OLD National Bancorp IN Cuts Stock Holdings in Ally Financial Inc. $ALLY

OLD National Bancorp IN decreased its holdings in shares of Ally Financial Inc. (NYSE:ALLY) by 12.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 821,810 shares of the financial services provider’s stock after selling 121,101 shares during the quarter. Ally Financial accounts for approximately 0.6% of OLD National Bancorp IN’s portfolio, making the stock its 22nd largest position. OLD National Bancorp IN’s holdings in Ally Financial were worth $32,009,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Fulton Bank N.A. grew its holdings in shares of Ally Financial by 1.3% during the second quarter. Fulton Bank N.A. now owns 19,888 shares of the financial services provider’s stock worth $775,000 after purchasing an additional 260 shares in the last quarter. Integrated Wealth Concepts LLC grew its holdings in shares of Ally Financial by 0.7% during the first quarter. Integrated Wealth Concepts LLC now owns 40,363 shares of the financial services provider’s stock worth $1,472,000 after purchasing an additional 300 shares in the last quarter. Signet Financial Management LLC boosted its stake in Ally Financial by 5.6% in the first quarter. Signet Financial Management LLC now owns 6,724 shares of the financial services provider’s stock worth $245,000 after buying an additional 357 shares in the last quarter. Bessemer Group Inc. boosted its stake in Ally Financial by 59.6% in the first quarter. Bessemer Group Inc. now owns 1,010 shares of the financial services provider’s stock worth $37,000 after buying an additional 377 shares in the last quarter. Finally, NewEdge Advisors LLC boosted 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. Hedge funds and other institutional investors own 88.76% of the company’s stock.

Ally Financial Stock Performance

NYSE:ALLY opened at $39.58 on Friday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.92 and a current ratio of 0.92. The firm has a market cap of $12.18 billion, a PE ratio of 25.70, a price-to-earnings-growth ratio of 0.31 and a beta of 1.18. The business has a 50 day moving average price of $40.12 and a 200-day moving average price of $37.33. Ally Financial Inc. has a fifty-two week low of $29.52 and a fifty-two week high of $44.83.

Ally Financial (NYSE:ALLY) last announced its earnings results on Friday, July 18th. The financial services provider reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.21. The company 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 firm’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.97 earnings per share. Equities research analysts predict that Ally Financial Inc. will post 3.57 earnings per share for the current year.

Ally Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date was Friday, August 1st. Ally Financial’s dividend payout ratio is currently 77.92%.

Analyst Ratings Changes

Several brokerages have issued reports on ALLY. 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. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Ally Financial in a research note on Monday, July 14th. Keefe, Bruyette & Woods cut their target price on Ally Financial from $56.00 to $51.00 and set an “outperform” rating for the company in a research note on Wednesday. Truist Financial upped their target price on Ally Financial from $44.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Finally, Citigroup upped their target price on Ally Financial from $59.00 to $70.00 and gave the stock a “buy” rating in a research note on Monday, September 15th. Nine research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $45.36.

Ally Financial Company 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.