. Prana Capital Management LP now owns 178,762 shares of the financial services provider’s stock worth $7,007,000 after acquiring an additional 114,305 shares in the last quarter. Danica Pension Livsforsikringsaktieselskab purchased a new position in Ally Financial in the third quarter worth $45,733,000. Finally, American Century Companies Inc. grew its position in Ally Financial by 30.9% in the third quarter. American Century Companies Inc. now owns 2,251,925 shares of the financial services provider’s stock worth $88,276,000 after acquiring an additional 531,269 shares in the last quarter. 88.76% of the stock is currently owned by hedge funds and other institutional investors.

Ally Financial Stock Performance

NYSE ALLY opened at $44.41 on Friday. The company has a 50-day simple moving average of $42.81 and a two-hundred day simple moving average of $42.29. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.31. Ally Financial Inc. has a 12-month low of $35.90 and a 12-month high of $47.27. The firm has a market cap of $13.61 billion, a price-to-earnings ratio of 10.83, a PEG ratio of 0.27 and a beta of 1.10.

Ally Financial (NYSE:ALLY) last posted its quarterly earnings results on Friday, April 17th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.18. Ally Financial had a net margin of 16.47% and a return on equity of 11.41%. The business had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.14 billion. During the same period in the prior year, the business posted $0.58 earnings per share. The company’s revenue was up 36.4% on a year-over-year basis. On average, equities analysts forecast that Ally Financial Inc. will post 5.28 EPS for the current year.

Ally Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 1st were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date was Friday, May 1st. Ally Financial’s dividend payout ratio is currently 29.27%.

Analyst Ratings Changes

ALLY has been the subject of several research reports. Morgan Stanley upped their target price on shares of Ally Financial from $53.00 to $55.00 and gave the stock an “overweight” rating in a research report on Monday, April 20th. Truist Financial set a $54.00 price target on shares of Ally Financial in a research report on Tuesday, April 21st. The Goldman Sachs Group upped their price target on shares of Ally Financial from $50.00 to $56.00 and gave the company a “buy” rating in a research report on Monday, April 20th. Weiss Ratings lowered shares of Ally Financial from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, May 26th. Finally, JPMorgan Chase & Co. cut their price target on shares of Ally Financial from $48.00 to $46.00 and set an “overweight” rating for the company in a research report on Thursday, April 9th. Fourteen investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Ally Financial currently has a consensus rating of “Moderate Buy” and an average target price of $54.14.

Insider Transactions at Ally Financial

In other news, insider Stephanie N. Richard sold 5,000 shares of the stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $42.14, for a total transaction of $210,700.00. Following the completion of the sale, the insider directly owned 93,927 shares in the company, valued at approximately $3,958,083.78. This represents a 5.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Douglas R. Timmerman sold 39,675 shares of the stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $45.17, for a total transaction of $1,792,119.75. Following the sale, the insider owned 477,627 shares of the company’s stock, valued at approximately $21,574,411.59. This represents a 7.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.46% of the company’s stock.

Ally Financial Company Profile

Ally Financial Inc is a leading digital financial services company headquartered in Detroit, Michigan. The company offers a comprehensive suite of banking, lending, and insurance products designed for retail and commercial customers. Through its online-only platform, Ally Bank provides checking and savings accounts, certificates of deposit, money market accounts, and home mortgages, emphasizing competitive rates and user-friendly mobile and web experiences.

In addition to its banking operations, Ally Financial is a major player in automotive financing and leasing.