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

Ally Financial Inc. (NYSE:ALLY) declared a quarterly dividend on Wednesday, October 9th, NASDAQ reports. Stockholders of record on Friday, November 1st will be given a dividend of 0.30 per share by the financial services provider on Friday, November 15th. This represents a $1.20 annualized dividend and a dividend yield of 3.32%. The ex-dividend date is Friday, November 1st.

Ally Financial has raised its dividend payment by an average of 16.5% annually over the last three years. Ally Financial has a dividend payout ratio of 28.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Ally Financial to earn $4.86 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 24.7%.

Ally Financial Stock Performance

Shares of NYSE ALLY opened at $36.12 on Thursday. The firm’s fifty day moving average is $36.55 and its two-hundred day moving average is $38.93. Ally Financial has a 52-week low of $23.52 and a 52-week high of $45.46. The company has a market cap of $10.98 billion, a P/E ratio of 14.74, a P/E/G ratio of 0.42 and a beta of 1.39. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.91 and a current ratio of 0.92.

Ally Financial (NYSE:ALLY) last released its quarterly earnings data on Friday, October 18th. The financial services provider reported $0.95 EPS for the quarter, beating the consensus estimate of $0.57 by $0.38. The business had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.03 billion. Ally Financial had a net margin of 10.26% and a return on equity of 8.37%. Ally Financial’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.83 earnings per share. As a group, analysts anticipate that Ally Financial will post 2.87 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $40.00 target price on shares of Ally Financial in a research note on Monday, October 21st. StockNews.com raised Ally Financial from a “sell” rating to a “hold” rating in a research report on Saturday, October 19th. Bank of America decreased their price objective on Ally Financial from $46.00 to $37.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Barclays cut their price objective on shares of Ally Financial from $44.00 to $36.00 and set an “equal weight” rating on the stock in a report on Thursday, September 12th. Finally, JPMorgan Chase & Co. upgraded shares of Ally Financial from a “neutral” rating to an “overweight” rating and reduced their target price for the stock from $46.00 to $40.00 in a report on Monday, October 7th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Ally Financial presently has a consensus rating of “Hold” and a consensus target price of $40.38.

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.