Fifth Third Bancorp Trims Stake in Ally Financial Inc. $ALLY

Fifth Third Bancorp reduced its holdings in Ally Financial Inc. (NYSE:ALLY) by 27.3% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,832 shares of the financial services provider’s stock after selling 687 shares during the quarter. Fifth Third Bancorp’s holdings in Ally Financial were worth $71,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. WPG Advisers LLC bought a new position in shares of Ally Financial in the first quarter worth approximately $25,000. Copia Wealth Management purchased a new position in Ally Financial in the 1st quarter worth approximately $27,000. SVB Wealth LLC bought a new position in shares of Ally Financial in the 1st quarter worth $27,000. Private Trust Co. NA raised its position in shares of Ally Financial by 125.7% during the 1st 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 in the last quarter. Finally, Bessemer Group Inc. lifted its holdings in shares of Ally Financial by 59.6% during the 1st quarter. Bessemer Group Inc. now owns 1,010 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 377 shares during the last quarter. Hedge funds and other institutional investors own 88.76% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Citigroup increased their target price on Ally Financial from $59.00 to $70.00 and gave the company a “buy” rating in a research note on Monday, September 15th. Morgan Stanley increased their price objective on Ally Financial from $47.00 to $52.00 and gave the company an “overweight” rating in a research report on Monday. Wells Fargo & Company raised Ally Financial from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $37.00 to $45.00 in a report on Tuesday, September 2nd. Evercore ISI cut their target price on Ally Financial from $45.00 to $44.00 and set an “in-line” rating for the company in a research note on Tuesday. Finally, Truist Financial increased their price target on shares of Ally Financial from $44.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Nine research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $45.36.

Ally Financial Price Performance

ALLY opened at $38.80 on Friday. The stock’s 50 day simple moving average is $40.10 and its 200 day simple moving average is $37.28. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.92 and a quick ratio of 0.92. Ally Financial Inc. has a 1 year low of $29.52 and a 1 year high of $44.83. The firm has a market cap of $11.94 billion, a price-to-earnings ratio of 25.20, a PEG ratio of 0.30 and a beta of 1.18.

Ally Financial (NYSE:ALLY) last announced its quarterly earnings data on Friday, July 18th. The financial services provider reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.21. The firm had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.03 billion. Ally Financial had a return on equity of 9.48% and a net margin of 7.64%.The business’s revenue was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.97 earnings per share. As a group, analysts predict that Ally Financial Inc. will post 3.57 earnings per share for the current year.

Ally Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 1st were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, August 1st. This represents a $1.20 annualized dividend and a yield of 3.1%. Ally Financial’s dividend payout ratio is presently 77.92%.

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.