Basswood Capital Management L.L.C. Boosts Stock Position in Ally Financial Inc. $ALLY

Basswood Capital Management L.L.C. lifted its position in shares of Ally Financial Inc. (NYSE:ALLY) by 176.4% in the fourth quarter, HoldingsChannel.com reports. The firm owned 518,387 shares of the financial services provider’s stock after purchasing an additional 330,859 shares during the period. Basswood Capital Management L.L.C.’s holdings in Ally Financial were worth $23,478,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of ALLY. Royal Bank of Canada raised its stake in Ally Financial by 106.5% in the first quarter. Royal Bank of Canada now owns 251,123 shares of the financial services provider’s stock worth $9,158,000 after buying an additional 129,497 shares in the last quarter. NewEdge Advisors LLC raised its stake in Ally Financial by 22.8% in the first quarter. NewEdge Advisors LLC now owns 2,235 shares of the financial services provider’s stock worth $82,000 after buying an additional 415 shares in the last quarter. Empowered Funds LLC raised its stake in Ally Financial by 11.1% in the first quarter. Empowered Funds LLC now owns 12,900 shares of the financial services provider’s stock worth $470,000 after buying an additional 1,292 shares in the last quarter. Focus Partners Wealth bought a new position in Ally Financial in the first quarter worth about $259,000. Finally, EverSource Wealth Advisors LLC raised its stake in Ally Financial by 374.9% in the second quarter. EverSource Wealth Advisors LLC now owns 1,477 shares of the financial services provider’s stock worth $58,000 after buying an additional 1,166 shares in the last quarter. 88.76% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, insider Douglas R. Timmerman sold 39,675 shares of the stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $45.17, for a total transaction of $1,792,119.75. Following the sale, the insider owned 477,627 shares in the company, valued at $21,574,411.59. This represents a 7.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Stephanie N. Richard sold 5,000 shares of the stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $42.14, for a total transaction of $210,700.00. Following the sale, the insider owned 93,927 shares in the company, valued at approximately $3,958,083.78. The trade was a 5.05% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.46% of the company’s stock.

Ally Financial Trading Up 2.1%

NYSE:ALLY opened at $44.41 on Friday. The company’s 50 day moving average price is $42.81 and its 200-day moving average price is $42.29. Ally Financial Inc. has a 52 week low of $35.90 and a 52 week high of $47.27. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.31. The stock has a market cap of $13.61 billion, a price-to-earnings ratio of 10.83, a PEG ratio of 0.27 and a beta of 1.10.

Ally Financial (NYSE:ALLY) last posted its quarterly earnings results on Friday, April 17th. The financial services provider reported $1.11 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.18. Ally Financial had a net margin of 16.47% and a return on equity of 11.41%. The firm had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.14 billion. During the same quarter in the prior year, the company posted $0.58 earnings per share. The business’s revenue for the quarter was up 36.4% on a year-over-year basis. On average, equities research analysts forecast that Ally Financial Inc. will post 5.28 earnings per share for the current fiscal year.

Ally Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 1st were issued a dividend of $0.30 per share. The ex-dividend date was Friday, May 1st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.7%. Ally Financial’s dividend payout ratio is presently 29.27%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on ALLY shares. Morgan Stanley increased their price target on shares of Ally Financial from $53.00 to $55.00 and gave the stock an “overweight” rating in a research note on Monday, April 20th. Barclays increased their price target on shares of Ally Financial from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Monday, April 20th. Truist Financial set a $54.00 price target on shares of Ally Financial in a research note on Tuesday, April 21st. Evercore reissued an “outperform” rating and issued a $54.00 price target on shares of Ally Financial in a research note on Tuesday, April 21st. Finally, The Goldman Sachs Group increased their price target on shares of Ally Financial from $50.00 to $56.00 and gave the stock a “buy” rating in a research note on Monday, April 20th. Fourteen equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $54.14.

Ally Financial Profile

Ally Financial Inc is a leading digital financial services company headquartered in Detroit, Michigan. The company offers a comprehensive suite of banking, lending, and insurance products designed for retail and commercial customers. Through its online-only platform, Ally Bank provides checking and savings accounts, certificates of deposit, money market accounts, and home mortgages, emphasizing competitive rates and user-friendly mobile and web experiences.

In addition to its banking operations, Ally Financial is a major player in automotive financing and leasing.