Ally Financial Inc. (ALLY) To Go Ex-Dividend on November 2nd

Ally Financial Inc. (NYSE:ALLY) declared a quarterly dividend on Sunday, October 18th. Shareholders of record on Monday, November 2nd will be given a dividend of $0.35 per share by the financial services provider on Monday, November 16th. This represents a $1.40 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Monday, November 2nd. This is a 16.7% increase from Ally Financial’s previous quarterly dividend of $0.30.

Ally Financial has raised its dividend payment by an average of 0.1% per year over the last three years. Ally Financial has a dividend payout ratio of 25.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Ally Financial to earn $5.94 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 23.6%.

Ally Financial Stock Performance

ALLY stock opened at $38.14 on Friday. The firm has a market cap of $11.60 billion, a PE ratio of 8.75, a P/E/G ratio of 0.33 and a beta of 1.11. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 1.45. The business has a 50 day moving average of $39.78 and a 200-day moving average of $41.92. Ally Financial has a 12-month low of $35.92 and a 12-month high of $47.29.

Ally Financial (NYSE:ALLY) last issued its quarterly earnings results on Tuesday, October 20th. The financial services provider reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.01. The business had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.31 billion. Ally Financial had a return on equity of 12.11% and a net margin of 16.84%. Ally Financial’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period last year, the company posted $1.15 earnings per share. As a group, sell-side analysts expect that Ally Financial will post 4.99 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on ALLY shares. TD Cowen cut their price target on shares of Ally Financial from $54.00 to $52.00 and set a “buy” rating on the stock in a report on Wednesday, October 21st. Citigroup decreased their price objective on shares of Ally Financial from $58.00 to $50.00 and set a “buy” rating for the company in a report on Friday, September 25th. Royal Bank Of Canada dropped their target price on shares of Ally Financial from $55.00 to $50.00 and set an “outperform” rating on the stock in a research note on Friday, October 9th. Bank of America increased their target price on shares of Ally Financial from $52.00 to $53.00 and gave the company a “buy” rating in a research report on Wednesday, July 8th. Finally, Truist Financial decreased their price target on shares of Ally Financial from $50.00 to $48.00 and set a “buy” rating for the company in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $48.07.

About Ally Financial

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.