Ally Financial (NYSE:ALLY) Given New $35.00 Price Target at Barclays

Ally Financial (NYSE:ALLYGet Rating) had its price objective hoisted by Barclays from $33.00 to $35.00 in a report issued on Monday morning, Benzinga reports. Barclays currently has an equal weight rating on the financial services provider’s stock.

A number of other equities analysts have also weighed in on ALLY. Credit Suisse Group reduced their price objective on Ally Financial from $44.00 to $38.00 and set an outperform rating for the company in a research note on Thursday, October 20th. Morgan Stanley raised their price target on shares of Ally Financial from $19.00 to $22.00 and gave the company an underweight rating in a research report on Monday. StockNews.com downgraded shares of Ally Financial from a hold rating to a sell rating in a research report on Monday, December 5th. JPMorgan Chase & Co. raised their target price on Ally Financial from $27.00 to $30.00 and gave the company a neutral rating in a research report on Monday. Finally, Stephens reduced their price target on Ally Financial from $39.00 to $26.00 and set an equal weight rating for the company in a report on Thursday, October 20th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Ally Financial has a consensus rating of Hold and an average price target of $35.08.

Ally Financial Price Performance

Shares of ALLY stock opened at $32.30 on Monday. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.87 and a current ratio of 0.88. Ally Financial has a fifty-two week low of $22.34 and a fifty-two week high of $51.05. The firm has a market capitalization of $9.65 billion, a price-to-earnings ratio of 6.50 and a beta of 1.27. The stock’s 50-day simple moving average is $25.82 and its 200-day simple moving average is $29.41.

Ally Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 15th. Stockholders of record on Wednesday, February 1st will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.72%. The ex-dividend date is Tuesday, January 31st. Ally Financial’s dividend payout ratio is currently 24.14%.

Institutional Investors Weigh In On Ally Financial

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Private Trust Co. NA grew its holdings in Ally Financial by 99.8% in the 3rd quarter. Private Trust Co. NA now owns 891 shares of the financial services provider’s stock valued at $25,000 after buying an additional 445 shares in the last quarter. Syverson Strege & Co purchased a new stake in shares of Ally Financial in the second quarter valued at about $26,000. Denali Advisors LLC acquired a new stake in Ally Financial during the third quarter worth about $28,000. Salem Investment Counselors Inc. raised its stake in Ally Financial by 115.0% during the first quarter. Salem Investment Counselors Inc. now owns 645 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 345 shares during the period. Finally, Tobam acquired a new position in Ally Financial in the 2nd quarter valued at about $32,000. Institutional investors and hedge funds own 90.35% of the company’s stock.

Ally Financial Company Profile

(Get Rating)

Ally Financial, Inc is a holding company, which provides digital financial services to consumers, businesses, automotive dealers, and corporate clients. It operates through the following segments: Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations.

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