Ally Financial (NYSE:ALLY) Coverage Initiated at Truist Financial

Research analysts at Truist Financial started coverage on shares of Ally Financial (NYSE:ALLY) in a research note issued to investors on Tuesday,Benzinga reports. The firm set a “buy” rating and a $42.00 price target on the financial services provider’s stock. Truist Financial’s price target indicates a potential upside of 17.94% from the stock’s previous close.

ALLY has been the topic of several other reports. Wolfe Research cut Ally Financial from an “outperform” rating to a “peer perform” rating in a report on Thursday, December 5th. JPMorgan Chase & Co. lifted their price target on shares of Ally Financial from $40.00 to $42.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. StockNews.com raised shares of Ally Financial from a “sell” rating to a “hold” rating in a research report on Saturday, October 19th. Bank of America reduced their price target on shares of Ally Financial from $46.00 to $37.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Ally Financial from $44.00 to $56.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $42.67.

Ally Financial Trading Down 0.5 %

ALLY stock opened at $35.61 on Tuesday. The stock has a market cap of $10.85 billion, a price-to-earnings ratio of 14.24, a PEG ratio of 0.46 and a beta of 1.44. The business’s 50-day moving average is $36.87 and its 200 day moving average is $38.17. Ally Financial has a 12-month low of $31.77 and a 12-month high of $45.46. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.36.

Ally Financial (NYSE:ALLY) last issued its earnings results on Friday, October 18th. The financial services provider reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.38. The business had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.03 billion. Ally Financial had a return on equity of 8.39% and a net margin of 10.84%. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.83 EPS. On average, sell-side analysts anticipate that Ally Financial will post 3 EPS for the current fiscal year.

Institutional Trading of Ally Financial

A number of large investors have recently modified their holdings of the stock. CIBC Asset Management Inc increased its position in shares of Ally Financial by 1.9% during the third quarter. CIBC Asset Management Inc now owns 15,638 shares of the financial services provider’s stock worth $557,000 after acquiring an additional 293 shares during the period. Maverick Capital Ltd. increased its position in shares of Ally Financial by 1.2% during the third quarter. Maverick Capital Ltd. now owns 26,120 shares of the financial services provider’s stock worth $930,000 after acquiring an additional 299 shares during the period. Blue Trust Inc. increased its position in shares of Ally Financial by 8.2% during the third quarter. Blue Trust Inc. now owns 4,660 shares of the financial services provider’s stock worth $166,000 after acquiring an additional 352 shares during the period. Allworth Financial LP increased its position in shares of Ally Financial by 41.9% during 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 period. Finally, Arizona State Retirement System increased its position in shares of Ally Financial by 0.6% during the second quarter. Arizona State Retirement System now owns 75,147 shares of the financial services provider’s stock worth $2,981,000 after acquiring an additional 480 shares during the period. Hedge funds and other institutional investors 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.