Ally Financial Inc. (ALLY) Given "Buy" Rating at Keefe, Bruyette & Woods

Andrew Cummings
August 2, 2017

Ally Financial announced that its board has approved a stock repurchase program on Wednesday, June 28th that allows the company to buyback $760.00 million in shares. As of the end of the quarter Financial Architects, Inc had acquired a total of 179 shares growing its position 13.8%.

Ally Financial (ALLY) traded up 4.42% during midday trading on Monday, reaching $22.67. Harris Associates L P increased its position in shares of Ally Financial by 12.0% in the first quarter. DnB Asset Management AS now owns 39,100 shares of the financial services provider's stock worth $817,000 after buying an additional 3,700 shares during the last quarter.

On 7/19/2017 Ally Financial announced a Quarterly dividend of $0.12 2.23% with an ex dividend date of 7/28/2017 which will be payable on 8/15/2017. Russell Investments Group, Ltd. owns 242,785 shares with a value of $5,074,000. Sunbelt Securities Inc owns 4,395 shares.

The company is now up since yesterday's close of $21.71. ALLY share have rallied by 14.14% in percentage terms since the start of the year - and added 4.58% in the last month.

Earlier this year, Brown told Bloomberg that verifying income isn't the norm in the auto industry, and Ally Financial checked incomes on 65 percent of its vehicle loans that are considered subprime, meaning the borrowers have lower credit scores.

It is trading at $22.78 just above $20.88, the stock's 50 day moving average and a tad higher than the 200 day moving average of $20.58. The company has a market capitalization of $10.85 billion, a PE ratio of 10.63 and a beta of 1.39. Ally Financial Inc (NYSE:ALLY) has risen 12.72% since July 27, 2016 and is uptrending. The financial services provider reported $0.58 earnings per share for the quarter, topping analysts' consensus estimates of $0.53 by $0.05. Ally Financial had a return on equity of 7.63% and a net margin of 15.68%. The company had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.42 billion. They expect $0.96 earnings per share, up 3.23% or $0.03 from last year's $0.93 per share. Equities analysts anticipate that Ally Financial Inc. will post $2.25 earnings per share for the current fiscal year. This repurchase authorization allows the financial services provider to purchase up to 7.5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's leadership believes its stock is undervalued. Stockholders of record on Tuesday, August 1st will be given a dividend of $0.12 per share. This is a boost from Ally Financial's previous quarterly dividend of $0.08. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.21%.

Check back later for our full write up on this Ally Financial earnings report! The original version of this story can be read at

WARNING: This report was published by Chaffey Breeze and is owned by of Chaffey Breeze. If you are accessing this story on another site, it was stolen and reposted in violation of United States & global trademark and copyright law. Korea Investment CORP purchased a new stake in Ally Financial during the first quarter valued at approximately $1,038,000.

Several research analysts have recently issued reports on ALLY shares. Finally, TheStreet upgraded Ally Financial from a "c" rating to a "b-" rating in a research note on Wednesday, July 19th.

On April 27 the company was rated "Market Perform" according to a Wells Fargo report which was a cut from the previous "Outperform" rating. The stock of Ally Financial Inc (NYSE:ALLY) earned "Buy" rating by Zacks on Wednesday, September 2.

Today, Piper Jaffray Companies reiterated its Buy rating on Ally Financial (NYSE:ALLY). BidaskClub raised Ally Financial from a "strong sell" rating to a "sell" rating in a research note on Wednesday, June 14th. The stock now has a consensus rating of "Buy" and a consensus target price of $24.62. Ally Financial Inc. also recently declared a dividend for shareholders that will be paid on Tuesday the 15th of August 2017. The Company offers various financial products for consumers, businesses, automotive dealers and corporate clients. Dealer Financial Services business line includes the Business's Automotive Finance and Insurance segments. Xact Kapitalforvaltning AB's holdings in Ally Financial were worth $1,273,000 as of its most recent filing with the SEC.

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