Ally Financial (NYSE:ALLY) Stock Price Expected to Rise, TD Cowen Analyst Says

Ally Financial (NYSE:ALLY) had its target price upped by analysts at TD Cowen from $50.00 to $55.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. TD Cowen’s price target points to a potential upside of 18.28% from the stock’s previous close.

ALLY has been the topic of several other reports. Barclays increased their price target on shares of Ally Financial from $44.00 to $54.00 and gave the company an “equal weight” rating in a research report on Monday. Keefe, Bruyette & Woods dropped their price target on Ally Financial from $56.00 to $51.00 and set an “outperform” rating for the company in a research report on Wednesday, October 1st. Weiss Ratings reissued a “hold (c+)” rating on shares of Ally Financial in a report on Monday, December 29th. Truist Financial increased their price objective on Ally Financial from $47.00 to $51.00 and gave the company a “buy” rating in a research note on Monday, December 22nd. Finally, Wall Street Zen downgraded Ally Financial from a “buy” rating to a “hold” rating in a research report on Sunday, November 9th. Thirteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Ally Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.88.

Ally Financial Price Performance

Shares of NYSE:ALLY traded down $0.05 during trading on Thursday, hitting $46.50. 1,291,573 shares of the stock were exchanged, compared to its average volume of 2,400,039. The company has a market cap of $14.32 billion, a PE ratio of 28.02, a P/E/G ratio of 0.23 and a beta of 1.17. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.31. The company has a fifty day moving average price of $42.41 and a two-hundred day moving average price of $40.79. Ally Financial has a 12-month low of $29.52 and a 12-month high of $47.27.

Ally Financial (NYSE:ALLY) last issued its quarterly earnings data on Monday, July 28th. The financial services provider reported $0.99 earnings per share (EPS) for the quarter. The firm had revenue of $2.06 billion during the quarter. Ally Financial had a return on equity of 9.96% and a net margin of 8.10%. On average, analysts forecast that Ally Financial will post 3.57 EPS for the current year.

Ally Financial declared that its board has approved a stock repurchase plan on Wednesday, December 10th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 15.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Ally Financial

In other news, insider Kathleen L. Patterson sold 29,000 shares of the company’s stock in a transaction dated Wednesday, October 22nd. The stock was sold at an average price of $40.86, for a total value of $1,184,940.00. Following the completion of the sale, the insider owned 100,203 shares of the company’s stock, valued at $4,094,294.58. This represents a 22.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.67% of the stock is owned by insiders.

Hedge Funds Weigh In On Ally Financial

Institutional investors and hedge funds have recently bought and sold shares of the stock. Allworth Financial LP increased its stake in Ally Financial by 385.2% during the 2nd quarter. Allworth Financial LP now owns 752 shares of the financial services provider’s stock worth $29,000 after buying an additional 597 shares during the period. Mather Group LLC. bought a new position in shares of Ally Financial during the third quarter valued at approximately $31,000. Hantz Financial Services Inc. increased its position in Ally Financial by 662.0% in the second quarter. Hantz Financial Services Inc. now owns 823 shares of the financial services provider’s stock worth $32,000 after buying an additional 715 shares during the period. Westside Investment Management Inc. boosted its stake in Ally Financial by 116.8% during the 2nd quarter. Westside Investment Management Inc. now owns 837 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 451 shares during the period. Finally, MAI Capital Management grew its position in Ally Financial by 45.1% in the 2nd quarter. MAI Capital Management now owns 975 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 303 shares during the last quarter. Hedge funds and other institutional investors own 88.76% of the company’s stock.

About Ally Financial

Ally Financial Inc is a leading digital financial services company headquartered in Detroit, Michigan. The company offers a comprehensive suite of banking, lending, and insurance products designed for retail and commercial customers. Through its online-only platform, Ally Bank provides checking and savings accounts, certificates of deposit, money market accounts, and home mortgages, emphasizing competitive rates and user-friendly mobile and web experiences.

In addition to its banking operations, Ally Financial is a major player in automotive financing and leasing.