Ally Financial (NYSE:ALLY) Price Target Raised to $37.00

Ally Financial (NYSE:ALLY) had its price target lifted by BMO Capital Markets from $36.00 to $37.00 in a research note released on Friday, Benzinga reports. They currently have a market perform rating on the financial services provider’s stock.

Several other research firms have also commented on ALLY. Barclays lifted their price objective on shares of Ally Financial from $32.00 to $43.00 and gave the stock an equal weight rating in a research note on Tuesday, January 2nd. Raymond James lowered shares of Ally Financial from a market perform rating to an underperform rating in a research note on Friday, January 5th. Royal Bank of Canada reaffirmed an outperform rating and set a $40.00 price objective on shares of Ally Financial in a research note on Monday, January 22nd. Compass Point lifted their price objective on shares of Ally Financial from $28.00 to $37.00 and gave the stock a neutral rating in a research note on Thursday, April 11th. Finally, TheStreet raised shares of Ally Financial from a c+ rating to a b- rating in a research note on Thursday, January 11th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Ally Financial has an average rating of Hold and a consensus target price of $38.47.

Ally Financial Trading Up 1.0 %

Shares of ALLY opened at $39.08 on Friday. The company’s fifty day moving average is $37.71 and its 200 day moving average is $32.92. Ally Financial has a fifty-two week low of $22.54 and a fifty-two week high of $41.56. The stock has a market capitalization of $11.88 billion, a PE ratio of 13.07, a P/E/G ratio of 0.53 and a beta of 1.40. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.90 and a current ratio of 0.90.

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, topping the consensus estimate of $0.33 by $0.12. Ally Financial had a net margin of 12.42% and a return on equity of 9.41%. The company had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.96 billion. During the same quarter in the previous year, the business posted $0.82 earnings per share. Ally Financial’s quarterly revenue was down 5.4% on a year-over-year basis. Sell-side analysts expect that Ally Financial will post 2.94 earnings per share for the current fiscal year.

Ally Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date of this dividend is Tuesday, April 30th. Ally Financial’s dividend payout ratio (DPR) is presently 40.13%.

Institutional Trading of Ally Financial

Hedge funds have recently added to or reduced their stakes in the business. Salem Investment Counselors Inc. lifted its stake in Ally Financial by 115.0% in the first quarter. Salem Investment Counselors Inc. now owns 645 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 345 shares during the period. Rise Advisors LLC bought a new position in Ally Financial in the first quarter worth about $32,000. Northwest Financial Advisors bought a new position in Ally Financial in the fourth quarter worth about $31,000. Quarry LP raised 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 purchasing an additional 598 shares in the last quarter. Finally, NBC Securities Inc. bought a new position in Ally Financial in the third quarter worth about $26,000. 88.76% of the stock is owned by hedge funds and other institutional investors.

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.