Ally Financial Inc. (NYSE:ALLY) Declares Quarterly Dividend of $0.30

Ally Financial Inc. (NYSE:ALLY) declared a quarterly dividend on Tuesday, July 16th, NASDAQ reports. Shareholders of record on Thursday, August 1st will be paid a dividend of 0.30 per share by the financial services provider on Thursday, August 15th. This represents a $1.20 annualized dividend and a yield of 2.72%. The ex-dividend date is Wednesday, July 31st.

Ally Financial has raised its dividend by an average of 16.5% annually over the last three years. Ally Financial has a payout ratio of 21.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Ally Financial to earn $5.60 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 21.4%.

Ally Financial Stock Up 0.4 %

Shares of NYSE ALLY opened at $44.17 on Tuesday. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 1.39. The company has a market cap of $13.43 billion, a price-to-earnings ratio of 18.03, a PEG ratio of 0.43 and a beta of 1.42. Ally Financial has a 12 month low of $22.54 and a 12 month high of $44.50. The stock has a 50-day moving average price of $40.33 and a two-hundred day moving average price of $38.60.

Ally Financial (NYSE:ALLY) last issued its earnings results on Wednesday, July 17th. The financial services provider reported $0.97 EPS for the quarter, topping the consensus estimate of $0.64 by $0.33. The firm had revenue of $2 billion during the quarter, compared to the consensus estimate of $2.03 billion. Ally Financial had a return on equity of 8.37% and a net margin of 10.26%. The business’s quarterly revenue was down 3.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.96 earnings per share. As a group, analysts forecast that Ally Financial will post 3.42 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently commented on ALLY shares. Compass Point upped their target price on Ally Financial from $28.00 to $37.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. JPMorgan Chase & Co. upgraded Ally Financial from an “underweight” rating to a “neutral” rating and increased their price target for the stock from $39.00 to $45.00 in a report on Monday, July 8th. Morgan Stanley increased their price target on Ally Financial from $47.00 to $49.00 and gave the stock an “overweight” rating in a report on Thursday, July 18th. BTIG Research assumed coverage on Ally Financial in a report on Friday, June 7th. They set a “buy” rating and a $51.00 price target on the stock. Finally, Evercore ISI increased their price target on Ally Financial from $43.00 to $45.00 and gave the stock an “in-line” rating in a report on Tuesday, June 25th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $42.78.

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.