Ally Financial Inc Forecasted to Earn Q3 2020 Earnings of $1.12 Per Share (NYSE:ALLY)

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Ally Financial Inc (NYSE:ALLY) – Piper Sandler lifted their Q3 2020 earnings estimates for Ally Financial in a note issued to investors on Wednesday, January 22nd. Piper Sandler analyst K. Barker now forecasts that the financial services provider will post earnings per share of $1.12 for the quarter, up from their prior estimate of $1.11. Piper Sandler also issued estimates for Ally Financial’s Q4 2020 earnings at $1.23 EPS and FY2020 earnings at $4.14 EPS.

Ally Financial (NYSE:ALLY) last issued its earnings results on Wednesday, January 22nd. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.95. Ally Financial had a return on equity of 10.40% and a net margin of 26.82%. The business had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.58 billion. During the same quarter in the previous year, the business earned $0.92 EPS. The company’s revenue for the quarter was up 11.3% on a year-over-year basis.

A number of other equities analysts have also recently weighed in on ALLY. Citigroup decreased their price target on Ally Financial from $39.00 to $38.00 and set a “buy” rating for the company in a report on Thursday, October 17th. JPMorgan Chase & Co. cut Ally Financial from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $35.00 to $33.00 in a report on Tuesday, October 8th. Wells Fargo & Co upped their price target on Ally Financial from $35.00 to $37.00 and gave the stock an “overweight” rating in a report on Thursday, January 23rd. Barclays restated a “buy” rating and issued a $45.00 price target on shares of Ally Financial in a report on Tuesday, January 7th. Finally, Nomura upped their price target on Ally Financial from $34.00 to $36.00 and gave the stock a “neutral” rating in a report on Thursday, January 23rd. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company’s stock. Ally Financial presently has a consensus rating of “Hold” and an average target price of $37.15.

NYSE ALLY opened at $31.36 on Monday. The stock has a market cap of $12.22 billion, a PE ratio of 7.23, a P/E/G ratio of 0.63 and a beta of 1.27. Ally Financial has a fifty-two week low of $25.31 and a fifty-two week high of $35.42. The business has a 50 day moving average price of $30.87 and a two-hundred day moving average price of $31.68. The company has a quick ratio of 1.04, a current ratio of 1.05 and a debt-to-equity ratio of 2.47.

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.42%. This is a positive change from Ally Financial’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Thursday, January 30th. Ally Financial’s dividend payout ratio is presently 18.28%.

In other Ally Financial news, CAO David J. Debrunner sold 2,222 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $30.90, for a total value of $68,659.80. Following the transaction, the chief accounting officer now directly owns 96,869 shares of the company’s stock, valued at approximately $2,993,252.10. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.35% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in ALLY. Exane Derivatives acquired a new position in shares of Ally Financial in the 4th quarter valued at approximately $30,000. Usca Ria LLC acquired a new position in shares of Ally Financial in the 3rd quarter valued at approximately $32,000. Liberty Wealth Management LLC acquired a new position in shares of Ally Financial in the 3rd quarter valued at approximately $37,000. Huntington National Bank raised its position in shares of Ally Financial by 1,287.2% in the 4th quarter. Huntington National Bank now owns 2,053 shares of the financial services provider’s stock valued at $63,000 after purchasing an additional 1,905 shares in the last quarter. Finally, Parallel Advisors LLC raised its position in shares of Ally Financial by 28.2% in the 3rd quarter. Parallel Advisors LLC now owns 2,507 shares of the financial services provider’s stock valued at $83,000 after purchasing an additional 551 shares in the last quarter. 95.32% of the stock is currently owned by institutional investors.

Ally Financial Company Profile

Ally Financial Inc provides various financial products and services to consumers, businesses, automotive dealers, and corporate customers primarily in the United States and Canada. It operates through Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations segments.

Further Reading: Recession

Earnings History and Estimates for Ally Financial (NYSE:ALLY)

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