Ally Financial (NYSE:ALLY) Earns “Outperform” Rating from Royal Bank of Canada

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

Several other equities research analysts have also commented on ALLY. Morgan Stanley decreased their target price on shares of Ally Financial from $45.00 to $41.00 and set an “overweight” rating on the stock in a research report on Monday. JPMorgan Chase & Co. upgraded shares of Ally Financial from a “neutral” rating to an “overweight” rating and lowered their target price for the stock from $46.00 to $40.00 in a research report on Monday, October 7th. BTIG Research downgraded shares of Ally Financial from a “buy” rating to a “neutral” rating in a research report on Monday, September 16th. Wells Fargo & Company lowered their price target on Ally Financial from $37.00 to $32.00 and set an “underweight” rating on the stock in a report on Thursday, September 26th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on Ally Financial from $51.00 to $50.00 and set a “buy” rating for the company in a report on Monday, July 1st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $40.38.

Ally Financial Trading Down 0.8 %

NYSE ALLY opened at $34.45 on Monday. 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 stock has a market capitalization of $10.47 billion, a P/E ratio of 14.06, a P/E/G ratio of 0.42 and a beta of 1.39. Ally Financial has a 52-week low of $22.54 and a 52-week high of $45.46. The firm has a 50-day moving average price of $37.25 and a 200 day moving average price of $39.04.

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

Ally Financial Dividend Announcement

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ALLY. Price T Rowe Associates Inc. MD grew its holdings in Ally Financial by 245.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 608,179 shares of the financial services provider’s stock valued at $24,687,000 after purchasing an additional 432,350 shares during the period. OLD National Bancorp IN grew its stake in shares of Ally Financial by 3.8% during the 2nd quarter. OLD National Bancorp IN now owns 880,601 shares of the financial services provider’s stock valued at $34,933,000 after buying an additional 32,478 shares during the period. CANADA LIFE ASSURANCE Co increased its holdings in shares of Ally Financial by 15.5% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 369,491 shares of the financial services provider’s stock worth $14,988,000 after buying an additional 49,539 shares during the last quarter. Fulton Bank N.A. purchased a new position in shares of Ally Financial in the 2nd quarter worth $689,000. Finally, Duality Advisers LP acquired a new position in Ally Financial in the first quarter valued at $1,000,000. Institutional investors and hedge funds own 88.76% of the company’s stock.

About Ally Financial

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.