Ally Financial (NYSE:ALLY) Posts Earnings Results, Beats Expectations By $0.12 EPS

Ally Financial (NYSE:ALLY) announced its quarterly earnings results on Thursday. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.12, Briefing.com reports. The company had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.96 billion. Ally Financial had a net margin of 12.42% and a return on equity of 9.41%. The firm’s revenue was down 5.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.82 EPS.

Ally Financial Stock Performance

ALLY opened at $38.71 on Friday. The company has a market cap of $11.77 billion, a price-to-earnings ratio of 12.95, a PEG ratio of 0.53 and a beta of 1.40. The company’s fifty day moving average price is $37.65 and its two-hundred day moving average price is $32.82. Ally Financial has a 1-year low of $22.54 and a 1-year high of $41.56. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.54.

Ally Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be paid a dividend of $0.30 per share. The ex-dividend date is Tuesday, April 30th. This represents a $1.20 dividend on an annualized basis and a yield of 3.10%. Ally Financial’s dividend payout ratio (DPR) is presently 40.13%.

Institutional Investors Weigh In On Ally Financial

Several hedge funds and other institutional investors have recently made changes to their positions in ALLY. Salem Investment Counselors Inc. boosted its stake in Ally Financial by 115.0% during the 1st quarter. Salem Investment Counselors Inc. now owns 645 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 345 shares during the last quarter. PCA Investment Advisory Services Inc. purchased a new position in shares of Ally Financial during the second quarter valued at approximately $30,000. Natixis bought a new stake in Ally Financial during the fourth quarter worth $41,000. Hobbs Group Advisors LLC purchased a new stake in Ally Financial in the 4th quarter valued at $46,000. Finally, Harbour Investments Inc. lifted its stake in Ally Financial by 25.3% during the 4th quarter. Harbour Investments Inc. now owns 2,287 shares of the financial services provider’s stock valued at $56,000 after acquiring an additional 462 shares in the last quarter. 88.76% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ALLY has been the subject of several research analyst reports. BMO Capital Markets upped their price target on shares of Ally Financial from $36.00 to $37.00 and gave the stock a “market perform” rating in a report on Tuesday, January 23rd. Evercore ISI increased their target price on Ally Financial from $41.00 to $43.00 and gave the company an “in-line” rating in a research report on Thursday, March 28th. The Goldman Sachs Group restated a “buy” rating on shares of Ally Financial in a report on Thursday, February 1st. StockNews.com raised shares of Ally Financial from a “sell” rating to a “hold” rating in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Ally Financial in a research note on Wednesday, January 10th. They set a “buy” rating and a $47.00 price target for the company. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $37.59.

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.