Analysts Set Ally Financial Inc. (ALLY) Target Price at $25.64
Ally Financial Inc. (NYSE:ALLY) has been assigned a consensus recommendation of “Buy” from the nineteen ratings firms that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have issued a buy rating on the company. The average 12 month target price among brokers that have covered the stock in the last year is $25.64.
ALLY has been the topic of several analyst reports. BidaskClub downgraded Ally Financial from a “buy” rating to a “hold” rating in a research note on Sunday, July 23rd. Stephens downgraded Ally Financial from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $23.00 to $20.00 in a research note on Monday, July 17th. TheStreet upgraded Ally Financial from a “c” rating to a “b-” rating in a research note on Wednesday, July 19th. Piper Jaffray Companies restated a “buy” rating on shares of Ally Financial in a research note on Friday, July 28th. Finally, Keefe, Bruyette & Woods restated a “buy” rating and issued a $24.00 price target on shares of Ally Financial in a research note on Tuesday, July 4th.
Shares of Ally Financial (ALLY) traded up 0.58% on Wednesday, reaching $22.50. The company’s stock had a trading volume of 2,210,834 shares. The company has a market capitalization of $10.80 billion, a price-to-earnings ratio of 11.47 and a beta of 1.42. Ally Financial has a 1-year low of $16.68 and a 1-year high of $23.62. The stock has a 50-day moving average price of $22.43 and a 200-day moving average price of $20.82.
Ally Financial (NYSE:ALLY) last announced its earnings results on Thursday, July 27th. The financial services provider reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.05. Ally Financial had a return on equity of 7.55% and a net margin of 13.83%. The company had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same period last year, the business posted $0.54 EPS. On average, equities research analysts forecast that Ally Financial will post $2.27 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Tuesday, August 1st were issued a dividend of $0.12 per share. The ex-dividend date was Friday, July 28th. This is a boost from Ally Financial’s previous quarterly dividend of $0.08. This represents a $0.48 annualized dividend and a yield of 2.13%. Ally Financial’s payout ratio is currently 24.49%.
Ally Financial declared that its Board of Directors has initiated a stock repurchase program on Wednesday, June 28th that permits the company to buyback $760.00 million in shares. This buyback authorization permits the financial services provider to purchase up to 7.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.
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A number of hedge funds have recently modified their holdings of ALLY. Toronto Dominion Bank raised its holdings in shares of Ally Financial by 23.0% in the second quarter. Toronto Dominion Bank now owns 5,714 shares of the financial services provider’s stock worth $119,000 after acquiring an additional 1,070 shares during the last quarter. Creative Planning raised its holdings in shares of Ally Financial by 385.0% in the first quarter. Creative Planning now owns 6,299 shares of the financial services provider’s stock worth $128,000 after acquiring an additional 8,509 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Ally Financial by 668.0% in the first quarter. Tower Research Capital LLC TRC now owns 6,950 shares of the financial services provider’s stock worth $141,000 after acquiring an additional 6,045 shares during the last quarter. First Mercantile Trust Co. raised its holdings in shares of Ally Financial by 27.3% in the first quarter. First Mercantile Trust Co. now owns 9,800 shares of the financial services provider’s stock worth $199,000 after acquiring an additional 2,100 shares during the last quarter. Finally, Capstone Asset Management Co. acquired a new position in shares of Ally Financial in the second quarter worth $208,000.
Ally Financial Company Profile
Ally Financial Inc is a digital financial services company. The Company is a bank and financial holding company. Its segments include Automotive Finance operations, Insurance operations, Mortgage Finance operations, Corporate Finance operations, and Corporate and Other. The Automotive Finance operations segment provides the United States-based automotive financing services to consumers and automotive dealers, and automotive and equipment financing services to companies and municipalities.
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