Ally Financial (NYSE:ALLY) Upgraded to “Strong-Buy” at Raymond James Financial

Raymond James Financial upgraded shares of Ally Financial (NYSE:ALLY) to a strong-buy rating in a report published on Tuesday,Zacks reports.

ALLY has been the topic of a number of other reports. Wall Street Zen downgraded shares of Ally Financial from a “buy” rating to a “hold” rating in a report on Monday, June 8th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $58.00 price target on shares of Ally Financial in a research report on Wednesday, July 22nd. Bank of America increased their price objective on shares of Ally Financial from $52.00 to $53.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. Wells Fargo & Company upped their target price on Ally Financial from $52.00 to $55.00 and gave the company an “overweight” rating in a report on Friday, June 26th. Finally, Citigroup dropped their price target on Ally Financial from $70.00 to $58.00 and set a “buy” rating on the stock in a report on Tuesday, June 23rd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Ally Financial currently has an average rating of “Moderate Buy” and an average target price of $53.73.

Ally Financial Stock Performance

Shares of Ally Financial stock opened at $42.69 on Tuesday. Ally Financial has a 52 week low of $35.92 and a 52 week high of $47.29. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.26. The business has a 50 day moving average price of $44.32 and a 200-day moving average price of $42.65. The company has a market cap of $12.99 billion, a PE ratio of 10.07, a price-to-earnings-growth ratio of 0.26 and a beta of 1.09.

Ally Financial (NYSE:ALLY) last announced its earnings results on Tuesday, July 21st. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.22 by ($0.01). Ally Financial had a net margin of 16.75% and a return on equity of 11.75%. The company had revenue of $2.28 billion for the quarter, compared to analysts’ expectations of $2.22 billion. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.99 EPS. Equities analysts anticipate that Ally Financial will post 5.19 earnings per share for the current fiscal year.

Ally Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were paid a $0.30 dividend. The ex-dividend date was Friday, July 31st. This represents a $1.20 annualized dividend and a dividend yield of 2.8%. Ally Financial’s dividend payout ratio (DPR) is presently 28.30%.

Insider Activity

In related news, insider Stephanie N. Richard sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $44.23, for a total transaction of $221,150.00. Following the sale, the insider directly owned 88,927 shares in the company, valued at approximately $3,933,241.21. This represents a 5.32% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.46% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ALLY. Royal Bank of Canada lifted its holdings in shares of Ally Financial by 106.5% during the 1st quarter. Royal Bank of Canada now owns 251,123 shares of the financial services provider’s stock worth $9,158,000 after acquiring an additional 129,497 shares during the last quarter. NewEdge Advisors LLC raised its holdings in Ally Financial by 22.8% during the 1st quarter. NewEdge Advisors LLC now owns 2,235 shares of the financial services provider’s stock valued at $82,000 after buying an additional 415 shares during the last quarter. Empowered Funds LLC raised its stake in shares of Ally Financial by 11.1% during the first quarter. Empowered Funds LLC now owns 12,900 shares of the financial services provider’s stock valued at $470,000 after acquiring an additional 1,292 shares during the last quarter. Focus Partners Wealth purchased a new stake in Ally Financial in the 1st quarter worth approximately $259,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in Ally Financial by 374.9% in the second quarter. EverSource Wealth Advisors LLC now owns 1,477 shares of the financial services provider’s stock valued at $58,000 after acquiring an additional 1,166 shares in the last quarter. 88.76% of the stock is owned by institutional investors.

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.