Basswood Capital Management LLC Has Boosted Its Position in Ally Finl INC (ALLY) as Valuation Declined – BZ Weekly


October 29, 2017 – By Peter Erickson

Matthew Lindenbaum increased its stake in Ally Finl Inc (ALLY) by 325.48% based on its latest 2017Q2 regulatory filing with the SEC. Basswood Capital Management Llc bought 3.45M shares as the company’s stock declined 19.04% while stock markets rallied. The hedge fund run by Matthew Lindenbaum held 4.51 million shares of the consumer services company at the end of 2017Q2, valued at $94.34M, up from 1.06M at the end of the previous reported quarter. Basswood Capital Management Llc who had been investing in Ally Finl Inc for a number of months, seems to be bullish on the $11.82B market cap company. The stock increased 1.04% or $0.27 on October 27, reaching $26.28. About 4.40 million shares traded or 30.95% up from the average. Ally Financial Inc (NYSE:ALLY) has risen 12.72% since October 29, 2016 and is uptrending. It has underperformed by 3.98% the S&P500.

Basswood Capital Management Llc, which manages about $2.47 billion and $2.04 billion US Long portfolio, decreased its stake in First Amern Finl Corp (NYSE:FAF) by 212,527 shares to 714,271 shares, valued at $31.92 million in 2017Q2, according to the filing. It also reduced its holding in Svb Finl Group (NASDAQ:SIVB) by 62,008 shares in the quarter, leaving it with 33,917 shares, and cut its stake in Republic First Bancorp Inc (NASDAQ:FRBK).

More notable recent Ally Financial Inc (NYSE:ALLY) news were published by: Seekingalpha.com which released: “Ally Financial’s Q3 cheers the bulls” on October 25, 2017, also Finance.Yahoo.com with their article: “Ally Financial’s (ALLY) Stock Up 4.2% on Q3 Earnings Beat” published on October 26, 2017, Prnewswire.com published: “Ally Financial Declares Dividend on Common Stock” on October 11, 2017. More interesting news about Ally Financial Inc (NYSE:ALLY) were released by: Seekingalpha.com and their article: “Ally Financial’s (ALLY) CEO Jeffrey Jonathan Brown on Q3 2017 Results …” published on October 25, 2017 as well as Zacks.com‘s news article titled: “Ally Financial (ALLY) Beats Q3 Earnings, Revenues Up Y/Y October 25, 2017” with publication date: October 25, 2017.

Ally Financial Inc (NYSE:ALLY) Ratings Coverage

Among 20 analysts covering Ally Financial (NYSE:ALLY), 15 have Buy rating, 1 Sell and 4 Hold. Therefore 75% are positive. Ally Financial has $32.0 highest and $22 lowest target. $26.60’s average target is 1.22% above currents $26.28 stock price. Ally Financial had 42 analyst reports since July 29, 2015 according to SRatingsIntel. The rating was downgraded by Sandler O’Neill on Tuesday, February 28 to “Hold”. Barclays Capital maintained the shares of ALLY in report on Thursday, October 26 with “Overweight” rating. The stock has “Buy” rating by Keefe Bruyette & Woods on Thursday, June 22. As per Friday, October 6, the company rating was maintained by BMO Capital Markets. Barclays Capital maintained Ally Financial Inc (NYSE:ALLY) on Monday, November 2 with “Overweight” rating. The firm earned “Buy” rating on Monday, October 16 by Citigroup. The firm earned “Buy” rating on Wednesday, April 26 by BMO Capital Markets. Jefferies maintained the stock with “Buy” rating in Thursday, October 26 report. The firm has “Buy” rating by Wood given on Friday, April 7. The stock has “Buy” rating by BMO Capital Markets on Wednesday, May 31.

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