Ally Financial (NYSE:ALLY) Announces Earnings Results, Beats Expectations By $0.12 EPS

Ally Financial (NYSE:ALLY) issued its quarterly earnings data on Thursday. The financial services provider reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.12, Briefing.com reports. The business had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.96 billion. Ally Financial had a return on equity of 8.35% and a net margin of 10.59%. Ally Financial’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.82 EPS.

Ally Financial Trading Up 0.9 %

NYSE:ALLY opened at $39.05 on Friday. The company has a market cap of $11.87 billion, a P/E ratio of 15.95, a P/E/G ratio of 0.57 and a beta of 1.40. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.92 and a quick ratio of 0.90. The stock’s fifty day moving average price is $37.71 and its two-hundred day moving average price is $32.92. Ally Financial has a 1 year low of $22.54 and a 1 year high of $41.56.

Ally Financial Dividend Announcement

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

Institutional Investors Weigh In On Ally Financial

Hedge funds have recently added to or reduced their stakes in the stock. Salem Investment Counselors Inc. increased its stake in shares of Ally Financial by 115.0% in the 1st quarter. Salem Investment Counselors Inc. now owns 645 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 345 shares in the last quarter. PCA Investment Advisory Services Inc. bought a new position in Ally Financial in the 2nd quarter worth $30,000. Hobbs Group Advisors LLC bought a new position in Ally Financial in the 4th quarter worth $46,000. Natixis bought a new position in Ally Financial in the 4th quarter worth $41,000. Finally, Brown Brothers Harriman & Co. boosted its holdings in Ally Financial by 618.8% in the 1st quarter. Brown Brothers Harriman & Co. now owns 1,718 shares of the financial services provider’s stock worth $75,000 after buying an additional 1,479 shares during the period. 88.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on ALLY shares. Deutsche Bank Aktiengesellschaft started coverage on Ally Financial in a report on Wednesday, January 10th. They set a “buy” rating and a $47.00 target price on the stock. TheStreet raised Ally Financial from a “c+” rating to a “b-” rating in a research note on Thursday, January 11th. Bank of America raised Ally Financial from a “neutral” rating to a “buy” rating and upped their price target for the stock from $42.00 to $46.00 in a research note on Tuesday, April 9th. StockNews.com raised Ally Financial from a “sell” rating to a “hold” rating in a research note on Wednesday. Finally, TD Cowen upped their price target on Ally Financial from $42.00 to $43.00 and gave the stock a “hold” rating in a research note on Friday. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $38.47.

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.