Ally Financial (NYSE:ALLY) Upgraded to “Buy” at Wall Street Zen

Wall Street Zen upgraded shares of Ally Financial (NYSE:ALLY) from a hold rating to a buy rating in a report published on Monday.

ALLY has been the subject of several other research reports. UBS Group set a $48.00 target price on shares of Ally Financial in a report on Monday, January 12th. Truist Financial set a $54.00 target price on shares of Ally Financial in a report on Tuesday, April 21st. Royal Bank Of Canada restated an “outperform” rating and issued a $52.00 target price on shares of Ally Financial in a report on Monday, January 12th. Barclays upped their target price on shares of Ally Financial from $54.00 to $56.00 and gave the company an “equal weight” rating in a report on Monday, April 20th. Finally, Bank of America upped their target price on shares of Ally Financial from $51.00 to $52.00 and gave the company a “buy” rating in a report on Friday, April 10th. Fourteen analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.14.

Ally Financial Trading Down 3.5%

NYSE ALLY opened at $42.68 on Monday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.31. Ally Financial has a 52 week low of $32.50 and a 52 week high of $47.27. The stock has a market capitalization of $13.08 billion, a PE ratio of 10.41, a price-to-earnings-growth ratio of 0.27 and a beta of 1.12. The firm has a 50 day moving average of $40.87 and a two-hundred day moving average of $41.80.

Ally Financial (NYSE:ALLY) last posted its quarterly earnings results on Friday, April 17th. The financial services provider reported $1.11 EPS for the quarter, topping the consensus estimate of $0.93 by $0.18. Ally Financial had a net margin of 16.47% and a return on equity of 11.41%. The company had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.14 billion. During the same quarter in the previous year, the business posted $0.58 EPS. The firm’s revenue was up 36.4% on a year-over-year basis. As a group, research analysts expect that Ally Financial will post 5.3 EPS for the current fiscal year.

Ally Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Friday, May 1st will be given a $0.30 dividend. The ex-dividend date is Friday, May 1st. This represents a $1.20 annualized dividend and a yield of 2.8%. Ally Financial’s dividend payout ratio is 29.27%.

Insider Buying and Selling

In related news, insider Douglas R. Timmerman sold 39,675 shares of the company’s stock in a transaction on Friday, April 17th. The shares were sold at an average price of $45.17, for a total value of $1,792,119.75. Following the completion of the sale, the insider owned 477,627 shares in the company, valued at $21,574,411.59. This represents a 7.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.46% of the stock is currently owned by company insiders.

Institutional Trading of Ally Financial

Institutional investors and hedge funds have recently bought and sold shares of the business. Chung Wu Investment Group LLC increased its holdings in shares of Ally Financial by 224.1% in the 3rd quarter. Chung Wu Investment Group LLC now owns 38,890 shares of the financial services provider’s stock valued at $1,524,000 after purchasing an additional 26,890 shares in the last quarter. NewSquare Capital LLC increased its holdings in shares of Ally Financial by 21,520.9% in the 3rd quarter. NewSquare Capital LLC now owns 27,891 shares of the financial services provider’s stock valued at $1,093,000 after purchasing an additional 27,762 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Ally Financial in the 3rd quarter valued at about $1,194,000. Principal Financial Group Inc. grew its stake in Ally Financial by 7.5% in the 3rd quarter. Principal Financial Group Inc. now owns 674,471 shares of the financial services provider’s stock valued at $26,439,000 after acquiring an additional 47,184 shares during the last quarter. Finally, Prana Capital Management LP increased its holdings in Ally Financial by 177.3% during the 3rd quarter. Prana Capital Management LP now owns 178,762 shares of the financial services provider’s stock valued at $7,007,000 after acquiring an additional 114,305 shares in the last quarter. Hedge funds and other institutional investors own 88.76% of the company’s stock.

About Ally Financial

Ally Financial Inc is a leading digital financial services company headquartered in Detroit, Michigan. The company offers a comprehensive suite of banking, lending, and insurance products designed for retail and commercial customers. Through its online-only platform, Ally Bank provides checking and savings accounts, certificates of deposit, money market accounts, and home mortgages, emphasizing competitive rates and user-friendly mobile and web experiences.

In addition to its banking operations, Ally Financial is a major player in automotive financing and leasing.