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

Ally Financial (NYSE:ALLY) posted its quarterly earnings results on Thursday. The financial services provider reported $0.45 EPS for the quarter, beating the consensus estimate of $0.33 by $0.12, Briefing.com reports. Ally Financial had a return on equity of 8.35% and a net margin of 10.59%. The firm had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.96 billion. During the same quarter last year, the firm earned $0.82 earnings per share. The business’s revenue for the quarter was down 5.4% on a year-over-year basis.

Ally Financial Price Performance

Shares of NYSE:ALLY opened at $39.05 on Friday. The business’s 50 day simple moving average is $37.71 and its 200-day simple moving average is $32.92. The firm has a market capitalization of $11.87 billion, a price-to-earnings ratio of 15.95, a price-to-earnings-growth ratio of 0.57 and a beta of 1.40. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.92 and a quick ratio of 0.90. Ally Financial has a 12 month low of $22.54 and a 12 month high of $41.56.

Ally Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.07%. The ex-dividend date is Tuesday, April 30th. Ally Financial’s dividend payout ratio (DPR) is 48.98%.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Ally Financial in a report on Thursday, February 1st. Barclays lifted their price objective on Ally Financial from $32.00 to $43.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 2nd. Morgan Stanley upgraded Ally Financial from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $37.00 to $47.00 in a report on Thursday, February 8th. TheStreet upgraded Ally Financial from a “c+” rating to a “b-” rating in a report on Thursday, January 11th. Finally, Bank of America raised Ally Financial from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $42.00 to $46.00 in a report on Tuesday, April 9th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Ally Financial currently has a consensus rating of “Hold” and an average target price of $38.47.

Institutional Investors Weigh In On Ally Financial

A number of institutional investors and hedge funds have recently bought and sold shares of ALLY. Kinneret Advisory LLC lifted its stake in shares of Ally Financial by 2.3% during the 1st quarter. Kinneret Advisory LLC now owns 11,700 shares of the financial services provider’s stock worth $509,000 after purchasing an additional 262 shares during the period. Blair William & Co. IL increased its holdings in shares of Ally Financial by 2.6% during the 1st quarter. Blair William & Co. IL now owns 10,497 shares of the financial services provider’s stock worth $456,000 after buying an additional 264 shares during the last quarter. Salem Investment Counselors Inc. increased its holdings in shares of Ally Financial by 115.0% during the 1st quarter. Salem Investment Counselors Inc. now owns 645 shares of the financial services provider’s stock worth $28,000 after buying an additional 345 shares during the last quarter. EP Wealth Advisors LLC increased its holdings in shares of Ally Financial by 8.2% during the 1st quarter. EP Wealth Advisors LLC now owns 4,656 shares of the financial services provider’s stock worth $202,000 after buying an additional 354 shares during the last quarter. Finally, Captrust Financial Advisors increased its holdings in Ally Financial by 4.9% in the 1st quarter. Captrust Financial Advisors now owns 8,020 shares of the financial services provider’s stock valued at $349,000 after purchasing an additional 371 shares in the last quarter. Hedge funds and other institutional investors own 88.76% of the company’s stock.

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.