Ally Financial (NYSE:ALLY) Rating Increased to Equal Weight at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Ally Financial (NYSE:ALLY) from an underweight rating to an equal weight rating in a report published on Tuesday, MarketBeat reports. They currently have $45.00 price objective on the financial services provider’s stock, up from their previous price objective of $37.00.

Other equities research analysts have also issued research reports about the stock. Morgan Stanley restated an “overweight” rating and set a $47.00 price target (up previously from $39.00) on shares of Ally Financial in a report on Thursday, July 10th. Royal Bank Of Canada restated an “outperform” rating on shares of Ally Financial in a report on Monday, July 14th. Wall Street Zen raised shares of Ally Financial from a “sell” rating to a “hold” rating in a research report on Friday, May 23rd. JPMorgan Chase & Co. boosted their price objective on shares of Ally Financial from $44.00 to $45.00 and gave the company an “overweight” rating in a research report on Monday, July 21st. Finally, Citigroup reaffirmed a “buy” rating and set a $59.00 price objective (up from $55.00) on shares of Ally Financial in a research report on Wednesday, July 2nd. Nine analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, Ally Financial presently has an average rating of “Moderate Buy” and a consensus target price of $43.67.

Ally Financial Stock Down 0.8%

ALLY stock opened at $40.72 on Tuesday. Ally Financial has a 52-week low of $29.52 and a 52-week high of $43.12. The company’s 50 day simple moving average is $39.26 and its 200-day simple moving average is $36.42. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.92 and a quick ratio of 0.92. The firm has a market capitalization of $12.53 billion, a P/E ratio of 26.44, a P/E/G ratio of 0.32 and a beta of 1.14.

Ally Financial (NYSE:ALLY) last released its quarterly earnings results on Friday, July 18th. The financial services provider reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.21. Ally Financial had a net margin of 7.64% and a return on equity of 9.48%. The business had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the previous year, the business earned $0.97 earnings per share. The firm’s revenue was up 3.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Ally Financial will post 3.57 EPS for the current year.

Ally Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 1st were given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Friday, August 1st. Ally Financial’s payout ratio is currently 77.92%.

Institutional Trading of Ally Financial

Several large investors have recently added to or reduced their stakes in the business. Fulton Bank N.A. grew its position in Ally Financial by 1.3% in the second quarter. Fulton Bank N.A. now owns 19,888 shares of the financial services provider’s stock worth $775,000 after acquiring an additional 260 shares in the last quarter. Tidal Investments LLC grew its position in Ally Financial by 1.1% in the fourth quarter. Tidal Investments LLC now owns 26,279 shares of the financial services provider’s stock worth $946,000 after acquiring an additional 280 shares in the last quarter. EP Wealth Advisors LLC grew its position in Ally Financial by 4.9% in the fourth quarter. EP Wealth Advisors LLC now owns 6,367 shares of the financial services provider’s stock worth $229,000 after acquiring an additional 297 shares in the last quarter. Integrated Wealth Concepts LLC grew its position in Ally Financial by 0.7% in the first quarter. Integrated Wealth Concepts LLC now owns 40,363 shares of the financial services provider’s stock worth $1,472,000 after acquiring an additional 300 shares in the last quarter. Finally, MAI Capital Management boosted its holdings in shares of Ally Financial by 45.1% during the 2nd quarter. MAI Capital Management now owns 975 shares of the financial services provider’s stock worth $38,000 after buying an additional 303 shares during the period. 88.76% of the stock is owned by 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.