Analysts Set Ally Financial Inc. (NYSE:ALLY) PT at $40.38

Ally Financial Inc. (NYSE:ALLY) has received a consensus recommendation of “Hold” from the seventeen research firms that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and nine have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $40.38.

A number of brokerages have recently issued reports on ALLY. TD Cowen cut their price objective on shares of Ally Financial from $45.00 to $37.00 and set a “hold” rating on the stock in a research report on Monday, September 23rd. Wells Fargo & Company cut their price target on shares of Ally Financial from $37.00 to $32.00 and set an “underweight” rating on the stock in a report on Thursday, September 26th. Morgan Stanley decreased their price objective on Ally Financial from $45.00 to $41.00 and set an “overweight” rating for the company in a report on Monday, October 21st. Evercore ISI dropped their target price on Ally Financial from $47.00 to $38.00 and set an “in-line” rating on the stock in a research note on Monday, October 7th. Finally, BTIG Research cut Ally Financial from a “buy” rating to a “neutral” rating in a research note on Monday, September 16th.

Ally Financial Stock Up 2.9 %

Ally Financial stock opened at $36.12 on Friday. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 1.39. The firm has a market cap of $10.98 billion, a P/E ratio of 14.74, a P/E/G ratio of 0.42 and a beta of 1.39. The business has a fifty day moving average of $36.55 and a two-hundred day moving average of $38.93. Ally Financial has a twelve month low of $23.52 and a twelve month high of $45.46.

Ally Financial (NYSE:ALLY) last issued its quarterly earnings data on Friday, October 18th. The financial services provider reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.38. Ally Financial had a return on equity of 8.37% and a net margin of 10.26%. The firm had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same period in the prior year, the business posted $0.83 EPS. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. On average, analysts forecast that Ally Financial will post 2.87 earnings per share for the current fiscal year.

Ally Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be given a dividend of $0.30 per share. The ex-dividend date is Friday, November 1st. This represents a $1.20 annualized dividend and a yield of 3.32%. Ally Financial’s dividend payout ratio is presently 48.98%.

Hedge Funds Weigh In On Ally Financial

A number of large investors have recently bought and sold shares of the business. Fifth Third Bancorp grew its position in shares of Ally Financial by 1.2% in the second quarter. Fifth Third Bancorp now owns 23,275 shares of the financial services provider’s stock valued at $923,000 after purchasing an additional 278 shares during the period. Blue Trust Inc. lifted its position in shares of Ally Financial by 8.2% in the third quarter. Blue Trust Inc. now owns 4,660 shares of the financial services provider’s stock valued at $166,000 after acquiring an additional 352 shares in the last quarter. Allworth Financial LP boosted its stake in shares of Ally Financial by 41.9% in the third quarter. Allworth Financial LP now owns 1,426 shares of the financial services provider’s stock worth $51,000 after acquiring an additional 421 shares during the last quarter. Versant Capital Management Inc increased its position in shares of Ally Financial by 39.7% during the second quarter. Versant Capital Management Inc now owns 1,630 shares of the financial services provider’s stock worth $65,000 after purchasing an additional 463 shares in the last quarter. Finally, Arizona State Retirement System raised its stake in Ally Financial by 0.6% in the 2nd quarter. Arizona State Retirement System now owns 75,147 shares of the financial services provider’s stock valued at $2,981,000 after purchasing an additional 480 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.