Ally Financial (NYSE:ALLY) posted its earnings results on Thursday. The financial services provider reported $0.97 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.09, Morningstar.com reports. The business had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.53 billion. Ally Financial had a return on equity of 11.09% and a net margin of 26.59%. The company’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.83 EPS.
Shares of NYSE ALLY opened at $33.05 on Friday. Ally Financial has a 12 month low of $20.60 and a 12 month high of $33.92. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 3.03. The stock has a market capitalization of $13.13 billion, a price-to-earnings ratio of 9.90, a price-to-earnings-growth ratio of 0.65 and a beta of 1.31. The stock’s 50-day simple moving average is $30.52.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 2.06%. The ex-dividend date of this dividend is Wednesday, July 31st. Ally Financial’s payout ratio is 20.36%.
A number of institutional investors and hedge funds have recently modified their holdings of ALLY. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Ally Financial in the first quarter valued at approximately $31,000. Carroll Financial Associates Inc. bought a new stake in Ally Financial in the second quarter valued at approximately $40,000. Truvestments Capital LLC bought a new stake in Ally Financial in the first quarter valued at approximately $74,000. Private Capital Group LLC lifted its position in Ally Financial by 69.8% in the first quarter. Private Capital Group LLC now owns 3,090 shares of the financial services provider’s stock valued at $85,000 after purchasing an additional 1,270 shares during the last quarter. Finally, Bessemer Group Inc. lifted its position in Ally Financial by 68.3% in the fourth quarter. Bessemer Group Inc. now owns 7,895 shares of the financial services provider’s stock valued at $179,000 after purchasing an additional 3,204 shares during the last quarter. 97.04% of the stock is owned by institutional investors and hedge funds.
A number of research firms have weighed in on ALLY. Nomura lifted their target price on Ally Financial from $29.00 to $34.00 and gave the company a “neutral” rating in a report on Friday. Zacks Investment Research lowered EXACT Sciences from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. BTIG Research lifted their target price on Ally Financial to $39.00 and gave the company a “buy” rating in a report on Friday. Oppenheimer set a $119.00 target price on American Express and gave the company a “buy” rating in a report on Wednesday, April 17th. Finally, Morgan Stanley lowered Silicon Motion Technology from an “equal weight” rating to an “underweight” rating in a report on Monday, April 22nd. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $34.42.
Ally Financial declared that its Board of Directors has approved a stock buyback program on Monday, April 1st that allows the company to buyback $1.25 billion in shares. This buyback authorization allows the financial services provider to reacquire up to 10.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.
About Ally Financial
Ally Financial Inc provides various financial products and services to consumers, businesses, automotive dealers, and corporate customers primarily in the United States and Canada. It operates through Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations segments.
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