Ally Financial Inc. (ALLY) to Issue Quarterly Dividend of $0.30 on November 15th

Ally Financial Inc. (NYSE:ALLY) announced a quarterly dividend on Wednesday, October 9th, NASDAQ reports. Shareholders 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 yield of 3.42%. The ex-dividend date of this dividend is Friday, November 1st.

Ally Financial has raised its dividend by an average of 16.5% annually 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 Trading Down 0.6 %

Shares of ALLY stock opened at $35.11 on Friday. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.92 and a quick ratio of 0.91. The company has a market cap of $10.67 billion, a price-to-earnings ratio of 14.33, a PEG ratio of 0.37 and a beta of 1.39. Ally Financial has a 1 year low of $22.54 and a 1 year high of $45.46. The firm has a fifty day moving average price of $38.32 and a 200-day moving average price of $39.33.

Ally Financial (NYSE:ALLY) last posted its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.97 EPS for the quarter, topping the consensus estimate of $0.64 by $0.33. The firm had revenue of $2 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 business’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.96 earnings per share. As a group, equities analysts predict that Ally Financial will post 3.15 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ALLY. Morgan Stanley decreased their price objective on shares of Ally Financial from $49.00 to $45.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 11th. Wells Fargo & Company lowered their price objective on Ally Financial from $37.00 to $32.00 and set an “underweight” rating on the stock in a research report on Thursday, September 26th. Barclays lowered their price objective on Ally Financial from $44.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Thursday, September 12th. JPMorgan Chase & Co. upgraded Ally Financial from a “neutral” rating to an “overweight” rating and lowered their price objective for the company from $46.00 to $40.00 in a research report on Monday. Finally, 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 research report on Thursday, September 12th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Ally Financial presently has a consensus rating of “Hold” and a consensus price target of $40.63.

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.