Wells Fargo & Company Trims Ally Financial (NYSE:ALLY) Target Price to $32.00

Ally Financial (NYSE:ALLY) had its price objective decreased by Wells Fargo & Company from $37.00 to $32.00 in a research report released on Thursday morning, Benzinga reports. Wells Fargo & Company currently has an underweight rating on the financial services provider’s stock.

Several other research analysts have also issued reports on the stock. Barclays decreased 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 research report on Thursday, September 12th. Deutsche Bank Aktiengesellschaft reduced their price target on Ally Financial from $51.00 to $50.00 and set a buy rating for the company in a research report on Monday, July 1st. TD Cowen cut their target price on shares of Ally Financial from $45.00 to $37.00 and set a hold rating for the company in a research note on Monday, September 23rd. JPMorgan Chase & Co. raised Ally Financial from an underweight rating to a neutral rating and increased their target price for the stock from $39.00 to $45.00 in a report on Monday, July 8th. Finally, Royal Bank of Canada dropped their price target on Ally Financial from $49.00 to $40.00 and set an outperform rating for the company in a report on Thursday, September 12th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Ally Financial presently has a consensus rating of Hold and a consensus target price of $40.76.

Ally Financial Price Performance

ALLY opened at $34.97 on Thursday. The company has a market cap of $10.63 billion, a P/E ratio of 14.27, a P/E/G ratio of 0.37 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 has a 52-week low of $22.54 and a 52-week high of $45.46. The company has a 50 day moving average of $39.67 and a two-hundred day moving average of $39.53.

Ally Financial (NYSE:ALLY) last issued its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.97 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter last year, the company posted $0.96 earnings per share. The company’s quarterly revenue was down 3.8% compared to the same quarter last year. On average, analysts expect that Ally Financial will post 3.15 earnings per share for the current year.

Ally Financial Announces Dividend

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

Hedge Funds Weigh In On Ally Financial

Hedge funds have recently made changes to their positions in the business. PNC Financial Services Group Inc. increased its holdings in shares of Ally Financial by 17.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 27,613 shares of the financial services provider’s stock worth $964,000 after acquiring an additional 4,021 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in shares of Ally Financial by 3.7% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 132,001 shares of the financial services provider’s stock valued at $4,609,000 after purchasing an additional 4,768 shares in the last quarter. United Services Automobile Association boosted its holdings in shares of Ally Financial by 17.6% during the 4th quarter. United Services Automobile Association now owns 20,579 shares of the financial services provider’s stock valued at $719,000 after acquiring an additional 3,083 shares in the last quarter. TD Asset Management Inc boosted its position in Ally Financial by 28.5% during the 4th quarter. TD Asset Management Inc now owns 49,093 shares of the financial services provider’s stock worth $1,714,000 after buying an additional 10,895 shares during the period. Finally, Allianz Asset Management GmbH lifted its holdings in Ally Financial by 18.7% during the 4th quarter. Allianz Asset Management GmbH now owns 1,662,075 shares of the financial services provider’s stock worth $58,040,000 after buying an additional 261,897 shares during the period. 88.76% of the stock is owned by 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.