Ally Financial (NYSE:ALLY) Shares Gap Down – Here’s What Happened

Ally Financial Inc. (NYSE:ALLY)’s share price gapped down prior to trading on Friday . The stock had previously closed at $35.84, but opened at $32.90. Ally Financial shares last traded at $34.83, with a volume of 2,498,939 shares trading hands.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. JPMorgan Chase & Co. raised shares of 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 report on Monday, October 7th. Bank of America reduced their price target on shares of Ally Financial from $46.00 to $37.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Royal Bank of Canada lowered their price objective on Ally Financial from $49.00 to $40.00 and set an “outperform” rating on the stock in a report on Thursday, September 12th. StockNews.com raised Ally Financial from a “sell” rating to a “hold” rating in a report on Saturday. Finally, Evercore ISI lowered their price target on Ally Financial from $47.00 to $38.00 and set an “in-line” rating on the stock in a research note on Monday, October 7th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Ally Financial presently has a consensus rating of “Hold” and a consensus target price of $40.63.

Ally Financial Trading Down 2.3 %

The stock has a market cap of $10.64 billion, a PE ratio of 14.29, a price-to-earnings-growth ratio of 0.42 and a beta of 1.39. The company’s 50-day moving average price is $37.62 and its 200 day moving average price is $39.12. 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 posted its earnings results on Friday, October 18th. The financial services provider reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.38. The company had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.03 billion. Ally Financial had a return on equity of 8.37% and a net margin of 10.26%. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.83 earnings per share. On average, sell-side analysts forecast that Ally Financial Inc. will post 2.87 EPS for the current fiscal year.

Ally Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be given a $0.30 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $1.20 dividend on an annualized basis and a yield of 3.43%. Ally Financial’s payout ratio is currently 48.98%.

Institutional Investors Weigh In On Ally Financial

A number of institutional investors have recently made changes to their positions in ALLY. Penn Davis Mcfarland Inc. purchased a new stake in shares of Ally Financial in the 3rd quarter valued at $2,700,000. Vest Financial LLC increased its stake in Ally Financial by 56.9% during the third quarter. Vest Financial LLC now owns 43,449 shares of the financial services provider’s stock worth $1,546,000 after purchasing an additional 15,765 shares during the period. OLD National Bancorp IN lifted its position in shares of Ally Financial by 3.1% during the third quarter. OLD National Bancorp IN now owns 907,648 shares of the financial services provider’s stock worth $32,303,000 after purchasing an additional 27,047 shares in the last quarter. Cyndeo Wealth Partners LLC lifted its position in shares of Ally Financial by 4.1% during the third quarter. Cyndeo Wealth Partners LLC now owns 162,530 shares of the financial services provider’s stock worth $5,784,000 after purchasing an additional 6,435 shares in the last quarter. Finally, New Century Financial Group LLC purchased a new position in shares of Ally Financial in the third quarter valued at approximately $942,000. 88.76% of the stock is currently owned by institutional investors and hedge funds.

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.