Short Interest in Ally Financial Inc. (ALLY) Increases By 31.3%
Ally Financial Inc. (NYSE:ALLY) was the target of a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 15,770,255 shares, an increase of 31.3% from the October 14th total of 12,011,822 shares. Based on an average daily volume of 4,844,458 shares, the short-interest ratio is presently 3.3 days. Approximately 3.5% of the company’s shares are sold short.
Hedge funds have recently modified their holdings of the stock. Global X Management Co. LLC raised its stake in shares of Ally Financial by 89.2% in the third quarter. Global X Management Co. LLC now owns 5,121 shares of the company’s stock worth $100,000 after buying an additional 2,414 shares during the period. Commonwealth Bank of Australia raised its stake in shares of Ally Financial by 85.8% in the third quarter. Commonwealth Bank of Australia now owns 6,010 shares of the company’s stock worth $117,000 after buying an additional 2,775 shares during the period. Mizuho Asset Management Co. Ltd. raised its stake in shares of Ally Financial by 176.4% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 6,999 shares of the company’s stock worth $119,000 after buying an additional 4,467 shares during the period. First Mercantile Trust Co. raised its stake in shares of Ally Financial by 18.5% in the third quarter. First Mercantile Trust Co. now owns 7,700 shares of the company’s stock worth $150,000 after buying an additional 1,200 shares during the period. Finally, Advisors Asset Management Inc. raised its stake in shares of Ally Financial by 107.6% in the third quarter. Advisors Asset Management Inc. now owns 8,256 shares of the company’s stock worth $161,000 after buying an additional 4,280 shares during the period.
Several brokerages have recently commented on ALLY. TheStreet raised Ally Financial from a “sell” rating to a “hold” rating in a report on Wednesday, November 9th. Zacks Investment Research raised Ally Financial from a “sell” rating to a “hold” rating in a report on Wednesday, October 5th. Jefferies Group reaffirmed a “buy” rating and set a $28.00 target price on shares of Ally Financial in a report on Tuesday, September 13th. Stephens began coverage on Ally Financial in a report on Tuesday, November 1st. They set an “equal weight” rating and a $22.00 target price for the company. Finally, Deutsche Bank AG reaffirmed a “buy” rating and set a $23.00 target price on shares of Ally Financial in a report on Thursday, August 18th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the stock. Ally Financial currently has a consensus rating of “Buy” and an average price target of $24.78.
Ally Financial (NYSE:ALLY) opened at 19.03 on Tuesday. Ally Financial has a one year low of $14.55 and a one year high of $20.68. The stock’s 50 day moving average price is $18.88 and its 200-day moving average price is $18.14. The firm’s market cap is $9.13 billion.
Ally Financial (NYSE:ALLY) last issued its quarterly earnings results on Wednesday, October 26th. The company reported $0.56 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by $0.03. Ally Financial had a net margin of 16.52% and a return on equity of 17.10%. During the same period in the prior year, the business earned $0.51 earnings per share. Analysts forecast that Ally Financial will post $2.18 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Tuesday, November 1st will be issued a $0.08 dividend. The ex-dividend date is Friday, October 28th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.68%. Ally Financial’s dividend payout ratio (DPR) is -94.11%.
About Ally Financial
Ally Financial Inc is a financial holding company and a bank holding company. The Company’s banking subsidiary, Ally Bank, is a franchise in the Internet, telephone, mobile and mail banking market. The Company operates through three segments: Automotive Finance operations, Insurance operations and Mortgage operations.
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