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

Ally Financial Inc. (NYSE:ALLY) announced a quarterly dividend on Tuesday, April 16th, Wall Street Journal reports. Stockholders of record on Wednesday, May 1st will be given a dividend of 0.30 per share by the financial services provider on Wednesday, May 15th. This represents a $1.20 annualized dividend and a dividend yield of 3.05%. The ex-dividend date of this dividend is Tuesday, April 30th.

Ally Financial has increased its dividend payment by an average of 16.5% per year over the last three years. Ally Financial has a payout ratio of 22.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Ally Financial to earn $5.29 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 22.7%.

Ally Financial Trading Up 0.4 %

NYSE:ALLY opened at $39.30 on Monday. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.92 and a quick ratio of 0.92. The firm has a market capitalization of $11.95 billion, a price-to-earnings ratio of 16.04, a price-to-earnings-growth ratio of 0.57 and a beta of 1.40. Ally Financial has a one year low of $22.54 and a one year high of $41.56. The business has a fifty day moving average price of $38.04 and a 200-day moving average price of $33.53.

Ally Financial (NYSE:ALLY) last posted its quarterly earnings data on Thursday, April 18th. The financial services provider reported $0.45 EPS for the quarter, topping the consensus estimate of $0.33 by $0.12. The firm had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.96 billion. Ally Financial had a return on equity of 8.35% and a net margin of 10.59%. Ally Financial’s revenue was down 5.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.82 EPS. Sell-side analysts forecast that Ally Financial will post 2.99 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ALLY. Morgan Stanley raised shares of Ally Financial from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $37.00 to $47.00 in a report on Thursday, February 8th. StockNews.com raised shares of Ally Financial from a “sell” rating to a “hold” rating in a report on Friday. Deutsche Bank Aktiengesellschaft began coverage on shares of Ally Financial in a report on Wednesday, January 10th. They issued a “buy” rating and a $47.00 target price for the company. Wells Fargo & Company upped their target price on shares of Ally Financial from $29.00 to $33.00 and gave the stock an “underweight” rating in a report on Wednesday, April 10th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Ally Financial in a report on Thursday, February 1st. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $38.47.

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.