Basswood Capital Management L.L.C. Sells 142,115 Shares of Ally Financial Inc. (NYSE:ALLY)

Basswood Capital Management L.L.C. trimmed its stake in Ally Financial Inc. (NYSE:ALLY - Free Report) by 26.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 398,183 shares of the financial services provider's stock after selling 142,115 shares during the quarter. Basswood Capital Management L.L.C. owned approximately 0.13% of Ally Financial worth $14,171,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Wedge Capital Management L L P NC boosted its position in Ally Financial by 584.7% during the third quarter. Wedge Capital Management L L P NC now owns 1,395,308 shares of the financial services provider's stock worth $49,659,000 after acquiring an additional 1,191,529 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Ally Financial by 11.3% during the second quarter. Dimensional Fund Advisors LP now owns 9,697,795 shares of the financial services provider's stock worth $384,715,000 after purchasing an additional 987,489 shares during the period. Assenagon Asset Management S.A. raised its stake in Ally Financial by 2,088.2% during the third quarter. Assenagon Asset Management S.A. now owns 728,864 shares of the financial services provider's stock worth $25,940,000 after purchasing an additional 695,555 shares during the period. 140 Summer Partners LP purchased a new position in Ally Financial during the third quarter worth approximately $19,140,000. Finally, Los Angeles Capital Management LLC raised its stake in Ally Financial by 182.2% during the second quarter. Los Angeles Capital Management LLC now owns 726,718 shares of the financial services provider's stock worth $28,829,000 after purchasing an additional 469,199 shares during the period. 88.76% of the stock is owned by institutional investors and hedge funds.

Ally Financial Stock Performance

Ally Financial stock traded down $0.55 during midday trading on Monday, reaching $39.43. 2,149,356 shares of the stock traded hands, compared to its average volume of 3,464,025. The firm has a fifty day moving average price of $35.90 and a two-hundred day moving average price of $38.62. The firm has a market cap of $12.01 billion, a price-to-earnings ratio of 15.99, a PEG ratio of 0.47 and a beta of 1.40. Ally Financial Inc. has a fifty-two week low of $29.05 and a fifty-two week high of $45.46. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.36.

Ally Financial (NYSE:ALLY - Get Free Report) last released its earnings results on Friday, October 18th. The financial services provider reported $0.95 EPS for the quarter, beating the consensus estimate of $0.57 by $0.38. Ally Financial had a net margin of 10.84% and a return on equity of 8.39%. The business had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same period in the prior year, the business earned $0.83 earnings per share. The business's quarterly revenue was up 6.9% on a year-over-year basis. On average, equities research analysts forecast that Ally Financial Inc. will post 3 earnings per share for the current year.

Ally Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 1st were paid a $0.30 dividend. The ex-dividend date was Friday, November 1st. This represents a $1.20 annualized dividend and a yield of 3.04%. Ally Financial's dividend payout ratio is presently 48.00%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on ALLY shares. StockNews.com raised shares of Ally Financial from a "sell" rating to a "hold" rating in a research note on Saturday, October 19th. Bank of America cut their price target on shares of Ally Financial from $46.00 to $37.00 and set a "buy" rating on the stock in a research note on Wednesday, September 11th. JPMorgan Chase & Co. raised shares of Ally Financial from a "neutral" rating to an "overweight" rating and cut their target price for the company from $46.00 to $40.00 in a research note on Monday, October 7th. Morgan Stanley cut their target price on shares of Ally Financial from $45.00 to $41.00 and set an "overweight" rating on the stock in a research note on Monday, October 21st. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $40.00 target price on shares of Ally Financial in a research note on Monday, October 21st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $40.80.

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.