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

Basswood Capital Management L.L.C. trimmed its holdings in Ally Financial Inc. (NYSE:ALLY) by 26.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm 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.’s holdings in Ally Financial were worth $14,171,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC boosted its holdings in Ally Financial by 510.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 629 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 526 shares during the period. Venturi Wealth Management LLC grew its position in Ally Financial by 153.9% during the third quarter. Venturi Wealth Management LLC now owns 952 shares of the financial services provider’s stock worth $34,000 after buying an additional 577 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in Ally Financial during the second quarter worth about $41,000. Allworth Financial LP increased its stake in Ally Financial by 41.9% during the third quarter. Allworth Financial LP now owns 1,426 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 421 shares during the period. Finally, Hobbs Group Advisors LLC acquired a new position in Ally Financial in the 2nd quarter valued at approximately $52,000. Institutional investors and hedge funds own 88.76% of the company’s stock.

Wall Street Analyst Weigh In

ALLY has been the topic of several recent research reports. Barclays decreased their price objective on Ally Financial from $44.00 to $36.00 and set an “equal weight” rating on the stock in a report on Thursday, September 12th. Evercore ISI lowered their price target on shares of Ally Financial from $47.00 to $38.00 and set an “in-line” rating on the stock in a report on Monday, October 7th. JPMorgan Chase & Co. upgraded shares of Ally Financial from a “neutral” rating to an “overweight” rating and dropped their price objective for the company from $46.00 to $40.00 in a research note on Monday, October 7th. Keefe, Bruyette & Woods dropped their target price on Ally Financial from $50.00 to $44.00 and set an “outperform” rating for the company in a report on Monday, September 16th. Finally, Raymond James upgraded Ally Financial from an “underperform” rating to a “market perform” rating in a research note on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $40.80.

Ally Financial Price Performance

ALLY opened at $39.98 on Monday. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.92 and a quick ratio of 0.92. The stock has a market capitalization of $12.18 billion, a P/E ratio of 15.99, a price-to-earnings-growth ratio of 0.47 and a beta of 1.40. The company’s 50 day simple moving average is $35.90 and its 200-day simple moving average is $38.62. Ally Financial Inc. has a one year low of $28.99 and a one year high of $45.46.

Ally Financial (NYSE:ALLY) last announced its quarterly earnings data on Friday, October 18th. The financial services provider reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.38. The firm had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.03 billion. Ally Financial had a return on equity of 8.39% and a net margin of 10.84%. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period last year, the company earned $0.83 EPS. Sell-side analysts anticipate that Ally Financial Inc. will post 3 earnings per share for the current fiscal year.

Ally Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 1st were issued a dividend of $0.30 per share. The ex-dividend date was Friday, November 1st. This represents a $1.20 annualized dividend and a yield of 3.00%. Ally Financial’s dividend payout ratio is currently 48.00%.

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.