Ally Financial (NYSE:ALLY) Stock Rating Upgraded by Raymond James

Raymond James upgraded shares of Ally Financial (NYSE:ALLY) from an underperform rating to a market perform rating in a research report released on Monday, MarketBeat.com reports.

Other equities analysts have also issued research reports about the stock. Royal Bank of Canada cut their price target on shares of Ally Financial from $49.00 to $40.00 and set an “outperform” rating on the stock in a report on Thursday, September 12th. StockNews.com raised Ally Financial from a “sell” rating to a “hold” rating in a report on Saturday, October 19th. Evercore ISI decreased their price target on Ally Financial from $47.00 to $38.00 and set an “in-line” rating for the company in a research note on Monday, October 7th. Barclays lowered their price objective on Ally Financial from $44.00 to $36.00 and set an “equal weight” rating for the company in a research report on Thursday, September 12th. Finally, JPMorgan Chase & Co. upgraded shares of Ally Financial from a “neutral” rating to an “overweight” rating and lowered their price target for the stock from $46.00 to $40.00 in a report on Monday, October 7th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $40.38.

Ally Financial Price Performance

Ally Financial stock opened at $34.49 on Monday. The stock has a 50-day moving average price of $37.25 and a two-hundred day moving average price of $39.04. Ally Financial has a 12 month low of $22.54 and a 12 month high of $45.46. The company has a market capitalization of $10.48 billion, a PE ratio of 14.08, a P/E/G ratio of 0.42 and a beta of 1.39. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 1.39.

Ally Financial (NYSE:ALLY) last released its quarterly earnings data on Friday, October 18th. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.38. Ally Financial had a return on equity of 8.37% and a net margin of 10.26%. The company had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the prior year, the firm posted $0.83 earnings per share. The firm’s revenue was up 6.9% compared to the same quarter last year. Analysts expect that Ally Financial will post 2.87 EPS for the current year.

Ally Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be paid a $0.30 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $1.20 dividend on an annualized basis and a yield of 3.48%. Ally Financial’s dividend payout ratio (DPR) is presently 48.98%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD raised its stake in shares of 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 worth $24,687,000 after purchasing an additional 432,350 shares during the last quarter. OLD National Bancorp IN boosted its holdings in Ally Financial by 3.8% during the 2nd quarter. OLD National Bancorp IN now owns 880,601 shares of the financial services provider’s stock worth $34,933,000 after acquiring an additional 32,478 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in shares of Ally Financial by 15.5% in the first quarter. CANADA LIFE ASSURANCE Co now owns 369,491 shares of the financial services provider’s stock valued at $14,988,000 after purchasing an additional 49,539 shares during the last quarter. Fulton Bank N.A. bought a new position in shares of Ally Financial during the second quarter valued at about $689,000. Finally, Duality Advisers LP purchased a new position in Ally Financial during the first quarter worth about $1,000,000. 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.