Ally Financial (NYSE:ALLY) Upgraded to “Buy” at Bank of America

by · The Markets Daily

Bank of America upgraded shares of Ally Financial (NYSE:ALLY – Free Report) from a neutral rating to a buy rating in a report released on Tuesday morning, MarketBeat Ratings reports. Bank of America currently has $46.00 target price on the financial services provider’s stock, up from their previous target price of $42.00.

A number of other equities research analysts have also recently commented on the company. Barclays raised their price target on Ally Financial from $32.00 to $43.00 and gave the company an equal weight rating in a report on Tuesday, January 2nd. BMO Capital Markets boosted their price target on Ally Financial from $36.00 to $37.00 and gave the stock a market perform rating in a report on Tuesday, January 23rd. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Ally Financial in a report on Wednesday, January 10th. They set a buy rating and a $47.00 price objective for the company. Royal Bank of Canada reissued an outperform rating and issued a $40.00 target price on shares of Ally Financial in a report on Monday, January 22nd. Finally, JPMorgan Chase & Co. cut shares of Ally Financial from a neutral rating to an underweight rating and raised their target price for the company from $37.00 to $39.00 in a research note on Wednesday, April 3rd. Five research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Hold and a consensus target price of $37.59.

Check Out Our Latest Stock Report on ALLY

Ally Financial Trading Down 2.1 %

Shares of NYSE:ALLY opened at $37.22 on Tuesday. The stock has a 50 day moving average of $37.57 and a 200 day moving average of $32.53. The company has a market cap of $11.31 billion, a PE ratio of 12.45, a price-to-earnings-growth ratio of 0.55 and a beta of 1.40. Ally Financial has a 12-month low of $22.54 and a 12-month high of $41.56. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.54.

Ally Financial (NYSE:ALLY – Get Free Report) last posted its quarterly earnings results on Friday, January 19th. The financial services provider reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.01. The business had revenue of $2.07 billion during the quarter, compared to analyst estimates of $1.99 billion. Ally Financial had a net margin of 12.42% and a return on equity of 9.41%. During the same period in the prior year, the business posted $1.08 earnings per share. As a group, equities research analysts expect that Ally Financial will post 2.96 EPS for the current year.

Ally Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Thursday, February 1st were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.22%. The ex-dividend date of this dividend was Wednesday, January 31st. Ally Financial’s dividend payout ratio is 40.13%.

Institutional Trading of Ally Financial

Hedge funds have recently added to or reduced their stakes in the business. Banque Cantonale Vaudoise raised its holdings in shares of Ally Financial by 309.5% in the 1st quarter. Banque Cantonale Vaudoise now owns 99,315 shares of the financial services provider’s stock valued at $4,031,000 after purchasing an additional 75,063 shares in the last quarter. Polianta Ltd purchased a new position in Ally Financial during the first quarter valued at approximately $1,164,000. Rise Advisors LLC bought a new position in Ally Financial in the first quarter worth approximately $32,000. Los Angeles Capital Management LLC lifted its holdings in Ally Financial by 345.3% during the first quarter. Los Angeles Capital Management LLC now owns 257,519 shares of the financial services provider’s stock worth $10,453,000 after buying an additional 199,687 shares during the period. Finally, Trust Co. of Toledo NA OH lifted its holdings in Ally Financial by 1.7% during the first quarter. Trust Co. of Toledo NA OH now owns 17,622 shares of the financial services provider’s stock worth $715,000 after buying an additional 287 shares during the period. 88.76% of the stock is owned by hedge funds and other institutional investors.

About Ally Financial

(Get Free Report)

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.

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