Royal Bank of Canada Issues Positive Forecast for Ally Financial (NYSE:ALLY) Stock Price

Ally Financial (NYSE:ALLY) had its price target increased by Royal Bank of Canada from $41.00 to $45.00 in a research note published on Thursday,Benzinga reports. The brokerage currently has an outperform rating on the financial services provider’s stock.

A number of other equities research analysts have also recently weighed in on the company. Truist Financial initiated coverage on Ally Financial in a research note on Tuesday, January 7th. They set a “buy” rating and a $42.00 price objective for the company. Wells Fargo & Company boosted their price objective on shares of Ally Financial from $32.00 to $34.00 and gave the stock an “underweight” rating in a research note on Thursday. Raymond James raised shares of Ally Financial from an “underperform” rating to a “market perform” rating in a research report on Monday, October 21st. JPMorgan Chase & Co. upped their price target on Ally Financial from $40.00 to $43.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Jefferies Financial Group increased their price objective on Ally Financial from $35.00 to $40.00 and gave the company a “hold” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $43.47.

Ally Financial Price Performance

Shares of ALLY stock opened at $40.12 on Thursday. Ally Financial has a twelve month low of $31.95 and a twelve month high of $45.46. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.36. The stock has a fifty day simple moving average of $36.92 and a two-hundred day simple moving average of $37.93. The stock has a market capitalization of $12.22 billion, a price-to-earnings ratio of 16.05, a P/E/G ratio of 0.40 and a beta of 1.44.

Ally Financial (NYSE:ALLY) last issued its earnings results on Wednesday, January 22nd. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.21. Ally Financial had a net margin of 10.84% and a return on equity of 8.39%. The company had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2,021,808.41 billion. During the same period in the prior year, the business earned $0.45 EPS. The firm’s quarterly revenue was up 3.6% on a year-over-year basis. On average, analysts predict that Ally Financial will post 2.96 EPS for the current fiscal year.

Ally Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be issued a dividend of $0.30 per share. The ex-dividend date is Friday, January 31st. This represents a $1.20 annualized dividend and a dividend yield of 2.99%. Ally Financial’s dividend payout ratio (DPR) is presently 48.00%.

Institutional Investors Weigh In On Ally Financial

Hedge funds have recently added to or reduced their stakes in the business. Venturi Wealth Management LLC boosted its stake in shares of Ally Financial by 153.9% in the third quarter. Venturi Wealth Management LLC now owns 952 shares of the financial services provider’s stock worth $34,000 after buying an additional 577 shares during the last quarter. Allworth Financial LP grew its stake in shares of Ally Financial by 41.9% during the 3rd quarter. Allworth Financial LP now owns 1,426 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 421 shares during the period. Quarry LP increased its holdings in shares of Ally Financial by 311.4% during the 2nd quarter. Quarry LP now owns 1,510 shares of the financial services provider’s stock valued at $60,000 after purchasing an additional 1,143 shares in the last quarter. UMB Bank n.a. lifted its stake in shares of Ally Financial by 218.8% in the 4th quarter. UMB Bank n.a. now owns 1,546 shares of the financial services provider’s stock valued at $56,000 after purchasing an additional 1,061 shares during the period. Finally, Brooklyn Investment Group acquired a new stake in Ally Financial during the third quarter valued at $63,000. 88.76% of the stock is owned by hedge funds and other institutional investors.

About Ally Financial

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.