TD Cowen Raises Ally Financial (NYSE:ALLY) Price Target to $43.00

Ally Financial (NYSE:ALLY) had its target price raised by TD Cowen from $42.00 to $43.00 in a research note issued to investors on Friday, Benzinga reports. They currently have a hold rating on the financial services provider’s stock.

Several other research analysts have also issued reports on ALLY. Deutsche Bank Aktiengesellschaft started coverage on shares of Ally Financial in a research report on Wednesday, January 10th. They issued a buy rating and a $47.00 price target on the stock. Bank of America upgraded shares of Ally Financial from a neutral rating to a buy rating and lifted their price target for the stock from $42.00 to $46.00 in a research report on Tuesday, April 9th. Morgan Stanley upgraded shares of Ally Financial from an equal weight rating to an overweight rating and lifted their price target for the stock from $37.00 to $47.00 in a research report on Thursday, February 8th. The Goldman Sachs Group restated a buy rating on shares of Ally Financial in a research report on Thursday, February 1st. Finally, Wells Fargo & Company lifted their price target on shares of Ally Financial from $29.00 to $33.00 and gave the stock an underweight rating in a research report on Wednesday, April 10th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Hold and an average price target of $38.47.

Ally Financial Price Performance

Shares of NYSE:ALLY opened at $39.76 on Friday. Ally Financial has a 12 month low of $22.54 and a 12 month high of $41.56. The stock has a market cap of $12.09 billion, a price-to-earnings ratio of 16.23, a PEG ratio of 0.58 and a beta of 1.40. The stock’s 50 day moving average price is $37.76 and its 200 day moving average price is $33.13. 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 (NYSE:ALLY) last announced its earnings results on Thursday, April 18th. The financial services provider reported $0.45 EPS for the quarter, topping the consensus estimate of $0.33 by $0.12. Ally Financial had a return on equity of 8.35% and a net margin of 10.59%. The firm 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 company earned $0.82 earnings per share. The firm’s quarterly revenue was down 5.4% compared to the same quarter last year. Equities research analysts anticipate that Ally Financial will post 2.9 earnings per share for the current fiscal year.

Ally Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date of this dividend is Tuesday, April 30th. Ally Financial’s dividend payout ratio (DPR) is currently 48.98%.

Institutional Investors Weigh In On Ally Financial

A number of institutional investors have recently modified their holdings of ALLY. Northern Trust Corp lifted its stake in shares of Ally Financial by 34.2% in 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 last quarter. Private Management Group Inc. lifted its stake in shares of Ally Financial by 9.4% in the 3rd quarter. Private Management Group Inc. now owns 819,136 shares of the financial services provider’s stock valued at $21,855,000 after purchasing an additional 70,615 shares during the last quarter. ING Groep NV acquired a new stake in shares of Ally Financial in the 3rd quarter valued at $4,336,000. Sherbrooke Park Advisers LLC acquired a new stake in shares of Ally Financial in the 3rd quarter valued at $724,000. Finally, Nordea Investment Management AB lifted its stake in shares of Ally Financial by 8.1% in the 4th quarter. Nordea Investment Management AB now owns 23,442 shares of the financial services provider’s stock valued at $816,000 after purchasing an additional 1,755 shares during the last quarter. Institutional investors and hedge funds own 88.76% of the company’s stock.

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.