Ally Financial Inc. (NYSE:ALLY) to Post FY2020 Earnings of $2.47 Per Share, Piper Sandler Forecasts
Ally Financial Inc. (NYSE:ALLY) – Equities research analysts at Piper Sandler upped their FY2020 EPS estimates for shares of Ally Financial in a research report issued on Tuesday, January 12th. Piper Sandler analyst K. Barker now anticipates that the financial services provider will post earnings of $2.47 per share for the year, up from their prior estimate of $2.43. Piper Sandler has a “Overweight” rating and a $34.00 price objective on the stock. Piper Sandler also issued estimates for Ally Financial’s Q4 2020 earnings at $1.06 EPS, Q1 2021 earnings at $0.91 EPS, Q2 2021 earnings at $1.18 EPS, Q1 2022 earnings at $1.13 EPS, Q2 2022 earnings at $1.36 EPS, Q3 2022 earnings at $1.35 EPS and FY2022 earnings at $5.11 EPS.
Other analysts also recently issued research reports about the stock. Zacks Investment Research downgraded shares of Ally Financial from a “strong-buy” rating to a “hold” rating and set a $36.00 price objective for the company. in a research note on Monday, December 21st. Royal Bank of Canada assumed coverage on shares of Ally Financial in a research note on Monday, December 21st. They issued an “outperform” rating and a $41.00 price objective for the company. The Goldman Sachs Group raised their price objective on shares of Ally Financial from $36.00 to $41.00 and gave the stock a “buy” rating in a research note on Friday, December 4th. BMO Capital Markets raised their price objective on shares of Ally Financial from $34.00 to $36.00 and gave the stock an “outperform” rating in a research note on Monday, October 19th. Finally, Credit Suisse Group lifted their price target on shares of Ally Financial from $34.00 to $42.00 and gave the company an “outperform” rating in a research note on Wednesday. Two analysts have rated the stock with a sell rating, three have issued a hold rating and sixteen have given a buy rating to the company. Ally Financial presently has an average rating of “Buy” and a consensus target price of $34.55.
Ally Financial (NYSE:ALLY) last released its quarterly earnings results on Friday, October 16th. The financial services provider reported $1.25 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.53. The company had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.57 billion. Ally Financial had a return on equity of 6.43% and a net margin of 12.22%. The firm’s revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the business posted $1.01 earnings per share.
The company also recently declared a quarterly dividend, which will be paid on Friday, February 12th. Stockholders of record on Monday, February 1st will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date of this dividend is Friday, January 29th. Ally Financial’s dividend payout ratio is presently 20.43%.
In other news, CEO Jeffrey Jonathan Brown sold 17,300 shares of Ally Financial stock in a transaction that occurred on Tuesday, October 20th. The stock was sold at an average price of $29.02, for a total value of $502,046.00. Following the sale, the chief executive officer now directly owns 715,146 shares of the company’s stock, valued at $20,753,536.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO David J. Debrunner sold 22,500 shares of the business’s stock in a transaction on Monday, November 16th. The stock was sold at an average price of $30.82, for a total value of $693,450.00. Following the transaction, the chief accounting officer now directly owns 87,079 shares in the company, valued at approximately $2,683,774.78. The disclosure for this sale can be found here. Insiders own 0.36% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Global Retirement Partners LLC increased its position in Ally Financial by 22.1% during the fourth quarter. Global Retirement Partners LLC now owns 1,796 shares of the financial services provider’s stock worth $64,000 after purchasing an additional 325 shares during the last quarter. CWM LLC increased its position in Ally Financial by 21.2% during the third quarter. CWM LLC now owns 1,993 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 348 shares during the last quarter. CIBC Asset Management Inc increased its position in Ally Financial by 2.5% during the third quarter. CIBC Asset Management Inc now owns 14,713 shares of the financial services provider’s stock worth $369,000 after purchasing an additional 364 shares during the last quarter. Fifth Third Bancorp increased its position in Ally Financial by 10.3% during the third quarter. Fifth Third Bancorp now owns 7,115 shares of the financial services provider’s stock worth $178,000 after purchasing an additional 667 shares during the last quarter. Finally, X Square Capital LLC increased its position in Ally Financial by 2.1% during the third quarter. X Square Capital LLC now owns 53,459 shares of the financial services provider’s stock worth $1,340,000 after purchasing an additional 1,110 shares during the last quarter. 92.07% of the stock is currently owned by hedge funds and other institutional investors.
Ally Financial Company Profile
Ally Financial Inc, a bank holding company, provides various digital financial products and services to consumer, commercial, and corporate customers primarily in the United States and Canada. It operates through Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations segments.
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