Ally Financial (NYSE:ALLY) Price Target Raised to $45.00

Ally Financial (NYSE:ALLY) had its target price boosted by Evercore ISI from $43.00 to $45.00 in a report published on Tuesday, Benzinga reports. They currently have an in-line rating on the financial services provider’s stock.

Several other brokerages also recently issued reports on ALLY. Citigroup began coverage on Ally Financial in a report on Monday. They issued a buy rating and a $50.00 price target for the company. Compass Point raised their target price on Ally Financial from $28.00 to $37.00 and gave the company a neutral rating in a report on Thursday, April 11th. Wells Fargo & Company upped their price target on Ally Financial from $29.00 to $33.00 and gave the stock an underweight rating in a report on Wednesday, April 10th. TD Cowen lifted their price objective on shares of Ally Financial from $42.00 to $43.00 and gave the company a hold rating in a research note on Friday, April 19th. Finally, BMO Capital Markets upped their target price on shares of Ally Financial from $36.00 to $37.00 and gave the company a market perform rating in a research note on Friday, April 19th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Ally Financial has a consensus rating of Hold and a consensus target price of $41.00.

Ally Financial Stock Performance

NYSE ALLY opened at $39.59 on Tuesday. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.92 and a quick ratio of 0.92. Ally Financial has a 1-year low of $22.54 and a 1-year high of $41.77. The firm has a market capitalization of $12.03 billion, a P/E ratio of 16.16, a P/E/G ratio of 0.48 and a beta of 1.41. The business’s 50-day simple moving average is $39.30 and its 200-day simple moving average is $37.34.

Ally Financial (NYSE:ALLY) last announced its quarterly earnings results on Thursday, April 18th. The financial services provider reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.12. Ally Financial had a net margin of 10.59% and a return on equity of 8.35%. The firm had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.96 billion. During the same period in the previous year, the company posted $0.82 earnings per share. Ally Financial’s revenue was down 5.4% compared to the same quarter last year. Equities analysts predict that Ally Financial will post 3 EPS for the current year.

Ally Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.03%. The ex-dividend date of this dividend was Tuesday, April 30th. Ally Financial’s dividend payout ratio is currently 48.98%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC grew its stake in Ally Financial by 47.1% during the 3rd quarter. FMR LLC now owns 3,316,501 shares of the financial services provider’s stock worth $88,484,000 after buying an additional 1,061,651 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Ally Financial by 42.3% in the 3rd quarter. Invesco Ltd. now owns 1,068,079 shares of the financial services provider’s stock worth $28,496,000 after acquiring an additional 317,510 shares during the period. Federated Hermes Inc. increased its holdings in shares of Ally Financial by 170.5% in the 3rd quarter. Federated Hermes Inc. now owns 58,285 shares of the financial services provider’s stock worth $1,555,000 after acquiring an additional 36,739 shares during the period. Northern Trust Corp boosted its stake in Ally Financial by 34.2% during the 3rd quarter. Northern Trust Corp now owns 3,122,515 shares of the financial services provider’s stock valued at $83,309,000 after purchasing an additional 795,754 shares during the period. Finally, Treasurer of the State of North Carolina grew its position in Ally Financial by 7.1% in the 3rd quarter. Treasurer of the State of North Carolina now owns 134,927 shares of the financial services provider’s stock worth $3,600,000 after purchasing an additional 8,955 shares during the last quarter. 88.76% of the stock is owned by institutional investors and hedge funds.

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.