Fulton Bank N.A. Acquires 1,581 Shares of Ally Financial Inc. (NYSE:ALLY)

Fulton Bank N.A. lifted its stake in Ally Financial Inc. (NYSE:ALLY) by 9.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,954 shares of the financial services provider’s stock after acquiring an additional 1,581 shares during the period. Fulton Bank N.A.’s holdings in Ally Financial were worth $675,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC grew its stake in Ally Financial by 510.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 629 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 526 shares in the last quarter. Transcendent Capital Group LLC purchased a new position in shares of Ally Financial during the 1st quarter valued at $28,000. Rise Advisors LLC bought a new position in shares of Ally Financial in the first quarter worth $32,000. Quarry LP raised its position in shares of Ally Financial by 165.7% in the fourth quarter. Quarry LP now owns 959 shares of the financial services provider’s stock worth $33,000 after buying an additional 598 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new stake in Ally Financial during the second quarter valued at $41,000. 88.76% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Citigroup assumed coverage on Ally Financial in a report on Monday, June 24th. They issued a “buy” rating and a $50.00 price target on the stock. Wells Fargo & Company lowered their target price on shares of Ally Financial from $37.00 to $32.00 and set an “underweight” rating on the stock in a research note on Thursday, September 26th. Morgan Stanley cut their price target on shares of Ally Financial from $49.00 to $45.00 and set an “overweight” rating for the company in a research note on Wednesday, September 11th. Keefe, Bruyette & Woods lowered their price objective on shares of Ally Financial from $50.00 to $44.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Finally, Evercore ISI cut their target price on shares of Ally Financial from $47.00 to $38.00 and set an “in-line” rating for the company in a research report on Monday. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $40.63.

Ally Financial Stock Performance

Shares of ALLY stock opened at $34.88 on Wednesday. The company has a market capitalization of $10.60 billion, a P/E ratio of 14.24, a PEG ratio of 0.37 and a beta of 1.39. Ally Financial Inc. has a fifty-two week low of $22.54 and a fifty-two week high of $45.46. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.91 and a current ratio of 0.92. The stock has a 50 day moving average price of $38.71 and a two-hundred day moving average price of $39.39.

Ally Financial (NYSE:ALLY) last posted its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.33. The company had revenue of $2 billion during the quarter, compared to analyst estimates of $2.03 billion. Ally Financial had a net margin of 10.26% and a return on equity of 8.37%. The firm’s revenue was down 3.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.96 EPS. Analysts expect that Ally Financial Inc. will post 3.15 earnings per share for the current year.

Ally Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 1st were paid a $0.30 dividend. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $1.20 annualized dividend and a dividend yield of 3.44%. Ally Financial’s payout ratio is presently 48.98%.

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.