Ally Financial Inc. (ALLY) to Distribute Quarterly Dividend of $0.30 on August 15th

Ally Financial Inc. (NYSE:ALLY) announced a quarterly dividend on Tuesday, July 16th, NASDAQ reports. Investors of record on Thursday, August 1st will be paid a dividend of 0.30 per share by the financial services provider on Thursday, August 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date is Wednesday, July 31st.

Ally Financial has raised its dividend by an average of 16.5% per year over the last three years. Ally Financial has a dividend payout ratio of 21.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Ally Financial to earn $5.60 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 21.4%.

Ally Financial Stock Up 1.5 %

Ally Financial stock opened at $43.99 on Monday. Ally Financial has a twelve month low of $22.54 and a twelve month high of $44.50. The business has a fifty day moving average of $40.23 and a two-hundred day moving average of $38.53. The firm has a market cap of $13.37 billion, a P/E ratio of 17.96, a P/E/G ratio of 0.43 and a beta of 1.41. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 1.39.

Ally Financial (NYSE:ALLY) last issued its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.33. Ally Financial had a net margin of 10.26% and a return on equity of 8.37%. The firm had revenue of $2 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the previous year, the firm earned $0.96 EPS. The company’s quarterly revenue was down 3.8% compared to the same quarter last year. On average, analysts forecast that Ally Financial will post 3.42 earnings per share for the current fiscal year.

Analyst Ratings Changes

ALLY has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Ally Financial from $51.00 to $50.00 and set a “buy” rating on the stock in a research report on Monday, July 1st. Compass Point lifted their price target on Ally Financial from $28.00 to $37.00 and gave the stock a “neutral” rating in a research report on Thursday, April 11th. StockNews.com raised Ally Financial from a “sell” rating to a “hold” rating in a report on Friday, April 26th. Evercore ISI lifted their target price on Ally Financial from $43.00 to $45.00 and gave the stock an “in-line” rating in a report on Tuesday, June 25th. Finally, Wells Fargo & Company raised their price target on shares of Ally Financial from $33.00 to $37.00 and gave the stock an “underweight” rating in a research report on Thursday, July 18th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Ally Financial currently has an average rating of “Hold” and a consensus price target of $42.78.

Ally Financial Company Profile

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.