Ally Financial (NYSE:ALLY) Now Covered by Truist Financial

Equities research analysts at Truist Financial assumed coverage on shares of Ally Financial (NYSE:ALLY) in a note issued to investors on Tuesday,Benzinga reports. The brokerage set a “buy” rating and a $42.00 price target on the financial services provider’s stock. Truist Financial’s price target would suggest a potential upside of 16.09% from the company’s current price.

A number of other equities analysts have also recently weighed in on the company. Wells Fargo & Company reduced 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. Wolfe Research lowered Ally Financial from an “outperform” rating to a “peer perform” rating in a research report on Thursday, December 5th. BTIG Research lowered shares of Ally Financial from a “buy” rating to a “neutral” rating in a report on Monday, September 16th. JPMorgan Chase & Co. increased their price objective on shares of Ally Financial from $40.00 to $42.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Finally, Evercore ISI cut their target price on shares of Ally Financial from $47.00 to $38.00 and set an “in-line” rating for the company in a research note on Monday, October 7th. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $42.67.

Ally Financial Trading Up 0.9 %

Ally Financial stock opened at $36.18 on Tuesday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.36. The firm has a market cap of $11.02 billion, a PE ratio of 14.47, a P/E/G ratio of 0.46 and a beta of 1.44. The stock’s 50 day simple moving average is $36.86 and its two-hundred day simple moving average is $38.21. Ally Financial has a 12 month low of $31.77 and a 12 month high of $45.46.

Ally Financial (NYSE:ALLY) last released its quarterly earnings results on Friday, October 18th. The financial services provider reported $0.95 EPS for the quarter, beating the consensus estimate of $0.57 by $0.38. Ally Financial had a net margin of 10.84% and a return on equity of 8.39%. The company had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter last year, the business earned $0.83 earnings per share. The firm’s revenue was up 6.9% on a year-over-year basis. Analysts anticipate that Ally Financial will post 3 earnings per share for the current year.

Institutional Trading of Ally Financial

Hedge funds and other institutional investors have recently modified their holdings of the business. Jacobs Levy Equity Management Inc. boosted its stake in Ally Financial by 217.0% during the third quarter. Jacobs Levy Equity Management Inc. now owns 2,283,214 shares of the financial services provider’s stock worth $81,260,000 after buying an additional 1,563,008 shares during the period. Wedge Capital Management L L P NC increased its holdings in Ally Financial by 584.7% in the 3rd quarter. Wedge Capital Management L L P NC now owns 1,395,308 shares of the financial services provider’s stock valued at $49,659,000 after purchasing an additional 1,191,529 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Ally Financial by 11.3% in the second quarter. Dimensional Fund Advisors LP now owns 9,697,795 shares of the financial services provider’s stock valued at $384,715,000 after purchasing an additional 987,489 shares during the period. Assenagon Asset Management S.A. lifted its stake in Ally Financial by 2,088.2% during the third quarter. Assenagon Asset Management S.A. now owns 728,864 shares of the financial services provider’s stock worth $25,940,000 after purchasing an additional 695,555 shares in the last quarter. Finally, Point72 Asset Management L.P. purchased a new position in shares of Ally Financial during the third quarter worth $21,571,000. 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.