Bank of America Lowers Ally Financial (NYSE:ALLY) Price Target to $37.00

Ally Financial (NYSE:ALLY) had its price objective lowered by equities researchers at Bank of America from $46.00 to $37.00 in a report released on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the financial services provider’s stock. Bank of America‘s price objective points to a potential upside of 12.63% from the company’s previous close.

A number of other research firms have also recently issued reports on ALLY. Barclays increased their price objective on shares of Ally Financial from $43.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 18th. Evercore ISI raised their price objective on Ally Financial from $43.00 to $45.00 and gave the company an “in-line” rating in a research note on Tuesday, June 25th. Citigroup assumed coverage on Ally Financial in a research report on Monday, June 24th. They set a “buy” rating and a $50.00 target price on the stock. Morgan Stanley cut their target price on Ally Financial from $49.00 to $45.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of Ally Financial from $51.00 to $50.00 and set a “buy” rating for the company in a research note on Monday, July 1st. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $41.65.

Ally Financial Stock Down 0.1 %

Shares of Ally Financial stock opened at $32.85 on Wednesday. The firm has a market cap of $9.99 billion, a price-to-earnings ratio of 13.41, a PEG ratio of 0.38 and a beta of 1.41. The stock’s 50-day moving average is $41.43 and its 200 day moving average is $39.73. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.92 and a quick ratio of 0.91. Ally Financial has a one year low of $22.54 and a one year high of $45.46.

Ally Financial (NYSE:ALLY) last announced its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.97 EPS for the quarter, topping the consensus estimate of $0.64 by $0.33. Ally Financial had a net margin of 10.26% and a return on equity of 8.37%. The company had revenue of $2 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter last year, the firm posted $0.96 EPS. The company’s quarterly revenue was down 3.8% on a year-over-year basis. Equities research analysts anticipate that Ally Financial will post 3.51 EPS for the current year.

Institutional Trading of Ally Financial

Several hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP grew its holdings in Ally Financial by 11.3% during the second quarter. Dimensional Fund Advisors LP now owns 9,697,795 shares of the financial services provider’s stock valued at $384,715,000 after purchasing an additional 987,489 shares during the period. Boston Partners bought a new position in shares of Ally Financial during the 1st quarter worth $152,079,000. Bank of New York Mellon Corp increased its holdings in Ally Financial by 0.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,697,251 shares of the financial services provider’s stock worth $146,670,000 after acquiring an additional 31,491 shares during the last quarter. Donald Smith & CO. Inc. raised its stake in Ally Financial by 0.8% in the 1st quarter. Donald Smith & CO. Inc. now owns 2,774,487 shares of the financial services provider’s stock valued at $112,616,000 after acquiring an additional 21,657 shares during the period. Finally, Scout Investments Inc. purchased a new stake in Ally Financial during the fourth quarter valued at about $63,080,000. Institutional investors own 88.76% of the company’s stock.

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.