Ally Financial (NYSE:ALLY) Shares Gap Down to $39.66

Ally Financial Inc. (NYSE:ALLY - Get Free Report) shares gapped down prior to trading on Tuesday . The stock had previously closed at $39.66, but opened at $35.41. Ally Financial shares last traded at $32.95, with a volume of 5,507,311 shares traded.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. JPMorgan Chase & Co. raised shares of Ally Financial from an "underweight" rating to a "neutral" rating and boosted their price objective for the stock from $39.00 to $45.00 in a research note on Monday, July 8th. Citigroup began coverage on Ally Financial in a research note on Monday, June 24th. They issued a "buy" rating and a $50.00 price target for the company. Morgan Stanley lifted their price objective on Ally Financial from $47.00 to $49.00 and gave the stock an "overweight" rating in a research note on Thursday, July 18th. Evercore ISI increased their target price on shares of Ally Financial from $43.00 to $45.00 and gave the company an "in-line" rating in a research report on Tuesday, June 25th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Ally Financial from $45.00 to $48.00 and gave the stock an "outperform" rating in a report on Monday, July 8th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $43.41.

Ally Financial Price Performance

The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 1.39. The business's 50-day moving average is $41.89 and its two-hundred day moving average is $39.85. The company has a market capitalization of $9.93 billion, a P/E ratio of 13.68, a price-to-earnings-growth ratio of 0.38 and a beta of 1.41.

Ally Financial (NYSE:ALLY - Get Free Report) last posted its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.33. Ally Financial had a return on equity of 8.37% and a net margin of 10.26%. The business had revenue of $2 billion for the quarter, compared to analysts' expectations of $2.03 billion. During the same quarter in the previous year, the firm earned $0.96 earnings per share. The business's revenue was down 3.8% on a year-over-year basis. As a group, analysts predict that Ally Financial Inc. will post 3.51 earnings per share for the current year.

Ally Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date of this dividend was Thursday, August 1st. Ally Financial's dividend payout ratio is currently 48.98%.

Hedge Funds Weigh In On Ally Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ALLY. Fifth Third Bancorp increased its position in shares of Ally Financial by 1.2% during the second quarter. Fifth Third Bancorp now owns 23,275 shares of the financial services provider's stock valued at $923,000 after buying an additional 278 shares during the period. Trust Co. of Toledo NA OH lifted its holdings in shares of Ally Financial by 1.7% during the 1st quarter. Trust Co. of Toledo NA OH now owns 17,622 shares of the financial services provider's stock worth $715,000 after acquiring an additional 287 shares during the last quarter. WBI Investments LLC grew its position in Ally Financial by 2.2% in the fourth quarter. WBI Investments LLC now owns 14,635 shares of the financial services provider's stock worth $511,000 after acquiring an additional 316 shares in the last quarter. Signet Financial Management LLC increased its stake in Ally Financial by 4.8% in the first quarter. Signet Financial Management LLC now owns 7,273 shares of the financial services provider's stock valued at $295,000 after acquiring an additional 330 shares during the last quarter. Finally, Blue Trust Inc. raised its position in Ally Financial by 10.2% during the second quarter. Blue Trust Inc. now owns 4,308 shares of the financial services provider's stock valued at $175,000 after purchasing an additional 400 shares in the last quarter. Institutional investors own 88.76% of the company's stock.

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.