Ally Financial (NYSE:ALLY) Rating Reiterated by Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of Ally Financial (NYSE:ALLY) in a report issued on Monday, Benzinga reports. The firm currently has a $40.00 price target on the financial services provider’s stock.

A number of other brokerages have also weighed in on ALLY. Barclays decreased their price objective on shares of Ally Financial from $44.00 to $36.00 and set an “equal weight” rating for the company in a report on Thursday, September 12th. StockNews.com upgraded Ally Financial from a “sell” rating to a “hold” rating in a report on Saturday, October 19th. BTIG Research downgraded Ally Financial from a “buy” rating to a “neutral” rating in a report on Monday, September 16th. Bank of America lowered their target price on Ally Financial from $46.00 to $37.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Finally, JPMorgan Chase & Co. upgraded Ally Financial from a “neutral” rating to an “overweight” rating and cut their price target for the company from $46.00 to $40.00 in a research note on Monday, October 7th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Ally Financial presently has an average rating of “Hold” and a consensus target price of $40.38.

Ally Financial Stock Up 0.1 %

Shares of NYSE:ALLY opened at $34.49 on Monday. The firm has a market capitalization of $10.48 billion, a PE ratio of 14.08, a price-to-earnings-growth ratio of 0.42 and a beta of 1.39. The business has a 50 day simple moving average of $37.25 and a two-hundred day simple moving average of $39.04. Ally Financial has a 1 year low of $22.54 and a 1 year high of $45.46. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.92 and a quick ratio of 0.91.

Ally Financial (NYSE:ALLY) last posted its quarterly earnings data on Friday, October 18th. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.38. Ally Financial had a return on equity of 8.37% and a net margin of 10.26%. The company had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter in the previous year, the business earned $0.83 EPS. Ally Financial’s revenue was up 6.9% compared to the same quarter last year. On average, equities analysts predict that Ally Financial will post 2.87 EPS for the current year.

Ally Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.48%. The ex-dividend date is Friday, November 1st. Ally Financial’s dividend payout ratio is currently 48.98%.

Institutional Investors Weigh In On Ally Financial

Several institutional investors have recently added to or reduced their stakes in ALLY. Fifth Third Bancorp increased its holdings in shares of Ally Financial by 1.2% during the second quarter. Fifth Third Bancorp now owns 23,275 shares of the financial services provider’s stock valued at $923,000 after acquiring an additional 278 shares in the last quarter. Signet Financial Management LLC grew its position in Ally Financial by 4.8% during the 1st quarter. Signet Financial Management LLC now owns 7,273 shares of the financial services provider’s stock worth $295,000 after purchasing an additional 330 shares during the last quarter. Blue Trust Inc. increased its stake in Ally Financial by 8.2% during the 3rd quarter. Blue Trust Inc. now owns 4,660 shares of the financial services provider’s stock valued at $166,000 after purchasing an additional 352 shares in the last quarter. Allworth Financial LP raised its holdings in shares of Ally Financial by 41.9% in the third quarter. Allworth Financial LP now owns 1,426 shares of the financial services provider’s stock worth $51,000 after buying an additional 421 shares during the last quarter. Finally, Versant Capital Management Inc lifted its stake in shares of Ally Financial by 39.7% during the second quarter. Versant Capital Management Inc now owns 1,630 shares of the financial services provider’s stock worth $65,000 after buying an additional 463 shares during the period. Institutional investors and hedge funds own 88.76% of the company’s stock.

Ally Financial Company Profile

Ally Financial Inc, a digital financial-services company, provides various digital financial products and services in the United States, Canada, and Bermuda. The company operates through Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations segments.