Ally Financial (NYSE:ALLY) Receives “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 report released on Monday morning, Benzinga reports. The brokerage currently has a $40.00 price target on the financial services provider’s stock.

A number of other research firms have also recently commented on ALLY. Citigroup began coverage on shares of Ally Financial in a research report on Monday, June 24th. They set a “buy” rating and a $50.00 target price on the stock. Morgan Stanley cut their price objective on shares of Ally Financial from $45.00 to $41.00 and set an “overweight” rating on the stock in a report on Monday. Bank of America lowered their target price on Ally Financial from $46.00 to $37.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. JPMorgan Chase & Co. upgraded Ally Financial from a “neutral” rating to an “overweight” rating and cut their price target for the stock from $46.00 to $40.00 in a research note on Monday, October 7th. Finally, TD Cowen lowered their price objective on Ally Financial from $45.00 to $37.00 and set a “hold” rating for the company in a research note on Monday, September 23rd. One analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $40.38.

Ally Financial Stock Performance

NYSE:ALLY opened at $34.45 on Monday. The firm’s fifty day simple moving average is $37.25 and its 200 day simple moving average is $39.04. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 1.39. Ally Financial has a twelve month low of $22.54 and a twelve month high of $45.46. The firm has a market capitalization of $10.47 billion, a price-to-earnings ratio of 14.06, a PEG ratio of 0.42 and a beta of 1.39.

Ally Financial (NYSE:ALLY) last issued its quarterly earnings data on Friday, October 18th. The financial services provider reported $0.95 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 company had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter in the previous year, the firm posted $0.83 earnings per share. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. As a group, equities research analysts expect that Ally Financial will post 2.87 earnings per share for the current fiscal year.

Ally Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be issued a $0.30 dividend. This represents a $1.20 annualized dividend 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

Several institutional investors and hedge funds have recently bought and sold shares of ALLY. Boston Partners bought a new position in shares of Ally Financial during the first quarter valued at approximately $152,079,000. Jennison Associates LLC bought a new position in Ally Financial during the 1st quarter worth $52,252,000. Wedge Capital Management L L P NC increased its position in Ally Financial by 584.7% in the third quarter. Wedge Capital Management L L P NC now owns 1,395,308 shares of the financial services provider’s stock worth $49,659,000 after buying an additional 1,191,529 shares during the period. Delta Global Management LP lifted its stake in Ally Financial by 3,262.3% in the first quarter. Delta Global Management LP now owns 1,035,994 shares of the financial services provider’s stock valued at $42,051,000 after buying an additional 1,005,182 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Ally Financial by 11.3% during the second quarter. Dimensional Fund Advisors LP now owns 9,697,795 shares of the financial services provider’s stock valued at $384,715,000 after acquiring an additional 987,489 shares during the period. 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.