Ally Financial (NYSE:ALLY) Price Target Raised to $55.00

Ally Financial (NYSE:ALLY) had its target price increased by Citigroup from $50.00 to $55.00 in a research note released on Friday morning,Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

A number of other analysts have also recently commented on ALLY. TD Cowen reduced their target price on shares of Ally Financial from $45.00 to $37.00 and set a “hold” rating for the company in a report on Monday, September 23rd. BTIG Research cut Ally Financial from a “buy” rating to a “neutral” rating in a report on Monday, September 16th. Wells Fargo & Company cut their price target on Ally Financial from $37.00 to $32.00 and set an “underweight” rating for the company in a report on Thursday, September 26th. Keefe, Bruyette & Woods decreased their price objective on Ally Financial from $50.00 to $44.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $40.00 price objective on shares of Ally Financial in a research note on Monday, October 21st. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Ally Financial currently has a consensus rating of “Hold” and a consensus target price of $40.69.

Ally Financial Stock Performance

Shares of ALLY stock opened at $36.22 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.36. Ally Financial has a 12-month low of $26.50 and a 12-month high of $45.46. The stock has a market capitalization of $11.04 billion, a P/E ratio of 14.49, a P/E/G ratio of 0.43 and a beta of 1.40. The firm’s 50 day moving average is $35.14 and its 200 day moving average is $38.75.

Ally Financial (NYSE:ALLY) last posted 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 company had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Ally Financial had a return on equity of 8.39% and a net margin of 10.84%. Ally Financial’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.83 earnings per share. Research analysts expect that Ally Financial will post 3 earnings per share for the current year.

Ally Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.31%. The ex-dividend date was Friday, November 1st. Ally Financial’s payout ratio is 48.00%.

Hedge Funds Weigh In On Ally Financial

Several large investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC increased its position 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 during the last quarter. Transcendent Capital Group LLC purchased a new stake in Ally Financial in the 1st quarter worth about $28,000. Venturi Wealth Management LLC lifted its stake in Ally Financial by 153.9% in the third quarter. Venturi Wealth Management LLC now owns 952 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 577 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in shares of Ally Financial during the second quarter valued at approximately $41,000. Finally, Allworth Financial LP grew its stake in shares of 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 buying an additional 421 shares during the last quarter. Institutional investors own 88.76% of the company’s stock.

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.