Ally Financial (NYSE:ALLY) Upgraded by TD Cowen to “Buy” Rating

TD Cowen upgraded shares of Ally Financial (NYSE:ALLY) from a hold rating to a buy rating in a research report released on Monday, MarketBeat Ratings reports. TD Cowen currently has $50.00 price target on the financial services provider’s stock, up from their previous price target of $43.00.

Several other research analysts also recently commented on the company. Evercore ISI cut their target price on Ally Financial from $45.00 to $44.00 and set an “in-line” rating on the stock in a report on Tuesday, September 30th. JPMorgan Chase & Co. cut their target price on Ally Financial from $45.00 to $42.00 and set an “overweight” rating on the stock in a report on Tuesday, October 7th. Weiss Ratings reissued a “hold (c+)” rating on shares of Ally Financial in a research report on Tuesday, October 14th. BTIG Research raised Ally Financial from a “sell” rating to a “neutral” rating in a research report on Monday, July 14th. Finally, Keefe, Bruyette & Woods lowered their price objective on Ally Financial from $56.00 to $51.00 and set an “outperform” rating for the company in a research report on Wednesday, October 1st. Eleven analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, Ally Financial has an average rating of “Moderate Buy” and an average target price of $45.67.

Ally Financial Trading Up 1.7%

NYSE ALLY opened at $40.49 on Monday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.31. Ally Financial has a twelve month low of $29.52 and a twelve month high of $44.83. The company has a market cap of $12.46 billion, a price-to-earnings ratio of 24.39, a price-to-earnings-growth ratio of 0.30 and a beta of 1.18. The business’s fifty day moving average is $40.46 and its 200 day moving average is $37.57.

Ally Financial (NYSE:ALLY) last announced its earnings results on Monday, July 28th. The financial services provider reported $0.99 EPS for the quarter. The firm had revenue of $2.06 billion for the quarter. Ally Financial had a return on equity of 9.96% and a net margin of 8.10%. As a group, sell-side analysts expect that Ally Financial will post 3.57 EPS for the current fiscal year.

Ally Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Friday, October 31st. Ally Financial’s payout ratio is presently 72.29%.

Institutional Trading of Ally Financial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Merit Financial Group LLC increased its holdings in Ally Financial by 28.5% during the 3rd quarter. Merit Financial Group LLC now owns 11,711 shares of the financial services provider’s stock worth $459,000 after purchasing an additional 2,596 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Ally Financial during the 3rd quarter worth approximately $839,000. Diversified Trust Co increased its holdings in Ally Financial by 221.7% during the 3rd quarter. Diversified Trust Co now owns 74,482 shares of the financial services provider’s stock worth $2,920,000 after purchasing an additional 51,331 shares in the last quarter. Blue Trust Inc. increased its holdings in Ally Financial by 11.9% during the 3rd quarter. Blue Trust Inc. now owns 3,572 shares of the financial services provider’s stock worth $140,000 after purchasing an additional 381 shares in the last quarter. Finally, CWM LLC increased its holdings in Ally Financial by 17.9% during the 3rd quarter. CWM LLC now owns 7,513 shares of the financial services provider’s stock worth $295,000 after purchasing an additional 1,143 shares in the last quarter. 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.