Zacks Research Lowers Earnings Estimates for Ally Financial

Ally Financial Inc. (NYSE:ALLY) – Analysts at Zacks Research reduced their Q4 2024 EPS estimates for Ally Financial in a research note issued to investors on Thursday, November 28th. Zacks Research analyst R. Department now anticipates that the financial services provider will post earnings per share of $0.62 for the quarter, down from their previous forecast of $0.64. The consensus estimate for Ally Financial’s current full-year earnings is $3.00 per share.

Ally Financial (NYSE:ALLY) last issued its earnings results on Friday, October 18th. The financial services provider reported $0.95 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $2.03 billion. During the same period last year, the business posted $0.83 EPS. The company’s revenue was up 6.9% compared to the same quarter last year.

Several other research firms have also recently issued reports on ALLY. StockNews.com upgraded shares of Ally Financial from a “sell” rating to a “hold” rating in a research note on Saturday, October 19th. Evercore ISI dropped their target price on shares of Ally Financial from $47.00 to $38.00 and set an “in-line” rating on the stock in a report on Monday, October 7th. Raymond James raised shares of Ally Financial from an “underperform” rating to a “market perform” rating in a research report on Monday, October 21st. 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, Bank of America cut their price objective on Ally Financial from $46.00 to $37.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $40.80.

Ally Financial Trading Up 1.2 %

Ally Financial stock opened at $39.98 on Monday. Ally Financial has a one year low of $28.99 and a one year high of $45.46. The business’s fifty day moving average is $35.90 and its 200 day moving average is $38.62. The stock has a market capitalization of $12.18 billion, a PE ratio of 15.99, a price-to-earnings-growth ratio of 0.47 and a beta of 1.40. 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.00%. Ally Financial’s payout ratio is currently 48.00%.

Hedge Funds Weigh In On Ally Financial

Large investors have recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC lifted its position in shares of Ally Financial by 68.8% in the third quarter. Janney Montgomery Scott LLC now owns 68,986 shares of the financial services provider’s stock valued at $2,455,000 after acquiring an additional 28,114 shares in the last quarter. OLD National Bancorp IN lifted its holdings in Ally Financial by 3.8% in the 2nd quarter. OLD National Bancorp IN now owns 880,601 shares of the financial services provider’s stock worth $34,933,000 after purchasing an additional 32,478 shares in the last quarter. Fulton Bank N.A. bought a new position in Ally Financial in the 2nd quarter worth approximately $689,000. Wealth Enhancement Advisory Services LLC grew its holdings in Ally Financial by 58.7% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 50,466 shares of the financial services provider’s stock valued at $1,796,000 after buying an additional 18,671 shares in the last quarter. Finally, CWA Asset Management Group LLC bought a new stake in shares of Ally Financial during the third quarter valued at approximately $1,338,000. Hedge funds and other institutional investors own 88.76% of the company’s stock.

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.