Ally Financial (NYSE:ALLY) Announces Earnings Results, Beats Estimates By $0.01 EPS

Ally Financial (NYSE:ALLY) posted its earnings results on Tuesday. The financial services provider reported $1.34 EPS for the quarter, beating the consensus estimate of $1.33 by $0.01, FiscalAI reports. The company had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.30 billion. Ally Financial had a return on equity of 11.75% and a net margin of 16.75%.

Ally Financial Stock Performance

Ally Financial stock opened at $37.39 on Tuesday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. The stock has a market cap of $11.37 billion, a PE ratio of 8.82, a P/E/G ratio of 0.28 and a beta of 1.11. Ally Financial has a 12-month low of $35.92 and a 12-month high of $47.29. The business’s 50-day moving average price is $40.68 and its two-hundred day moving average price is $42.69.

Ally Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Monday, November 2nd will be given a $0.35 dividend. This is a boost from Ally Financial’s previous quarterly dividend of $0.30. This represents a $1.40 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Monday, November 2nd. Ally Financial’s dividend payout ratio (DPR) is presently 28.30%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ALLY. Raymond James Financial cut their price target on Ally Financial from $55.00 to $52.00 and set a “strong-buy” rating for the company in a research note on Tuesday, October 6th. The Goldman Sachs Group set a $45.00 target price on Ally Financial in a research report on Tuesday, October 6th. Morgan Stanley reissued an “equal weight” rating and set a $43.00 target price (down from $55.00) on shares of Ally Financial in a report on Monday, October 12th. Bank of America increased their target price on Ally Financial from $52.00 to $53.00 and gave the stock a “buy” rating in a report on Wednesday, July 8th. Finally, Royal Bank Of Canada decreased their price target on Ally Financial from $55.00 to $50.00 and set an “outperform” rating on the stock in a research report on Friday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $50.00.

Insider Buying and Selling

In other news, insider Stephanie Richard sold 5,000 shares of the stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $44.23, for a total value of $221,150.00. Following the completion of the transaction, the insider owned 88,927 shares of the company’s stock, valued at approximately $3,933,241.21. This represents a 5.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.46% of the company’s stock.

Ally Financial Company Profile

Ally Financial Inc is a digital financial services company headquartered in Detroit, Michigan, and traded on the New York Stock Exchange under the symbol ALLY. The company primarily serves consumers, automotive dealers and businesses in the United States through online and branchless banking and financing platforms.

Ally’s automotive finance business provides retail installment loans and leases to consumers and floorplan financing and other services to automotive dealers. Its consumer banking operations, conducted through Ally Bank, offer deposit products such as savings accounts, money market accounts and certificates of deposit, along with consumer lending products.

The company also provides credit cards and commercial financing, and offers investment and brokerage services through Ally Invest.