BMO Capital Markets Increases Ally Financial (NYSE:ALLY) Price Target to $37.00

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

Other analysts also recently issued research reports about the company. TheStreet raised Ally Financial from a c+ rating to a b- rating in a research note on Thursday, January 11th. Evercore ISI lifted their price target on Ally Financial from $41.00 to $43.00 and gave the company an in-line rating in a research note on Thursday, March 28th. Morgan Stanley raised Ally Financial from an equal weight rating to an overweight rating and lifted their price target for the company from $37.00 to $47.00 in a research note on Thursday, February 8th. Bank of America raised Ally Financial from a neutral rating to a buy rating and lifted their price target for the company from $42.00 to $46.00 in a research note on Tuesday, April 9th. Finally, Raymond James cut Ally Financial from a market perform rating to an underperform rating in a report on Friday, January 5th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Hold and an average target price of $38.47.

Ally Financial Stock Performance

ALLY stock opened at $39.76 on Friday. The business’s fifty day moving average is $37.76 and its 200-day moving average is $33.13. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.50. The company has a market cap of $12.09 billion, a P/E ratio of 16.23, a price-to-earnings-growth ratio of 0.58 and a beta of 1.40. Ally Financial has a twelve month low of $22.54 and a twelve month high of $41.56.

Ally Financial (NYSE:ALLY) last posted its quarterly earnings results on Thursday, April 18th. The financial services provider reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.12. The company had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.96 billion. Ally Financial had a return on equity of 8.35% and a net margin of 10.59%. The firm’s quarterly revenue was down 5.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.82 EPS. Equities research analysts forecast that Ally Financial will post 2.9 EPS for the current year.

Ally Financial Dividend Announcement

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

Institutional Trading of Ally Financial

A number of large investors have recently bought and sold shares of ALLY. NBC Securities Inc. bought a new position in Ally Financial in the 3rd quarter valued at about $26,000. Northwest Financial Advisors bought a new position in Ally Financial in the 4th quarter valued at about $31,000. Rise Advisors LLC bought a new position in Ally Financial in the 1st quarter valued at about $32,000. Quarry LP lifted its position in Ally Financial by 165.7% in the 4th quarter. Quarry LP now owns 959 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 598 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd lifted its position in Ally Financial by 337.8% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,563 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 1,206 shares in the last quarter. 88.76% of the stock is currently 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.