Ally Financial (NYSE:ALLY) Given New $43.00 Price Target at TD Cowen

Ally Financial (NYSE:ALLY) had its price target increased by TD Cowen from $42.00 to $43.00 in a research note published on Friday, Benzinga reports. The brokerage currently has a hold rating on the financial services provider’s stock.

Other research analysts also recently issued reports about the company. StockNews.com upgraded Ally Financial from a sell rating to a hold rating in a report on Wednesday. The Goldman Sachs Group reissued a buy rating on shares of Ally Financial in a research report on Thursday, February 1st. Morgan Stanley raised Ally Financial from an equal weight rating to an overweight rating and raised their price objective for the stock from $37.00 to $47.00 in a research report on Thursday, February 8th. Wells Fargo & Company raised their price objective on Ally Financial from $29.00 to $33.00 and gave the stock an underweight rating in a research report on Wednesday, April 10th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Ally Financial in a research report on Wednesday, January 10th. They issued a buy rating and a $47.00 price objective for the company. Four analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $38.47.

Ally Financial Trading Up 1.0 %

Shares of NYSE:ALLY opened at $39.08 on Friday. Ally Financial has a 12-month low of $22.54 and a 12-month high of $41.56. The business’s fifty day simple moving average is $37.71 and its 200-day simple moving average is $32.92. The company has a market capitalization of $11.88 billion, a PE ratio of 15.95, a P/E/G ratio of 0.57 and a beta of 1.40. The company has a current ratio of 0.92, a quick ratio of 0.90 and a debt-to-equity ratio of 1.50.

Ally Financial (NYSE:ALLY) last announced its quarterly earnings results on Thursday, April 18th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.12. Ally Financial had a return on equity of 8.35% and a net margin of 10.59%. The business had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.96 billion. During the same period last year, the business posted $0.82 EPS. The business’s revenue was down 5.4% compared to the same quarter last year. As a group, equities research analysts predict that Ally Financial will post 2.92 earnings per share for the current fiscal year.

Ally Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be issued a $0.30 dividend. The ex-dividend date is Tuesday, April 30th. This represents a $1.20 annualized dividend and a dividend yield of 3.07%. Ally Financial’s dividend payout ratio (DPR) is presently 48.98%.

Hedge Funds Weigh In On Ally Financial

Institutional investors and hedge funds have recently modified their holdings of the stock. Salem Investment Counselors Inc. increased its stake in shares of Ally Financial by 115.0% in the 1st quarter. Salem Investment Counselors Inc. now owns 645 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 345 shares in the last quarter. Rise Advisors LLC purchased a new position in shares of Ally Financial in the 1st quarter valued at about $32,000. Northwest Financial Advisors purchased a new position in shares of Ally Financial in the 4th quarter valued at about $31,000. Quarry LP increased its stake in shares of Ally Financial by 165.7% in the 4th quarter. Quarry LP now owns 959 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 598 shares in the last quarter. Finally, NBC Securities Inc. purchased a new position in shares of Ally Financial in the 3rd quarter valued at about $26,000. 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.