Ally Financial Inc. (NYSE:ALLY) announced a quarterly dividend on Thursday, October 12th, Wall Street Journal reports. Shareholders of record on Wednesday, November 1st will be given a dividend of 0.12 per share by the financial services provider on Wednesday, November 15th. This represents a $0.48 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend is Tuesday, October 31st.
Ally Financial has a payout ratio of 21.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Ally Financial to earn $2.55 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 18.8%.
Shares of Ally Financial (NYSE ALLY) opened at 23.96 on Friday. The firm’s 50-day moving average price is $23.21 and its 200 day moving average price is $21.16. The stock has a market capitalization of $11.50 billion, a P/E ratio of 12.21 and a beta of 1.44. Ally Financial has a 12-month low of $16.68 and a 12-month high of $24.61.
Ally Financial (NYSE:ALLY) last announced its earnings results on Thursday, July 27th. The financial services provider reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.05. Ally Financial had a return on equity of 7.55% and a net margin of 13.83%. The firm had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter in the prior year, the company earned $0.54 EPS. Analysts predict that Ally Financial will post $2.26 EPS for the current fiscal year.
Ally Financial announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, June 28th that allows the company to buyback $760.00 million in shares. This buyback authorization allows the financial services provider to reacquire up to 7.5% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.
ALLY has been the subject of several recent research reports. Piper Jaffray Companies reaffirmed a “buy” rating on shares of Ally Financial in a report on Wednesday, October 4th. Credit Suisse Group reaffirmed a “buy” rating and issued a $28.00 price target on shares of Ally Financial in a report on Wednesday, October 4th. BMO Capital Markets reaffirmed a “buy” rating and issued a $26.00 price target on shares of Ally Financial in a report on Friday, October 6th. Jefferies Group LLC reaffirmed a “buy” rating on shares of Ally Financial in a report on Friday, September 29th. Finally, BidaskClub raised Ally Financial from a “buy” rating to a “strong-buy” rating in a report on Thursday, September 28th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the stock. Ally Financial currently has a consensus rating of “Buy” and a consensus target price of $25.77.
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About Ally Financial
Ally Financial Inc is a digital financial services company. The Company is a bank and financial holding company. Its segments include Automotive Finance operations, Insurance operations, Mortgage Finance operations, Corporate Finance operations, and Corporate and Other. The Automotive Finance operations segment provides the United States-based automotive financing services to consumers and automotive dealers, and automotive and equipment financing services to companies and municipalities.
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