BMO Capital Markets reissued their buy rating on shares of Ally Financial Inc. (NYSE:ALLY) in a research report report published on Friday morning. The firm currently has a $26.00 target price on the financial services provider’s stock.
A number of other research firms have also issued reports on ALLY. Piper Jaffray Companies restated a buy rating on shares of Ally Financial in a report on Wednesday, October 4th. Credit Suisse Group restated a buy rating and issued a $28.00 target price on shares of Ally Financial in a report on Wednesday, October 4th. Jefferies Group LLC reiterated a buy rating on shares of Ally Financial in a report on Friday, September 29th. BidaskClub upgraded Ally Financial from a buy rating to a strong-buy rating in a report on Thursday, September 28th. Finally, ValuEngine upgraded Ally Financial from a buy rating to a strong-buy rating in a report on Friday, September 22nd. One analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company. Ally Financial currently has a consensus rating of Buy and a consensus target price of $25.77.
Ally Financial (NYSE ALLY) opened at 24.40 on Friday. The firm has a market capitalization of $11.71 billion, a price-to-earnings ratio of 12.44 and a beta of 1.44. The company has a 50-day moving average price of $22.96 and a 200 day moving average price of $21.05. Ally Financial has a 1-year low of $16.68 and a 1-year high of $24.57.
Ally Financial (NYSE:ALLY) last released its earnings results on Thursday, July 27th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.05. The company had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.42 billion. Ally Financial had a return on equity of 7.55% and a net margin of 13.83%. During the same quarter in the prior year, the company earned $0.54 earnings per share. Equities analysts anticipate that Ally Financial will post $2.27 earnings per share for the current year.
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Ally Financial declared that its board has authorized a stock buyback plan on Wednesday, June 28th that authorizes the company to buyback $760.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to repurchase up to 7.5% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Toronto Dominion Bank raised its holdings in Ally Financial by 23.0% during the second quarter. Toronto Dominion Bank now owns 5,714 shares of the financial services provider’s stock valued at $119,000 after buying an additional 1,070 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in Ally Financial by 668.0% during the first quarter. Tower Research Capital LLC TRC now owns 6,950 shares of the financial services provider’s stock valued at $141,000 after buying an additional 6,045 shares in the last quarter. Capstone Asset Management Co. bought a new position in Ally Financial during the second quarter valued at about $208,000. Achmea Investment Management B.V. bought a new position in Ally Financial during the first quarter valued at about $210,000. Finally, Twin Tree Management LP bought a new position in Ally Financial during the second quarter valued at about $215,000.
Ally Financial Company Profile
Ally Financial Inc is a digital financial services company. The Company is a bank and financial holding company. Its segments include Automotive Finance operations, Insurance operations, Mortgage Finance operations, Corporate Finance operations, and Corporate and Other. The Automotive Finance operations segment provides the United States-based automotive financing services to consumers and automotive dealers, and automotive and equipment financing services to companies and municipalities.
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