M&T Bank Corp Trims Holdings in Ally Financial Inc. (NYSE:ALLY)

M&T Bank Corp trimmed its holdings in shares of Ally Financial Inc. (NYSE:ALLY) by 7.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,789 shares of the financial services provider’s stock after selling 862 shares during the quarter. M&T Bank Corp’s holdings in Ally Financial were worth $393,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in ALLY. Copia Wealth Management purchased a new position in Ally Financial during the 1st quarter worth $27,000. Private Trust Co. NA increased its stake in shares of Ally Financial by 125.7% during the first quarter. Private Trust Co. NA now owns 914 shares of the financial services provider’s stock valued at $33,000 after buying an additional 509 shares during the period. Bessemer Group Inc. increased its stake in shares of Ally Financial by 59.6% during the first quarter. Bessemer Group Inc. now owns 1,010 shares of the financial services provider’s stock valued at $37,000 after buying an additional 377 shares during the period. Harbour Investments Inc. raised its holdings in shares of Ally Financial by 38.5% in the fourth quarter. Harbour Investments Inc. now owns 2,142 shares of the financial services provider’s stock valued at $77,000 after acquiring an additional 595 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd bought a new stake in shares of Ally Financial in the fourth quarter valued at about $78,000. 88.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on ALLY shares. BTIG Research raised shares of Ally Financial from a “sell” rating to a “neutral” rating in a research report on Monday. Morgan Stanley reissued an “overweight” rating and set a $47.00 price objective (up from $39.00) on shares of Ally Financial in a report on Thursday, July 10th. Bank of America lowered their target price on Ally Financial from $42.00 to $38.00 and set a “buy” rating for the company in a report on Monday, April 7th. Truist Financial increased their target price on Ally Financial from $41.00 to $44.00 and gave the company a “buy” rating in a research report on Friday, June 13th. Finally, The Goldman Sachs Group boosted their price target on Ally Financial from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, April 1st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $42.67.

Ally Financial Stock Performance

Shares of Ally Financial stock opened at $39.35 on Thursday. The company has a 50 day moving average price of $37.09 and a 200 day moving average price of $36.06. The firm has a market capitalization of $12.09 billion, a P/E ratio of 28.93, a PEG ratio of 0.37 and a beta of 1.15. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.38. Ally Financial Inc. has a 52 week low of $29.52 and a 52 week high of $45.46.

Ally Financial (NYSE:ALLY) last posted its quarterly earnings results on Thursday, April 17th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.15. Ally Financial had a net margin of 6.96% and a return on equity of 9.53%. The business had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $2.04 billion. During the same quarter last year, the company posted $0.45 earnings per share. Sell-side analysts expect that Ally Financial Inc. will post 3.57 EPS for the current year.

Ally Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, August 1st will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 3.05%. Ally Financial’s dividend payout ratio (DPR) is 88.24%.

Insider Transactions at Ally Financial

In other news, CFO Russell E. Hutchinson bought 8,200 shares of the company’s stock in a transaction that occurred on Tuesday, April 22nd. The shares were purchased at an average price of $30.81 per share, for a total transaction of $252,642.00. Following the completion of the transaction, the chief financial officer directly owned 236,421 shares in the company, valued at approximately $7,284,131.01. This represents a 3.59% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Stephanie N. Richard sold 8,000 shares of the stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $32.14, for a total transaction of $257,120.00. Following the completion of the transaction, the insider owned 90,387 shares in the company, valued at approximately $2,905,038.18. This trade represents a 8.13% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.67% of the company’s stock.

Ally Financial 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.