Ally Financial (NYSE:ALLY) Issues Earnings Results, Beats Estimates By $0.01 EPS

Ally Financial (NYSE:ALLY) released its quarterly earnings results on Tuesday. The financial services provider reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.01, FiscalAI reports. The firm had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.30 billion. Ally Financial had a return on equity of 11.75% and a net margin of 16.75%.

Ally Financial Stock Performance

NYSE ALLY opened at $37.39 on Tuesday. Ally Financial has a 1-year low of $35.92 and a 1-year high of $47.29. The company has a market capitalization of $11.37 billion, a P/E ratio of 8.26, a PEG ratio of 0.28 and a beta of 1.11. The business has a 50 day moving average price of $40.68 and a 200 day moving average price of $42.69. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.92.

Ally Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Monday, November 2nd will be paid a dividend of $0.35 per share. This is a positive change from Ally Financial’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Monday, November 2nd. This represents a $1.40 annualized dividend and a dividend yield of 3.7%. Ally Financial’s dividend payout ratio is presently 28.30%.

Analyst Upgrades and Downgrades

ALLY has been the topic of several research reports. UBS Group lowered their price objective on shares of Ally Financial from $54.00 to $50.00 and set a “buy” rating on the stock in a research report on Monday, October 5th. TD Cowen reduced their target price on shares of Ally Financial from $55.00 to $54.00 and set a “buy” rating for the company in a report on Tuesday, October 6th. Morgan Stanley reiterated an “equal weight” rating and set a $43.00 target price (down from $55.00) on shares of Ally Financial in a research note on Monday, October 12th. Bank of America raised their price target on Ally Financial from $52.00 to $53.00 and gave the stock a “buy” rating in a report on Wednesday, July 8th. Finally, Raymond James Financial dropped their price target on Ally Financial from $55.00 to $52.00 and set a “strong-buy” rating on the stock in a research report on Tuesday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $50.00.

Insider Transactions at Ally Financial

In other Ally Financial news, insider Stephanie Richard sold 5,000 shares of the business’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $44.23, for a total transaction of $221,150.00. Following the sale, the insider directly owned 88,927 shares in the company, valued at approximately $3,933,241.21. The trade was a 5.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.46% of the company’s stock.

Ally Financial Company Profile

Ally Financial Inc is a digital financial services company headquartered in Detroit, Michigan, and traded on the New York Stock Exchange under the symbol ALLY. The company primarily serves consumers, automotive dealers and businesses in the United States through online and branchless banking and financing platforms.

Ally’s automotive finance business provides retail installment loans and leases to consumers and floorplan financing and other services to automotive dealers. Its consumer banking operations, conducted through Ally Bank, offer deposit products such as savings accounts, money market accounts and certificates of deposit, along with consumer lending products.

The company also provides credit cards and commercial financing, and offers investment and brokerage services through Ally Invest.