Ally Financial (NYSE:ALLY) Now Covered by StockNews.com

StockNews.com started coverage on shares of Ally Financial (NYSE:ALLY – Get Rating) in a research note issued on Thursday. The firm set a “hold” rating on the financial services provider’s stock.

Several other brokerages have also recently issued reports on ALLY. Jefferies Financial Group cut Ally Financial from a “buy” rating to a “hold” rating and dropped their target price for the stock from $40.00 to $25.00 in a research report on Tuesday, January 10th. Citigroup boosted their target price on shares of Ally Financial from $34.00 to $45.00 in a research report on Sunday, January 22nd. Bank of America cut shares of Ally Financial from a “buy” rating to an “underperform” rating and dropped their price target for the stock from $35.00 to $26.00 in a research note on Thursday, January 5th. Piper Sandler upgraded Ally Financial from an “underweight” rating to a “neutral” rating and upped their price objective for the stock from $25.00 to $28.00 in a research note on Monday, January 9th. Finally, Wells Fargo & Company lowered their target price on Ally Financial from $22.00 to $20.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 3rd. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Ally Financial currently has a consensus rating of “Hold” and a consensus target price of $35.24.

Ally Financial Stock Performance

Shares of ALLY stock opened at $23.53 on Thursday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.69. The company has a 50 day moving average price of $29.88 and a 200-day moving average price of $28.58. Ally Financial has a 52 week low of $21.58 and a 52 week high of $45.65. The firm has a market capitalization of $7.08 billion, a PE ratio of 4.73 and a beta of 1.37.

Ally Financial (NYSE:ALLY – Get Rating) last posted its earnings results on Friday, January 20th. The financial services provider reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.10. The business had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.04 billion. Ally Financial had a net margin of 20.34% and a return on equity of 17.98%. As a group, equities research analysts expect that Ally Financial will post 3.65 earnings per share for the current year.

Institutional Trading of Ally Financial

A number of large investors have recently made changes to their positions in the business. Private Trust Co. NA boosted its stake in Ally Financial by 99.8% during the third quarter. Private Trust Co. NA now owns 891 shares of the financial services provider’s stock worth $25,000 after buying an additional 445 shares during the period. Syverson Strege & Co bought a new stake in Ally Financial in the second quarter worth about $26,000. Denali Advisors LLC purchased a new position in shares of Ally Financial during the third quarter valued at approximately $28,000. U.S. Capital Wealth Advisors LLC bought a new position in shares of Ally Financial during the fourth quarter valued at approximately $28,000. Finally, Salem Investment Counselors Inc. raised its holdings in shares of Ally Financial by 115.0% in the first quarter. Salem Investment Counselors Inc. now owns 645 shares of the financial services provider’s stock worth $28,000 after buying an additional 345 shares during the period. 90.35% of the stock is currently owned by institutional investors.

About Ally Financial

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Ally Financial, Inc engages in the provision of online banking, securities brokerage, and investment advisory services. It operates through the following segments: Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, Corporate Finance Operations, and Corporate and Other. The Automotive Finance Operations segment offers retail installment sales contracts, loans, and operating leases, offering term loans to dealers, financing dealer floor plans and other lines of credit to dealers, warehouse lines to automotive retailers, fleet financing, providing financing to companies and municipalities for the purchase or lease of vehicles, and vehicle-remarketing services.