Shares of Ally Financial Inc (NYSE:ALLY) have been assigned an average rating of “Buy” from the fourteen brokerages that are covering the firm, Marketbeat.com reports. Six investment analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $34.42.
A number of equities analysts have commented on the company. BTIG Research lifted their price target on Ally Financial to $39.00 and gave the stock a “buy” rating in a research note on Friday. Morgan Stanley cut Silicon Motion Technology from an “equal weight” rating to an “underweight” rating in a research note on Monday, April 22nd. Nomura lifted their price target on Ally Financial from $29.00 to $34.00 and gave the stock a “neutral” rating in a research note on Friday. Oppenheimer set a $119.00 price target on American Express and gave the stock a “buy” rating in a research note on Wednesday, April 17th. Finally, Zacks Investment Research cut EXACT Sciences from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd.
In other Ally Financial news, Director Mayree C. Clark bought 5,000 shares of Ally Financial stock in a transaction dated Thursday, May 2nd. The shares were purchased at an average cost of $29.71 per share, with a total value of $148,550.00. Following the completion of the purchase, the director now owns 46,248 shares of the company’s stock, valued at $1,374,028.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO David J. Debrunner sold 2,222 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $31.32, for a total value of $69,593.04. Following the transaction, the chief accounting officer now directly owns 105,757 shares in the company, valued at $3,312,309.24. The disclosure for this sale can be found here. Insiders have sold 6,666 shares of company stock worth $199,802 over the last three months. Insiders own 0.35% of the company’s stock.
NYSE:ALLY traded down $0.44 during mid-day trading on Friday, reaching $33.05. The stock had a trading volume of 4,049,106 shares, compared to its average volume of 4,009,257. The company has a 50 day moving average price of $30.52. The company has a market capitalization of $13.30 billion, a PE ratio of 9.90, a P/E/G ratio of 0.66 and a beta of 1.31. Ally Financial has a one year low of $20.60 and a one year high of $33.92. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 3.03.
Ally Financial (NYSE:ALLY) last released its earnings results on Thursday, July 18th. The financial services provider reported $0.97 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.09. The company had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.53 billion. Ally Financial had a return on equity of 11.09% and a net margin of 26.59%. Ally Financial’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.83 EPS. Equities research analysts anticipate that Ally Financial will post 3.63 earnings per share for the current year.
Ally Financial declared that its board has initiated a stock buyback plan on Monday, April 1st that allows the company to buyback $1.25 billion in outstanding shares. This buyback authorization allows the financial services provider to repurchase up to 10.5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Wednesday, July 31st. This represents a $0.68 annualized dividend and a dividend yield of 2.06%. Ally Financial’s dividend payout ratio (DPR) is presently 20.36%.
About Ally Financial
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.
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