Ally Financial (NYSE:ALLY) Shares Gap Down to $39.66

Ally Financial Inc. (NYSE:ALLY)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $39.66, but opened at $35.41. Ally Financial shares last traded at $32.95, with a volume of 5,507,311 shares traded.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on ALLY shares. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Ally Financial from $51.00 to $50.00 and set a “buy” rating for the company in a research note on Monday, July 1st. JPMorgan Chase & Co. upgraded Ally Financial from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $39.00 to $45.00 in a research note on Monday, July 8th. Wells Fargo & Company boosted their target price on shares of Ally Financial from $33.00 to $37.00 and gave the stock an “underweight” rating in a research note on Thursday, July 18th. Royal Bank of Canada upped their price target on Ally Financial from $46.00 to $49.00 and gave the company an “outperform” rating in a research note on Thursday, July 18th. Finally, BTIG Research started coverage on Ally Financial in a report on Friday, June 7th. They issued a “buy” rating and a $51.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Ally Financial currently has an average rating of “Hold” and an average price target of $43.41.

Ally Financial Stock Down 17.5 %

The stock’s fifty day simple moving average is $41.89 and its two-hundred day simple moving average is $39.85. The company has a market capitalization of $9.94 billion, a price-to-earnings ratio of 13.68, a P/E/G ratio of 0.38 and a beta of 1.41. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.91 and a current ratio of 0.92.

Ally Financial (NYSE:ALLY) last announced its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.33. Ally Financial had a return on equity of 8.37% and a net margin of 10.26%. The company had revenue of $2 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the prior year, the firm earned $0.96 EPS. The company’s quarterly revenue was down 3.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Ally Financial Inc. will post 3.51 EPS for the current year.

Ally Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 1st were issued a $0.30 dividend. The ex-dividend date was Thursday, August 1st. This represents a $1.20 dividend on an annualized basis and a yield of 3.67%. Ally Financial’s dividend payout ratio is currently 48.98%.

Institutional Investors Weigh In On Ally Financial

Hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP increased its position in shares of Ally Financial by 11.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 9,697,795 shares of the financial services provider’s stock worth $384,715,000 after purchasing an additional 987,489 shares in the last quarter. Boston Partners acquired a new stake in Ally Financial during the 1st quarter worth $152,079,000. Bank of New York Mellon Corp grew its stake in shares of Ally Financial by 0.9% during the second quarter. Bank of New York Mellon Corp now owns 3,697,251 shares of the financial services provider’s stock worth $146,670,000 after purchasing an additional 31,491 shares during the period. Donald Smith & CO. Inc. grew its position in shares of Ally Financial by 0.8% during the 1st quarter. Donald Smith & CO. Inc. now owns 2,774,487 shares of the financial services provider’s stock worth $112,616,000 after buying an additional 21,657 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Ally Financial by 1.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,346,882 shares of the financial services provider’s stock valued at $81,953,000 after acquiring an additional 42,556 shares during the last quarter. 88.76% of the stock is owned by institutional investors.

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.