Ally Financial (NYSE:ALLY) Posts Quarterly Earnings Results, Beats Expectations By $0.15 EPS

Ally Financial (NYSE:ALLY) posted its quarterly earnings data on Thursday. The financial services provider reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.15, Zacks reports. Ally Financial had a return on equity of 9.31% and a net margin of 11.29%. The business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $2.04 billion. During the same quarter last year, the company earned $0.45 earnings per share.

Ally Financial Stock Performance

Ally Financial stock opened at $31.61 on Friday. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.93 and a current ratio of 0.93. Ally Financial has a one year low of $29.52 and a one year high of $45.46. The stock’s 50 day moving average price is $35.14 and its 200 day moving average price is $36.18. The firm has a market capitalization of $9.71 billion, a PE ratio of 12.16, a price-to-earnings-growth ratio of 0.32 and a beta of 1.12.

Ally Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 1st will be issued a dividend of $0.30 per share. The ex-dividend date is Thursday, May 1st. This represents a $1.20 annualized dividend and a dividend yield of 3.80%. Ally Financial’s payout ratio is currently 88.24%.

Insider Activity

In other Ally Financial news, CEO Michael George Rhodes bought 25,634 shares of the company’s stock in a transaction dated Monday, January 27th. The shares were acquired at an average cost of $39.09 per share, with a total value of $1,002,033.06. Following the completion of the transaction, the chief executive officer now owns 25,634 shares in the company, valued at $1,002,033.06. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Russell E. Hutchinson purchased 19,100 shares of Ally Financial stock in a transaction that occurred on Friday, January 24th. The stock was acquired at an average cost of $39.45 per share, with a total value of $753,495.00. Following the acquisition, the chief financial officer now directly owns 202,845 shares of the company’s stock, valued at $8,002,235.25. The trade was a 10.39 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.67% of the company’s stock.

Analyst Upgrades and Downgrades

ALLY has been the subject of a number of recent research reports. JPMorgan Chase & Co. lowered their price target on shares of Ally Financial from $43.00 to $36.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Compass Point upgraded Ally Financial from a “neutral” rating to a “buy” rating and boosted their price target for the company from $37.00 to $41.00 in a report on Monday, April 7th. The Goldman Sachs Group raised their price objective on Ally Financial from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, April 1st. Royal Bank of Canada reduced their target price on Ally Financial from $45.00 to $40.00 and set an “outperform” rating on the stock in a research report on Monday, April 14th. The firm anticipates consistent though seasonally-driven fundamental trends, with lower loans and volumes in the quarter, the analyst tells investors in a research note. RBC also expects stable credit trends, with improvement in year over year delinquencies for most names, warning however that Q1 loan loss provisions and reserve levels may reflect the recent more uncertain environment. Finally, Barclays lifted their price target on Ally Financial from $36.00 to $44.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $41.76.

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.