Ally Financial (NYSE:ALLY) PT Lowered to $37.00 at Bank of America

Ally Financial (NYSE:ALLY) had its target price lowered by Bank of America from $46.00 to $37.00 in a research report sent to investors on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the financial services provider’s stock.

ALLY has been the topic of several other research reports. Morgan Stanley decreased their price target on Ally Financial from $49.00 to $45.00 and set an overweight rating on the stock in a report on Wednesday. JPMorgan Chase & Co. upgraded Ally Financial from an underweight rating to a neutral rating and increased their target price for the stock from $39.00 to $45.00 in a research note on Monday, July 8th. Evercore ISI increased their target price on Ally Financial from $43.00 to $45.00 and gave the stock an in-line rating in a research note on Tuesday, June 25th. BTIG Research assumed coverage on Ally Financial in a research note on Friday, June 7th. They issued a buy rating and a $51.00 target price on the stock. Finally, Royal Bank of Canada increased their target price on Ally Financial from $46.00 to $49.00 and gave the stock an outperform rating in a research note on Thursday, July 18th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Hold and an average price target of $41.65.

Ally Financial Stock Performance

NYSE:ALLY opened at $32.97 on Wednesday. The stock’s fifty day moving average is $41.30 and its 200 day moving average is $39.73. Ally Financial has a fifty-two week low of $22.54 and a fifty-two week high of $45.46. The firm has a market capitalization of $10.02 billion, a PE ratio of 13.46, a PEG ratio of 0.32 and a beta of 1.40. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.91 and a current ratio of 0.92.

Ally Financial (NYSE:ALLY) last released its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.33. Ally Financial had a return on equity of 8.37% and a net margin of 10.26%. The company had revenue of $2 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the prior year, the firm posted $0.96 EPS. Ally Financial’s quarterly revenue was down 3.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Ally Financial will post 3.51 earnings per share for the current year.

Ally Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 1st were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date was Thursday, August 1st. Ally Financial’s payout ratio is currently 48.98%.

Institutional Investors Weigh In On Ally Financial

Institutional investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC boosted 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 purchasing an additional 526 shares in the last quarter. Transcendent Capital Group LLC acquired a new stake in Ally Financial in the first quarter worth about $28,000. Rise Advisors LLC acquired a new stake in Ally Financial in the first quarter worth about $32,000. Quarry LP boosted its holdings in 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 acquiring an additional 598 shares in the last quarter. Finally, SYSTM Wealth Solutions LLC boosted its holdings in Ally Financial by 571.7% in the first quarter. SYSTM Wealth Solutions LLC now owns 927 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 789 shares in the last quarter. Institutional investors own 88.76% of the company’s stock.

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.