The stock last traded at $26.13 just above the 50 day moving average of $24.16 and well above the 200 day moving average of $21.68. The 50 day moving average went up $1.97 or +8.16% whereas the 200 day moving average was up $4.45 or +20.54%. Trading volume for Ally Financial Inc. was 3,732K by the end of trading on Tuesday. Trading volume was up 13.73% over the stocks average daily volume.
Short traders are feeling a little more bearish on shares of the company as implied by the change in short interest. The firm experienced a rise in short interest of 3.80% between September 29, 2017 and October 13, 2017. Short interest grew from 18,797,118 to 19,511,385 over that timeframe. Days to cover increased from 6.0 to 7.0 and the percentage of shorted shares is 0.04% as of October 13.
A few notable investment firms have updated their holdings. Korea Investment Corp added to its ownership by buying 32,400 shares an increase of 25.4% in the quarter. Korea Investment Corp claims 160,085 shares valued at $3,884,000. The total value of its holdings increased 45.5%. Aperio Group, LLC augmented its position by buying 26,284 shares an increase of 13.0% from 06/30/2017 to 09/30/2017. Aperio Group, LLC now holds 228,266 shares with a value of $5,538,000. The value of the position overall is up by 31.2%.
Finemark National Bank & Trust downsized its stake by selling 2,038 shares a decrease of 1.8%. Finemark National Bank & Trust owns 109,112 shares worth $2,647,000. The value of the position overall is up by 13.9%. As of the end of the quarter Andra Ap-fonden had sold a total of 38,000 shares trimming its holdings by 25.3%. The value of the investment in ALLY went from $3,135,000 to $2,717,000 a change of 13.3% for the reporting period.
On July 17, 2017 the stock rating was rated “Underweight” by Stephens & Co. which was a cut from the previous “Equal-Weight” rating. October 26 investment analysts at Credit Suisse maintained a company rating of “Outperform” but moved up the price target to $30.00 from $27.00.
On October 26 Barclays kept the stock rating at “Outperform” and raised the price expectation from $27.00 to $30.00. On October 26 BMO Capital made no change to the company rating of “Outperform” and raised the price target to $30.00 from $25.00.
On October 26 Morgan Stanley held the stock rating at “Overweight” but lowered the price target to $26.00 from $30.00.
The company is trading up from yesterday’s close of $26.13. Ally Financial Inc. recently announced a dividend for shareholders that will be paid on Wed Nov 15, 2017. The dividend will be $0.120 per share for the quarter which is $0.48 annualized. This dividend amount will represent a yield of $1.83. The ex-dividend date is Tuesday the 31st of October 2017.
The company currently has a P/E ratio of 13.32 and the market cap of the company is 12.54B. In the latest earnings report the EPS was $1.96 and is expected to be $2.31 for the current year with 479,800,000 shares presently outstanding. Next quarter’s EPS is forecasted at $0.59 with next year’s EPS anticipated to be $2.66.
Ally Financial Inc., launched on February 21, 1997, is a digital financial services company. The Company is a bank and financial holding company. The Company offers various financial products for consumers, businesses, automotive dealers and corporate clients. The Business’s segments include Automotive Finance operations, Insurance operations, Mortgage Finance operations, Corporate Finance operations, and Corporate and Other. Dealer Financial Services business line includes the Business’s Automotive Finance and Insurance segments. Its primary customers are automotive dealers, which are typically independently owned businesses. Its Dealer Financial Services operations offer a range of financial services and insurance products to automotive..Advertisement