Ally Financial Inc. (NYSE:ALLY) Shares Purchased by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Ally Financial Inc. (NYSE:ALLY) by 0.2% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 141,494 shares of the financial services provider’s stock after purchasing an additional 276 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Ally Financial were worth $5,613,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of ALLY. Allspring Global Investments Holdings LLC raised its position in shares of Ally Financial by 510.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 629 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 526 shares during the last quarter. Transcendent Capital Group LLC acquired a new position in Ally Financial in the 1st quarter worth approximately $28,000. Northwest Financial Advisors acquired a new position in Ally Financial in the 4th quarter worth approximately $31,000. Rise Advisors LLC acquired a new position in Ally Financial in the 1st quarter worth approximately $32,000. Finally, Quarry LP increased its holdings in Ally Financial by 165.7% in the 4th quarter. Quarry LP now owns 959 shares of the financial services provider’s stock worth $33,000 after buying an additional 598 shares during the period. 88.76% of the stock is owned by hedge funds and other institutional investors.

Ally Financial Price Performance

ALLY stock traded up $0.29 during midday trading on Friday, reaching $42.75. The stock had a trading volume of 1,155,774 shares, compared to its average volume of 3,198,510. The company’s fifty day simple moving average is $41.65 and its 200 day simple moving average is $39.55. 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 $13.00 billion, a price-to-earnings ratio of 17.44, a price-to-earnings-growth ratio of 0.42 and a beta of 1.41. Ally Financial Inc. has a 52-week low of $22.54 and a 52-week high of $45.46.

Ally Financial (NYSE:ALLY) last announced its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.33. The company had revenue of $2 billion for the quarter, compared to analyst estimates of $2.03 billion. Ally Financial had a return on equity of 8.37% and a net margin of 10.26%. The firm’s revenue for the quarter was down 3.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.96 EPS. As a group, sell-side analysts predict that Ally Financial Inc. will post 3.42 earnings per share for the current fiscal year.

Ally Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st were issued a dividend of $0.30 per share. The ex-dividend date was Thursday, August 1st. This represents a $1.20 annualized dividend and a dividend yield of 2.81%. Ally Financial’s dividend payout ratio is presently 48.98%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Citigroup assumed coverage on shares of Ally Financial in a report on Monday, June 24th. They issued a “buy” rating and a $50.00 price target on the stock. JPMorgan Chase & Co. upgraded shares of 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 raised their price objective on shares of Ally Financial from $47.00 to $49.00 and gave the stock an “overweight” rating in a research note on Thursday, July 18th. BTIG Research assumed coverage on shares of Ally Financial in a research note on Friday, June 7th. They set a “buy” rating and a $51.00 price objective on the stock. Finally, Wells Fargo & Company raised their price objective on shares of Ally Financial from $33.00 to $37.00 and gave the stock an “underweight” rating in a research note on Thursday, July 18th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Ally Financial currently has a consensus rating of “Hold” and an average target price of $42.78.

Ally Financial 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.