Revenue Update on Ally Financial Inc(NYSE:ALLY)

Ally Financial Inc(NYSE:ALLY) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Jul 26, 2016. Company reported revenue of $1.36B. Analysts estimated a revenue of $1.33B. Earnings per share were $0.54. Analysts had estimated an EPS of $0.51.

In a different note, Macquarie said it Initiates Coverage on Ally Financial Inc, according to a research note issued on May 11, 2016. The shares have been rated ‘Neutral’ by the firm. On May 4, 2016, Deutsche Bank said it Maintains its rating on Ally Financial Inc. In the research note, the firm Lowers the price-target to $27.00 per share. The shares have been rated ‘Buy’ by the firm.

Ally Financial Inc (ALLY) made into the market gainers list on Fridays trading session with the shares advancing 0.89% or 0.16 points. Due to strong positive momentum, the stock ended at $18.04, which is also near the day’s high of $18.07. The stock began the session at $17.85 and the volume stood at 37,11,369 shares. The 52-week high of the shares is $23.24 and the 52 week low is $14.55. The company has a current market capitalization of $8,727 M and it has 48,37,45,680 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On May 5, 2016, Marjorie Magner (director) purchased 1,000 shares at $16.72 per share price.Also, On May 4, 2016, Jeffrey Jonathan Brown (CEO) purchased 12,000 shares at $16.81 per share price.On May 4, 2016, Christopher A Halmy (CFO) purchased 6,000 shares at $16.90 per share price, according to the Form-4 filing with the securities and exchange commission.

Ally Financial Inc. is a financial holding company and a bank holding company. It is an independent diversified financial services firm. Its banking subsidiary Ally Bank is an indirect wholly owned subsidiary of the Company and a franchise in the Internet telephone mobile and mail banking market. Dealer Financial Services which includes the Company’s Automotive Finance and Insurance operations and Mortgage are its primary lines of business. Ally Bank offers deposit products such as checking savings and certificates of deposit (CDs) as well as several raise-your-rate CD terms IRA deposit products Popmoney person-to-person transfer service eCheck remote deposit capture Ally Perks debit rewards program and Mobile Banking.

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