Zacks Research Forecasts Reduced Earnings for Ally Financial

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

ALLY has been the subject of a number of other research reports. Raymond James raised shares of Ally Financial from an “underperform” rating to a “market perform” rating in a research note on Monday, October 21st. BTIG Research lowered shares of Ally Financial from a “buy” rating to a “neutral” rating in a research report on Monday, September 16th. Bank of America lowered their price target on shares of Ally Financial from $46.00 to $37.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Keefe, Bruyette & Woods lowered 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. Finally, JPMorgan Chase & Co. upgraded shares of Ally Financial from a “neutral” rating to an “overweight” rating and lowered their price target for the stock from $46.00 to $40.00 in a research report on Monday, October 7th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $40.80.

Ally Financial Stock Down 0.2 %

ALLY stock opened at $39.13 on Monday. The stock has a market capitalization of $11.92 billion, a P/E ratio of 15.65, a P/E/G ratio of 0.47 and a beta of 1.42. The firm has a 50-day simple moving average of $36.10 and a 200-day simple moving average of $38.61. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.36. Ally Financial has a 52 week low of $29.05 and a 52 week high of $45.46.

Ally Financial (NYSE:ALLY) last posted its quarterly earnings data on Friday, October 18th. The financial services provider reported $0.95 EPS for the quarter, topping the consensus estimate of $0.57 by $0.38. Ally Financial had a net margin of 10.84% and a return on equity of 8.39%. The business had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the previous year, the firm posted $0.83 earnings per share. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year.

Institutional Investors Weigh In On Ally Financial

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC increased its stake in Ally Financial by 510.7% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 629 shares of the financial services provider’s stock worth $25,000 after buying an additional 526 shares during the period. Venturi Wealth Management LLC increased its position in shares of Ally Financial by 153.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 952 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 577 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Ally Financial in the 2nd quarter valued at approximately $41,000. Hobbs Group Advisors LLC purchased a new stake in shares of Ally Financial in the 2nd quarter valued at approximately $52,000. Finally, First Community Trust NA purchased a new stake in shares of Ally Financial in the 2nd quarter valued at approximately $53,000. 88.76% of the stock is owned by hedge funds and other institutional investors.

Ally Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date was Friday, November 1st. Ally Financial’s dividend payout ratio (DPR) is 48.00%.

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.