Ally Financial (NYSE:ALLY) Announces Earnings Results

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

Ally Financial Trading Up 1.0 %

Shares of ALLY stock opened at $39.08 on Friday. Ally Financial has a fifty-two week low of $22.54 and a fifty-two week high of $41.56. The stock has a market cap of $11.88 billion, a P/E ratio of 15.95, a P/E/G ratio of 0.57 and a beta of 1.40. The business has a fifty day simple moving average of $37.71 and a 200-day simple moving average of $32.92. The company has a quick ratio of 0.90, a current ratio of 0.92 and a debt-to-equity ratio of 1.50.

Ally Financial Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have commented on ALLY. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $40.00 target price on shares of Ally Financial in a research report on Monday, January 22nd. Morgan Stanley raised shares of Ally Financial from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $37.00 to $47.00 in a research report on Thursday, February 8th. Compass Point increased their price target on shares of Ally Financial from $28.00 to $37.00 and gave the stock a “neutral” rating in a research report on Thursday, April 11th. JPMorgan Chase & Co. lowered shares of Ally Financial from a “neutral” rating to an “underweight” rating and upped their target price for the stock from $37.00 to $39.00 in a research note on Wednesday, April 3rd. Finally, BMO Capital Markets upped their target price on shares of Ally Financial from $36.00 to $37.00 and gave the stock a “market perform” rating in a research note on Friday. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $38.47.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Kinneret Advisory LLC increased its position in shares of Ally Financial by 2.3% in the first quarter. Kinneret Advisory LLC now owns 11,700 shares of the financial services provider’s stock valued at $509,000 after buying an additional 262 shares in the last quarter. Blair William & Co. IL increased its position in shares of Ally Financial by 2.6% in the first quarter. Blair William & Co. IL now owns 10,497 shares of the financial services provider’s stock valued at $456,000 after buying an additional 264 shares in the last quarter. Salem Investment Counselors Inc. increased its position in shares of 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 in the last quarter. EP Wealth Advisors LLC increased its position in shares of Ally Financial by 8.2% in the first quarter. EP Wealth Advisors LLC now owns 4,656 shares of the financial services provider’s stock valued at $202,000 after buying an additional 354 shares in the last quarter. Finally, Captrust Financial Advisors increased its position in shares of Ally Financial by 4.9% in the first quarter. Captrust Financial Advisors now owns 8,020 shares of the financial services provider’s stock valued at $349,000 after buying an additional 371 shares in the last quarter. Hedge funds and other institutional investors own 88.76% of the company’s stock.

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.