Ally Financial Inc. (NYSE:ALLY) Declares $0.30 Quarterly Dividend

Ally Financial Inc. (NYSE:ALLY) declared a quarterly dividend on Friday, January 17th,RTT News reports. Shareholders of record on Friday, January 31st will be paid a dividend of 0.30 per share by the financial services provider on Friday, February 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.25%.

Ally Financial has increased its dividend by an average of 10.9% annually over the last three years. Ally Financial has a payout ratio of 20.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Ally Financial to earn $3.99 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 30.1%.

Ally Financial Stock Performance

ALLY stock opened at $36.96 on Friday. The company has a 50 day moving average price of $36.85 and a 200 day moving average price of $37.99. Ally Financial has a fifty-two week low of $31.77 and a fifty-two week high of $45.46. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.92 and a quick ratio of 0.92. The stock has a market capitalization of $11.26 billion, a PE ratio of 14.79, a price-to-earnings-growth ratio of 0.33 and a beta of 1.44.

Ally Financial (NYSE:ALLY) last issued its quarterly earnings results on Friday, October 18th. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.38. The business had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.03 billion. Ally Financial had a return on equity of 8.39% and a net margin of 10.84%. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.83 earnings per share. Analysts forecast that Ally Financial will post 2.95 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Barclays raised their target price on shares of Ally Financial from $36.00 to $44.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. Truist Financial initiated coverage on shares of Ally Financial in a research note on Tuesday, January 7th. They issued a “buy” rating and a $42.00 price objective on the stock. Keefe, Bruyette & Woods increased their price target on Ally Financial from $44.00 to $56.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. StockNews.com upgraded Ally Financial from a “hold” rating to a “buy” rating in a report on Wednesday. Finally, Morgan Stanley raised their target price on Ally Financial from $41.00 to $42.00 and gave the stock an “overweight” rating in a report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $42.53.

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.