Ally Financial Inc. (NYSE:ALLY) Short Interest Update

Ally Financial Inc. (NYSE:ALLY) saw a significant decrease in short interest during the month of September. As of September 15th, there was short interest totalling 8,400,000 shares, a decrease of 6.4% from the August 31st total of 8,970,000 shares. Based on an average trading volume of 3,570,000 shares, the days-to-cover ratio is currently 2.4 days. Currently, 2.8% of the company’s shares are sold short.

Ally Financial Trading Down 2.5 %

NYSE ALLY opened at $34.71 on Wednesday. The company has a market capitalization of $10.55 billion, a price-to-earnings ratio of 14.17, a price-to-earnings-growth ratio of 0.37 and a beta of 1.40. The company’s fifty day moving average price is $39.40 and its two-hundred day moving average price is $39.51. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.92 and a quick ratio of 0.91. Ally Financial has a 12 month low of $22.54 and a 12 month high of $45.46.

Ally Financial (NYSE:ALLY) last announced its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.33. Ally Financial had a return on equity of 8.37% and a net margin of 10.26%. The firm had revenue of $2 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same period in the previous year, the company earned $0.96 earnings per share. Ally Financial’s quarterly revenue was down 3.8% on a year-over-year basis. As a group, research analysts predict that Ally Financial will post 3.15 earnings per share for the current fiscal year.

Ally Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 1st were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.46%. The ex-dividend date was Thursday, August 1st. Ally Financial’s dividend payout ratio (DPR) is presently 48.98%.

Hedge Funds Weigh In On Ally Financial

Hedge funds have recently added to or reduced their stakes in the business. TD Asset Management Inc raised its position in shares of Ally Financial by 28.5% during the 4th quarter. TD Asset Management Inc now owns 49,093 shares of the financial services provider’s stock worth $1,714,000 after purchasing an additional 10,895 shares during the period. Treasurer of the State of North Carolina grew its position in shares of Ally Financial by 0.9% during the fourth quarter. Treasurer of the State of North Carolina now owns 136,174 shares of the financial services provider’s stock worth $4,755,000 after acquiring an additional 1,247 shares during the last quarter. Bank of Nova Scotia bought a new position in shares of Ally Financial during the fourth quarter worth about $6,603,000. First Trust Advisors LP increased its holdings in shares of Ally Financial by 2.2% in the 4th quarter. First Trust Advisors LP now owns 1,624,977 shares of the financial services provider’s stock worth $56,744,000 after acquiring an additional 34,663 shares during the period. Finally, Gabelli Funds LLC lifted its position in Ally Financial by 6.4% in the 4th quarter. Gabelli Funds LLC now owns 38,040 shares of the financial services provider’s stock valued at $1,328,000 after purchasing an additional 2,300 shares during the last quarter. Institutional investors and hedge funds own 88.76% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on ALLY shares. Deutsche Bank Aktiengesellschaft cut their price target on shares of Ally Financial from $51.00 to $50.00 and set a “buy” rating on the stock in a report on Monday, July 1st. JPMorgan Chase & Co. upgraded shares of Ally Financial from an “underweight” rating to a “neutral” rating and lifted their target price for the company from $39.00 to $45.00 in a report on Monday, July 8th. Morgan Stanley decreased their price target on shares of Ally Financial from $49.00 to $45.00 and set an “overweight” rating for the company in a research report on Wednesday, September 11th. Bank of America reduced their price objective on Ally Financial from $46.00 to $37.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Finally, TD Cowen dropped their target price on Ally Financial from $45.00 to $37.00 and set a “hold” rating on the stock in a report on Monday, September 23rd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $41.38.

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.