Commerce Bank Lowers Position in Ally Financial Inc. (NYSE:ALLY)

Commerce Bank lowered its stake in shares of Ally Financial Inc. (NYSE:ALLY) by 4.4% during the third quarter, HoldingsChannel.com reports. The firm owned 15,612 shares of the financial services provider’s stock after selling 717 shares during the period. Commerce Bank’s holdings in Ally Financial were worth $556,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in ALLY. Dimensional Fund Advisors LP raised its position in shares of Ally Financial by 11.3% in 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 buying an additional 987,489 shares during the period. Boston Partners purchased a new position in shares of Ally Financial in the 1st quarter worth about $152,079,000. Bank of New York Mellon Corp lifted its stake in shares of Ally Financial by 0.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,697,251 shares of the financial services provider’s stock valued at $146,670,000 after purchasing an additional 31,491 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in shares of Ally Financial by 7.3% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,615,663 shares of the financial services provider’s stock worth $57,501,000 after purchasing an additional 109,677 shares during the period. Finally, Employees Retirement System of Texas grew its holdings in shares of Ally Financial by 11.7% during the 2nd quarter. Employees Retirement System of Texas now owns 1,489,200 shares of the financial services provider’s stock worth $59,077,000 after purchasing an additional 156,200 shares during the period. Institutional investors and hedge funds own 88.76% of the company’s stock.

Ally Financial Price Performance

Shares of ALLY stock opened at $39.43 on Wednesday. The firm has a fifty day moving average of $35.59 and a two-hundred day moving average of $38.64. The firm has a market cap of $12.01 billion, a P/E ratio of 15.77, a P/E/G ratio of 0.45 and a beta of 1.40. Ally Financial Inc. has a 1-year low of $26.50 and a 1-year high of $45.46. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.92 and a quick ratio of 0.92.

Ally Financial (NYSE:ALLY) last posted its quarterly earnings results 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 8.39% and a net margin of 10.84%. The business had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same period last year, the firm earned $0.83 earnings per share. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, research analysts anticipate that Ally Financial Inc. will post 3 earnings per share for the current fiscal year.

Ally Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.04%. The ex-dividend date of this dividend was Friday, November 1st. Ally Financial’s dividend payout ratio (DPR) is presently 48.00%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Keefe, Bruyette & Woods reduced their price target on shares of Ally Financial from $50.00 to $44.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $40.00 price target on shares of Ally Financial in a research report on Monday, October 21st. Raymond James raised Ally Financial from an “underperform” rating to a “market perform” rating in a research report on Monday, October 21st. Citigroup upped their target price on Ally Financial from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Finally, Bank of America dropped their target price on Ally Financial from $46.00 to $37.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $40.69.

Ally Financial 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.