Ally Financial (NYSE:ALLY) Given New $37.00 Price Target at TD Cowen

Ally Financial (NYSE:ALLY) had its target price reduced by TD Cowen from $45.00 to $37.00 in a research note issued to investors on Monday, Benzinga reports. TD Cowen currently has a hold rating on the financial services provider’s stock.

A number of other analysts have also recently weighed in on the company. Bank of America cut their price target on Ally Financial from $46.00 to $37.00 and set a buy rating on the stock in a research note on Wednesday, September 11th. Citigroup started coverage on Ally Financial in a research note on Monday, June 24th. They set a buy rating and a $50.00 target price for the company. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Ally Financial from $51.00 to $50.00 and set a buy rating on the stock in a research note on Monday, July 1st. Royal Bank of Canada reduced their price objective on shares of Ally Financial from $49.00 to $40.00 and set an outperform rating for the company in a research report on Thursday, September 12th. Finally, JPMorgan Chase & Co. raised shares of Ally Financial from an underweight rating to a neutral rating and increased their target price for the company from $39.00 to $45.00 in a research report on Monday, July 8th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Hold and an average target price of $40.76.

Ally Financial Price Performance

ALLY stock opened at $34.80 on Monday. Ally Financial has a 1 year low of $22.54 and a 1 year high of $45.46. The firm has a market capitalization of $10.58 billion, a P/E ratio of 14.20, a P/E/G ratio of 0.37 and a beta of 1.40. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.92 and a quick ratio of 0.91. The business’s 50-day moving average is $39.96 and its two-hundred day moving average is $39.58.

Ally Financial (NYSE:ALLY) last posted its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.97 EPS for the quarter, topping the consensus estimate of $0.64 by $0.33. Ally Financial had a net margin of 10.26% and a return on equity of 8.37%. The company had revenue of $2 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter in the previous year, the business posted $0.96 EPS. The firm’s revenue was down 3.8% on a year-over-year basis. Analysts anticipate that Ally Financial will post 3.15 earnings per share for the current fiscal year.

Ally Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st were paid a $0.30 dividend. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $1.20 annualized dividend and a dividend yield of 3.45%. Ally Financial’s dividend payout ratio (DPR) is currently 48.98%.

Institutional Investors Weigh In On Ally Financial

Several hedge funds have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD lifted its position in Ally Financial by 245.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 608,179 shares of the financial services provider’s stock valued at $24,687,000 after purchasing an additional 432,350 shares during the period. Allianz Asset Management GmbH lifted its holdings in shares of Ally Financial by 18.7% in the 4th quarter. Allianz Asset Management GmbH now owns 1,662,075 shares of the financial services provider’s stock valued at $58,040,000 after buying an additional 261,897 shares during the period. OLD National Bancorp IN boosted its stake in shares of Ally Financial by 3.8% in the second quarter. OLD National Bancorp IN now owns 880,601 shares of the financial services provider’s stock valued at $34,933,000 after buying an additional 32,478 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its holdings in Ally Financial by 15.5% during the first quarter. CANADA LIFE ASSURANCE Co now owns 369,491 shares of the financial services provider’s stock worth $14,988,000 after acquiring an additional 49,539 shares during the period. Finally, Banque Cantonale Vaudoise raised its position in Ally Financial by 309.5% in the first quarter. Banque Cantonale Vaudoise now owns 99,315 shares of the financial services provider’s stock worth $4,031,000 after acquiring an additional 75,063 shares in the last quarter. 88.76% of the stock is owned by institutional investors and hedge funds.

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.