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

Ally Financial Inc. (NYSE:ALLY) announced a quarterly dividend on Wednesday, October 9th, NASDAQ reports. Investors of record on Friday, November 1st will be given 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 is Friday, November 1st.

Ally Financial has increased its dividend payment by an average of 16.5% per year over the last three years. Ally Financial has a dividend payout ratio of 25.6% meaning its dividend is sufficiently covered by earnings. Equities research 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 Stock Performance

Shares of Ally Financial stock traded down $0.21 during mid-day trading on Thursday, hitting $35.11. 4,025,081 shares of the stock were exchanged, compared to its average volume of 3,450,869. Ally Financial has a 12 month low of $22.54 and a 12 month high of $45.46. The company has a 50-day simple moving average of $38.32 and a 200 day simple moving average of $39.33. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.91 and a current ratio of 0.92. The company has a market capitalization of $10.67 billion, a P/E ratio of 14.49, a P/E/G ratio of 0.37 and a beta of 1.39.

Ally Financial (NYSE:ALLY) last released its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.33. Ally Financial had a net margin of 10.26% and a return on equity of 8.37%. The business had revenue of $2 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same period in the previous year, the business earned $0.96 EPS. Ally Financial’s revenue was down 3.8% compared to the same quarter last year. Sell-side analysts anticipate that Ally Financial will post 3.15 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ALLY. TD Cowen lowered their price target on shares of Ally Financial from $45.00 to $37.00 and set a “hold” rating for the company in a research note on Monday, September 23rd. Wells Fargo & Company lowered their price objective on shares of Ally Financial from $37.00 to $32.00 and set an “underweight” rating for the company in a research note on Thursday, September 26th. Evercore ISI lowered their price objective on shares of Ally Financial from $47.00 to $38.00 and set an “in-line” rating for the company in a research note on Monday. Barclays lowered their price objective on shares of Ally Financial from $44.00 to $36.00 and set an “equal weight” rating for the company in a research note on Thursday, September 12th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Ally Financial from $51.00 to $50.00 and set a “buy” rating for the company in a research note on Monday, July 1st. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $40.63.

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.