Ally Financial (NYSE:ALLY) Sees Large Volume Increase on Earnings Beat

Ally Financial Inc. (NYSE:ALLYGet Free Report) shares saw unusually-high trading volume on Friday following a better than expected earnings announcement. Approximately 1,406,955 shares traded hands during trading, a decline of 64% from the previous session’s volume of 3,935,096 shares.The stock last traded at $39.03 and had previously closed at $38.71.

The financial services provider reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.12. 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 for the quarter, compared to analyst estimates of $1.96 billion. During the same quarter last year, the company earned $0.82 EPS. The business’s quarterly revenue was down 5.4% on a year-over-year basis.

Ally Financial Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ALLY. Wells Fargo & Company raised their price target on Ally Financial from $29.00 to $33.00 and gave the stock an “underweight” rating in a research note on Wednesday, April 10th. JPMorgan Chase & Co. downgraded Ally Financial from a “neutral” rating to an “underweight” rating and lifted their target price for the company from $37.00 to $39.00 in a research note on Wednesday, April 3rd. Bank of America upgraded Ally Financial from a “neutral” rating to a “buy” rating and lifted their price target for the company from $42.00 to $46.00 in a research note on Tuesday, April 9th. Evercore ISI lifted their price target on Ally Financial from $41.00 to $43.00 and gave the company an “in-line” rating in a research note on Thursday, March 28th. Finally, StockNews.com raised Ally Financial from a “sell” rating to a “hold” rating in a report on Wednesday. Four 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $38.47.

Check Out Our Latest Analysis on Ally Financial

Hedge Funds Weigh In On Ally Financial

Several large investors have recently added to or reduced their stakes in ALLY. Salem Investment Counselors Inc. lifted its stake in Ally Financial by 115.0% in the first quarter. Salem Investment Counselors Inc. now owns 645 shares of the financial services provider’s stock valued at $28,000 after buying an additional 345 shares during the last quarter. Rise Advisors LLC bought a new stake in Ally Financial in the first quarter valued at $32,000. Northwest Financial Advisors bought a new stake in Ally Financial in the fourth quarter valued at $31,000. Quarry LP lifted its stake in Ally Financial by 165.7% in the fourth quarter. Quarry LP now owns 959 shares of the financial services provider’s stock valued at $33,000 after buying an additional 598 shares during the last quarter. Finally, NBC Securities Inc. bought a new stake in Ally Financial in the third quarter valued at $26,000. 88.76% of the stock is currently owned by institutional investors.

Ally Financial Price Performance

The company has a quick ratio of 0.90, a current ratio of 0.92 and a debt-to-equity ratio of 1.50. The company has a market capitalization of $11.87 billion, a P/E ratio of 15.94, a PEG ratio of 0.57 and a beta of 1.40. The business has a 50 day simple moving average of $37.71 and a 200-day simple moving average of $32.97.

Ally Financial Company Profile

(Get Free Report)

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.

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