Ally Financial Inc. (NYSE:ALLY - Get Free Report) saw a large growth in short interest in the month of September. As of September 30th, there was short interest totalling 9,410,000 shares, a growth of 12.0% from the September 15th total of 8,400,000 shares. Currently, 3.1% of the company's shares are sold short. Based on an average daily volume of 3,550,000 shares, the days-to-cover ratio is currently 2.7 days.
ALLY traded down $0.82 on Tuesday, reaching $34.97. 7,669,294 shares of the stock were exchanged, compared to its average volume of 3,477,381. The company's 50-day moving average price is $38.00 and its 200 day moving average price is $39.24. Ally Financial has a fifty-two week low of $22.54 and a fifty-two week high of $45.46. 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 firm has a market capitalization of $10.63 billion, a PE ratio of 14.51, a PEG ratio of 0.42 and a beta of 1.39.
Ally Financial (NYSE:ALLY - Get Free Report) last issued its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.97 EPS for the quarter, topping analysts' consensus estimates of $0.64 by $0.33. The company had revenue of $2 billion during the quarter, compared to analysts' expectations of $2.03 billion. Ally Financial had a return on equity of 8.37% and a net margin of 10.26%. The firm's revenue was down 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.96 EPS. As a group, sell-side analysts forecast that Ally Financial will post 2.87 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, November 1st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.43%. Ally Financial's payout ratio is currently 48.98%.
A number of research analysts have recently issued reports on ALLY shares. JPMorgan Chase & Co. upgraded Ally Financial from a "neutral" rating to an "overweight" rating and cut their price target for the company from $46.00 to $40.00 in a report on Monday, October 7th. TD Cowen cut their price target on Ally Financial from $45.00 to $37.00 and set a "hold" rating on the stock in a report on Monday, September 23rd. Bank of America cut their price target on Ally Financial from $46.00 to $37.00 and set a "buy" rating on the stock in a report on Wednesday, September 11th. BTIG Research downgraded Ally Financial from a "buy" rating to a "neutral" rating in a report on Monday, September 16th. Finally, Morgan Stanley cut their price target on Ally Financial from $49.00 to $45.00 and set an "overweight" rating on the stock in a report on Wednesday, September 11th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Ally Financial has an average rating of "Hold" and an average target price of $40.63.
Read Our Latest Report on Ally Financial
A number of institutional investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC increased its stake in shares of Ally Financial by 510.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 629 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 526 shares in the last quarter. Transcendent Capital Group LLC purchased a new position in shares of Ally Financial in the 1st quarter valued at about $28,000. Rise Advisors LLC purchased a new position in shares of Ally Financial in the 1st quarter valued at about $32,000. Quarry LP increased its stake in shares of Ally Financial by 165.7% in the 4th quarter. Quarry LP now owns 959 shares of the financial services provider's stock valued at $33,000 after purchasing an additional 598 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC purchased a new position in shares of Ally Financial in the 2nd quarter valued at about $41,000. Hedge funds and other institutional investors own 88.76% of the company's stock.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Ally Financial, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Ally Financial wasn't on the list.
While Ally Financial currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.