Royal Bank of Canada Reaffirms “Outperform” Rating for Ally Financial (NYSE:ALLY)

Royal Bank of Canada reissued their outperform rating on shares of Ally Financial (NYSE:ALLY) in a research note published on Monday, Benzinga reports. The firm currently has a $40.00 price target on the financial services provider’s stock.

ALLY has been the topic of a number of other reports. Barclays decreased their target price on Ally Financial from $44.00 to $36.00 and set an “equal weight” rating on the stock in a report on Thursday, September 12th. Evercore ISI lowered their price objective on Ally Financial from $47.00 to $38.00 and set an “in-line” rating on the stock in a research report on Monday, October 7th. Wells Fargo & Company reduced their target price on shares of Ally Financial from $37.00 to $32.00 and set an “underweight” rating for the company in a report on Thursday, September 26th. Deutsche Bank Aktiengesellschaft lowered 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. Finally, Morgan Stanley reduced their price objective on shares of Ally Financial from $45.00 to $41.00 and set an “overweight” rating for the company in a research note on Monday. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $40.38.

Ally Financial Trading Up 0.1 %

Ally Financial stock opened at $34.49 on Monday. Ally Financial has a 52-week low of $22.54 and a 52-week high of $45.46. The company has a market cap of $10.48 billion, a P/E ratio of 14.08, a P/E/G ratio of 0.42 and a beta of 1.39. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 1.39. The business has a 50-day simple moving average of $37.25 and a two-hundred day simple moving average of $39.04.

Ally Financial (NYSE:ALLY) last announced its earnings results on Friday, October 18th. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.38. Ally Financial had a net margin of 10.26% and a return on equity of 8.37%. The company had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same period in the previous year, the business posted $0.83 earnings per share. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. Analysts predict that Ally Financial will post 2.87 EPS for the current year.

Ally Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date of this dividend is Friday, November 1st. Ally Financial’s dividend payout ratio (DPR) is presently 48.98%.

Institutional Investors Weigh In On Ally Financial

Hedge funds have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC increased its holdings in shares of Ally Financial by 510.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 629 shares of the financial services provider’s stock worth $25,000 after buying an additional 526 shares during the last quarter. Transcendent Capital Group LLC purchased a new position in Ally Financial in the first quarter worth about $28,000. Ashton Thomas Private Wealth LLC purchased a new stake in Ally Financial during the second quarter valued at approximately $41,000. Allworth Financial LP lifted its stake in shares of Ally Financial by 41.9% in the 3rd quarter. Allworth Financial LP now owns 1,426 shares of the financial services provider’s stock valued at $51,000 after purchasing an additional 421 shares during the last quarter. Finally, Hobbs Group Advisors LLC purchased a new position in shares of Ally Financial in the 2nd quarter worth approximately $52,000. 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.