Keefe, Bruyette & Woods Cuts Ally Financial (NYSE:ALLY) Price Target to $51.00

Ally Financial (NYSE:ALLY) had its price objective cut by Keefe, Bruyette & Woods from $56.00 to $51.00 in a research note released on Wednesday,Benzinga reports. They currently have an outperform rating on the financial services provider’s stock.

A number of other brokerages also recently weighed in on ALLY. Royal Bank Of Canada reiterated an “outperform” rating on shares of Ally Financial in a report on Monday, July 14th. Truist Financial raised their price target on shares of Ally Financial from $44.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Citigroup increased their price objective on shares of Ally Financial from $59.00 to $70.00 and gave the company a “buy” rating in a research note on Monday, September 15th. BTIG Research upgraded shares of Ally Financial from a “sell” rating to a “neutral” rating in a research note on Monday, July 14th. Finally, Morgan Stanley lifted their price objective on shares of Ally Financial from $47.00 to $52.00 and gave the company an “overweight” rating in a research note on Monday. Nine investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $45.36.

Ally Financial Stock Up 1.9%

NYSE ALLY opened at $39.58 on Wednesday. The business has a fifty day moving average price of $40.12 and a two-hundred day moving average price of $37.32. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.92 and a quick ratio of 0.92. Ally Financial has a fifty-two week low of $29.52 and a fifty-two week high of $44.83. The stock has a market capitalization of $12.18 billion, a PE ratio of 25.70, a PEG ratio of 0.30 and a beta of 1.18.

Ally Financial (NYSE:ALLY) last released its earnings results on Friday, July 18th. The financial services provider reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.21. The firm had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Ally Financial had a return on equity of 9.48% and a net margin of 7.64%.The company’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.97 earnings per share. Equities analysts expect that Ally Financial will post 3.57 earnings per share for the current fiscal year.

Ally Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 1st were given a $0.30 dividend. The ex-dividend date was Friday, August 1st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.0%. Ally Financial’s payout ratio is presently 77.92%.

Hedge Funds Weigh In On Ally Financial

Hedge funds have recently modified their holdings of the company. WPG Advisers LLC purchased a new position in shares of Ally Financial in the first quarter valued at about $25,000. Copia Wealth Management purchased a new position in shares of Ally Financial during the first quarter valued at about $27,000. SVB Wealth LLC purchased a new position in shares of Ally Financial during the first quarter valued at about $27,000. Allworth Financial LP increased its position in shares of Ally Financial by 385.2% during the second quarter. Allworth Financial LP now owns 752 shares of the financial services provider’s stock valued at $29,000 after buying an additional 597 shares during the period. Finally, Hantz Financial Services Inc. increased its position in shares of Ally Financial by 662.0% during the second quarter. Hantz Financial Services Inc. now owns 823 shares of the financial services provider’s stock valued at $32,000 after buying an additional 715 shares during the period. Hedge funds and other 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.