Wells Fargo & Company Issues Positive Forecast for Ally Financial (NYSE:ALLY) Stock Price

Ally Financial (NYSE:ALLY) had its price target hoisted by Wells Fargo & Company from $32.00 to $34.00 in a report issued on Thursday morning,Benzinga reports. They currently have an underweight rating on the financial services provider’s stock.

Other research analysts have also issued research reports about the stock. Raymond James upgraded shares of Ally Financial from an “underperform” rating to a “market perform” rating in a research note on Monday, October 21st. Evercore ISI dropped their price objective on Ally Financial from $47.00 to $38.00 and set an “in-line” rating on the stock in a research note on Monday, October 7th. Citigroup raised their target price on Ally Financial from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, November 15th. JPMorgan Chase & Co. dropped their price target on shares of Ally Financial from $42.00 to $40.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 14th. Finally, StockNews.com lowered shares of Ally Financial from a “buy” rating to a “hold” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $43.47.

Ally Financial Stock Down 2.7 %

ALLY opened at $39.03 on Thursday. The stock’s 50 day moving average price is $37.06 and its 200 day moving average price is $37.94. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.93 and a quick ratio of 0.92. The stock has a market cap of $11.89 billion, a P/E ratio of 15.01, a P/E/G ratio of 0.42 and a beta of 1.44. Ally Financial has a 12 month low of $31.95 and a 12 month high of $45.46.

Ally Financial (NYSE:ALLY) last posted its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.21. The business had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2,021,808.41 billion. Ally Financial had a net margin of 11.29% and a return on equity of 9.31%. The company’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.45 earnings per share. As a group, research analysts predict that Ally Financial will post 3.91 earnings per share for the current year.

Ally Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be given a $0.30 dividend. The ex-dividend date is Friday, January 31st. This represents a $1.20 dividend on an annualized basis and a yield of 3.07%. Ally Financial’s payout ratio is 46.15%.

Hedge Funds Weigh In On Ally Financial

Several institutional investors and hedge funds have recently modified their holdings of ALLY. Janney Montgomery Scott LLC boosted its position in Ally Financial by 68.8% during the third quarter. Janney Montgomery Scott LLC now owns 68,986 shares of the financial services provider’s stock valued at $2,455,000 after purchasing an additional 28,114 shares during the last quarter. Oak Thistle LLC purchased a new stake in shares of Ally Financial during the 4th quarter worth about $1,112,000. CWA Asset Management Group LLC acquired a new stake in shares of Ally Financial during the 3rd quarter valued at about $1,338,000. Wealth Enhancement Advisory Services LLC grew its stake in shares of Ally Financial by 58.7% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 50,466 shares of the financial services provider’s stock valued at $1,796,000 after buying an additional 18,671 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in Ally Financial in the third quarter worth approximately $21,571,000. 88.76% of the stock is currently 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.