Keefe, Bruyette & Woods Cuts Ally Financial (NYSE:ALLY) Price Target to $44.00

Ally Financial (NYSE:ALLY) had its price target reduced by Keefe, Bruyette & Woods from $50.00 to $44.00 in a research report sent to investors on Monday, Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the financial services provider’s stock.

Several other equities analysts also recently commented on ALLY. Barclays cut their price target on shares of Ally Financial from $44.00 to $36.00 and set an equal weight rating on the stock in a report on Thursday, September 12th. Royal Bank of Canada decreased their price objective on Ally Financial from $49.00 to $40.00 and set an outperform rating for the company in a report on Thursday, September 12th. JPMorgan Chase & Co. upgraded Ally Financial from an underweight rating to a neutral rating and upped their target price for the stock from $39.00 to $45.00 in a report on Monday, July 8th. Morgan Stanley decreased their price target on shares of Ally Financial from $49.00 to $45.00 and set an overweight rating for the company in a research report on Wednesday, September 11th. Finally, BTIG Research cut Ally Financial from a buy rating to a neutral rating in a research report on Monday. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Hold and a consensus price target of $41.41.

Ally Financial Stock Up 2.7 %

ALLY opened at $34.96 on Monday. The firm has a 50-day simple moving average of $40.71 and a two-hundred day simple moving average of $39.63. Ally Financial has a 52 week low of $22.54 and a 52 week high of $45.46. The company has a market capitalization of $10.63 billion, a PE ratio of 14.27, a price-to-earnings-growth ratio of 0.32 and a beta of 1.40. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 1.39.

Ally Financial (NYSE:ALLY) last issued its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.33. Ally Financial had a net margin of 10.26% and a return on equity of 8.37%. The business had revenue of $2 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same period last year, the company posted $0.96 EPS. The business’s revenue was down 3.8% on a year-over-year basis. Analysts forecast that Ally Financial will post 3.51 earnings per share for the current fiscal year.

Ally Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 1st were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.43%. The ex-dividend date of this dividend was Thursday, August 1st. Ally Financial’s dividend payout ratio (DPR) is 48.98%.

Institutional Trading of Ally Financial

A number of hedge funds have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC raised its position in shares of Ally Financial by 510.7% in the second quarter. Allspring Global Investments Holdings LLC now owns 629 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 526 shares during the period. Transcendent Capital Group LLC purchased a new position in shares of Ally Financial in the 1st quarter valued at about $28,000. Rise Advisors LLC acquired a new position in Ally Financial in the 1st quarter worth about $32,000. SYSTM Wealth Solutions LLC boosted its position in Ally Financial by 571.7% during the first quarter. SYSTM Wealth Solutions LLC now owns 927 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 789 shares in the last quarter. Finally, Quarry LP grew its holdings in Ally Financial by 165.7% in the fourth quarter. Quarry LP now owns 959 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 598 shares during the period. 88.76% of the stock is owned by hedge funds and other institutional investors.

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.