Ally Financial Inc. Announces Quarterly Dividend of $0.30 (NYSE:ALLY)

by · The Markets Daily

Ally Financial Inc. (NYSE:ALLY – Get Free Report) announced a quarterly dividend on Wednesday, October 9th, NASDAQ reports. Stockholders of record on Friday, November 1st will be paid a dividend of 0.30 per share by the financial services provider on Friday, November 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date of this dividend is Friday, November 1st.

Ally Financial has raised its dividend payment by an average of 16.5% per year over the last three years. Ally Financial has a payout ratio of 25.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Ally Financial to earn $5.15 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 23.3%.

Ally Financial Price Performance

ALLY traded down $0.21 during trading on Thursday, hitting $35.11. 4,025,081 shares of the company traded hands, compared to its average volume of 3,450,869. The company has a market cap of $10.67 billion, a PE ratio of 14.49, a P/E/G ratio of 0.37 and a beta of 1.39. The stock’s 50-day simple moving average is $38.32 and its two-hundred day simple moving average is $39.33. Ally Financial has a 1 year low of $22.54 and a 1 year high of $45.46. 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 (NYSE:ALLY – Get Free Report) last posted its earnings results on Wednesday, July 17th. The financial services provider reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.33. Ally Financial had a net margin of 10.26% and a return on equity of 8.37%. The company had revenue of $2 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same period last year, the company posted $0.96 earnings per share. Ally Financial’s quarterly revenue was down 3.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Ally Financial will post 3.15 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on ALLY shares. Barclays lowered their target price on shares of Ally Financial from $44.00 to $36.00 and set an “equal weight” rating for the company in a report on Thursday, September 12th. Citigroup started coverage on shares of Ally Financial in a report on Monday, June 24th. They issued a “buy” rating and a $50.00 target price for the company. TD Cowen decreased their price objective on shares of Ally Financial from $45.00 to $37.00 and set a “hold” rating for the company in a report on Monday, September 23rd. Morgan Stanley decreased their price objective on shares of Ally Financial from $49.00 to $45.00 and set an “overweight” rating for the company in a report on Wednesday, September 11th. Finally, Bank of America decreased their price objective on shares of Ally Financial from $46.00 to $37.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $40.63.

Check Out Our Latest Analysis on ALLY

About Ally Financial

(Get Free Report)

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.

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