Ally Financial (NYSE:ALLY) Lowered to “Neutral” at BTIG Research

BTIG Research lowered shares of Ally Financial (NYSE:ALLY) from a buy rating to a neutral rating in a research note released on Monday morning, MarketBeat reports.

Several other research analysts have also recently weighed in on ALLY. Bank of America decreased their target price on Ally Financial from $46.00 to $37.00 and set a buy rating for the company in a research note on Wednesday, September 11th. Barclays dropped their target price on shares of Ally Financial from $44.00 to $36.00 and set an equal weight rating on the stock in a report on Thursday, September 12th. JPMorgan Chase & Co. upgraded shares of Ally Financial from an underweight rating to a neutral rating and raised their target price for the stock from $39.00 to $45.00 in a report on Monday, July 8th. Wells Fargo & Company upped their price target on Ally Financial from $33.00 to $37.00 and gave the company an underweight rating in a report on Thursday, July 18th. Finally, Keefe, Bruyette & Woods raised their price objective on Ally Financial from $45.00 to $48.00 and gave the stock an outperform rating in a research note on Monday, July 8th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Ally Financial currently has a consensus rating of Hold and an average price target of $41.41.

Ally Financial Stock Performance

ALLY stock opened at $33.05 on Monday. The company has a 50-day simple moving average of $41.15 and a 200 day simple moving average of $39.72. The company has a market capitalization of $10.05 billion, a P/E ratio of 13.49, a PEG ratio of 0.32 and a beta of 1.40. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 1.39. Ally Financial has a fifty-two week low of $22.54 and a fifty-two week high of $45.46.

Ally Financial (NYSE:ALLY) last issued its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $2.03 billion. During the same period in the prior year, the business posted $0.96 EPS. The business’s revenue for the quarter was down 3.8% compared to the same quarter last year. Sell-side analysts predict that Ally Financial will post 3.51 earnings per share for the current fiscal year.

Ally Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st were paid a $0.30 dividend. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $1.20 annualized dividend and a yield of 3.63%. Ally Financial’s dividend payout ratio is presently 48.98%.

Institutional Investors Weigh In On Ally Financial

Institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets raised its holdings in shares of Ally Financial by 133.6% during the fourth quarter. BNP Paribas Financial Markets now owns 95,397 shares of the financial services provider’s stock worth $3,331,000 after acquiring an additional 54,562 shares in the last quarter. Avantax Advisory Services Inc. increased its position in Ally Financial by 10.9% in the 4th quarter. Avantax Advisory Services Inc. now owns 17,835 shares of the financial services provider’s stock worth $623,000 after purchasing an additional 1,749 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Ally Financial by 3.2% during the 4th quarter. Janney Montgomery Scott LLC now owns 35,909 shares of the financial services provider’s stock worth $1,254,000 after purchasing an additional 1,126 shares in the last quarter. Norges Bank acquired a new stake in shares of Ally Financial during the 4th quarter valued at about $62,869,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Ally Financial in the 4th quarter valued at approximately $459,000. 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.