Ally Financial (NYSE:ALLY) Issues Quarterly Earnings Results, Beats Estimates By $0.12 EPS

Ally Financial (NYSE:ALLY) posted its earnings results on Thursday. The financial services provider reported $0.45 EPS for the quarter, topping the consensus estimate of $0.33 by $0.12, Briefing.com reports. Ally Financial had a return on equity of 8.35% and a net margin of 10.59%. The business had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.96 billion. During the same period in the previous year, the business earned $0.82 earnings per share. The firm’s revenue was down 5.4% on a year-over-year basis.

Ally Financial Trading Up 0.9 %

NYSE ALLY opened at $39.05 on Friday. The stock has a 50-day moving average of $37.71 and a 200-day moving average of $32.97. The firm has a market cap of $11.87 billion, a PE ratio of 15.94, a price-to-earnings-growth ratio of 0.57 and a beta of 1.40. The company has a current ratio of 0.92, a quick ratio of 0.90 and a debt-to-equity ratio of 1.50. Ally Financial has a 1-year low of $22.54 and a 1-year high of $41.56.

Ally Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date of this dividend is Tuesday, April 30th. Ally Financial’s dividend payout ratio (DPR) is presently 48.98%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Salem Investment Counselors Inc. raised its position in Ally Financial by 115.0% during the 1st quarter. Salem Investment Counselors Inc. now owns 645 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 345 shares during the last quarter. PCA Investment Advisory Services Inc. bought a new position in Ally Financial during the 2nd quarter valued at approximately $30,000. Natixis bought a new position in Ally Financial during the 4th quarter valued at approximately $41,000. Hobbs Group Advisors LLC bought a new position in Ally Financial during the 4th quarter valued at approximately $46,000. Finally, Harbour Investments Inc. raised its position in Ally Financial by 25.3% during the 4th quarter. Harbour Investments Inc. now owns 2,287 shares of the financial services provider’s stock valued at $56,000 after purchasing an additional 462 shares during the last quarter. Institutional investors own 88.76% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Royal Bank of Canada restated an “outperform” rating and set a $40.00 target price on shares of Ally Financial in a research report on Monday, January 22nd. Barclays boosted their target price on Ally Financial from $32.00 to $43.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 2nd. JPMorgan Chase & Co. cut Ally Financial from a “neutral” rating to an “underweight” rating and boosted their target price for the stock from $37.00 to $39.00 in a research report on Wednesday, April 3rd. Compass Point upped their price objective on Ally Financial from $28.00 to $37.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Finally, TD Cowen upped their price objective on Ally Financial from $42.00 to $43.00 and gave the stock a “hold” rating in a report on Friday. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $38.47.

About Ally Financial

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.