Ally Financial Inc. (NYSE:ALLY) Short Interest Update

Ally Financial Inc. (NYSE:ALLY) saw a large increase in short interest in September. As of September 30th, there was short interest totalling 9,410,000 shares, an increase of 12.0% from the September 15th total of 8,400,000 shares. Currently, 3.1% of the company’s stock are sold short. Based on an average trading volume of 3,550,000 shares, the short-interest ratio is presently 2.7 days.

Hedge Funds Weigh In On Ally Financial

A number of institutional investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC grew its stake in 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 buying an additional 526 shares during the last quarter. Transcendent Capital Group LLC acquired a new stake in shares of Ally Financial in the first quarter valued at about $28,000. Rise Advisors LLC bought a new position in shares of Ally Financial in the first quarter worth about $32,000. Quarry LP lifted its position in shares of Ally Financial by 165.7% during the 4th quarter. Quarry LP now owns 959 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 598 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new stake in Ally Financial during the 2nd quarter valued at approximately $41,000. Institutional investors own 88.76% of the company’s stock.

Ally Financial Stock Down 0.1 %

Shares of ALLY stock traded down $0.02 on Thursday, hitting $35.92. The company’s stock had a trading volume of 192,042 shares, compared to its average volume of 3,476,312. 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 stock has a market capitalization of $10.92 billion, a price-to-earnings ratio of 14.67, a P/E/G ratio of 0.42 and a beta of 1.39. Ally Financial has a fifty-two week low of $22.54 and a fifty-two week high of $45.46. The firm’s fifty day moving average price is $37.82 and its 200-day moving average price is $39.18.

Ally Financial (NYSE:ALLY) last announced its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.33. Ally Financial had a return on equity of 8.37% and a net margin of 10.26%. The company had revenue of $2 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter in the previous year, the firm earned $0.96 earnings per share. The business’s quarterly revenue was down 3.8% compared to the same quarter last year. Research analysts anticipate that Ally Financial will post 2.87 EPS for the current year.

Ally Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be given a dividend of $0.30 per share. The ex-dividend date is Friday, November 1st. This represents a $1.20 dividend on an annualized basis and a yield of 3.34%. Ally Financial’s payout ratio is currently 48.98%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. TD Cowen decreased their price objective on shares of Ally Financial from $45.00 to $37.00 and set a “hold” rating for the company in a report on Monday, September 23rd. Morgan Stanley dropped their price objective on shares of Ally Financial from $49.00 to $45.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 11th. Wells Fargo & Company decreased their target price on Ally Financial from $37.00 to $32.00 and set an “underweight” rating for the company in a research note on Thursday, September 26th. Deutsche Bank Aktiengesellschaft dropped their price target on Ally Financial from $51.00 to $50.00 and set a “buy” rating on the stock in a research report on Monday, July 1st. Finally, Evercore ISI cut their target price on Ally Financial from $47.00 to $38.00 and set an “in-line” rating on the stock in a research note on Monday, October 7th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average 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.