Ally Financial (NYSE:ALLY) Given New $32.00 Price Target at Wells Fargo & Company

Ally Financial (NYSE:ALLY) had its target price reduced by Wells Fargo & Company from $37.00 to $32.00 in a research note issued to investors on Thursday morning, Benzinga reports. They currently have an underweight rating on the financial services provider’s stock.

Several other analysts have also issued reports on the company. BTIG Research lowered Ally Financial from a buy rating to a neutral rating in a report on Monday, September 16th. Citigroup assumed coverage on Ally Financial in a report on Monday, June 24th. They set a buy rating and a $50.00 target price on the stock. Evercore ISI upped their target price on Ally Financial from $43.00 to $45.00 and gave the stock an in-line rating in a report on Tuesday, June 25th. Bank of America dropped their target price on Ally Financial from $46.00 to $37.00 and set a buy rating on the stock in a report on Wednesday, September 11th. Finally, Royal Bank of Canada lowered their price target on Ally Financial from $49.00 to $40.00 and set an outperform rating on the stock in a research report on Thursday, September 12th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Ally Financial has a consensus rating of Hold and a consensus price target of $41.38.

Ally Financial Stock Performance

Shares of Ally Financial stock opened at $34.97 on Thursday. The firm has a market cap of $10.63 billion, a price-to-earnings ratio of 14.27, a price-to-earnings-growth ratio of 0.37 and a beta of 1.40. The stock’s 50-day moving average is $39.67 and its 200-day moving average is $39.54. Ally Financial has a one year low of $22.54 and a one year high of $45.46. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.92 and a quick ratio of 0.91.

Ally Financial (NYSE:ALLY) last issued its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.33. Ally Financial had a return on equity of 8.37% and a net margin of 10.26%. The company had revenue of $2 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same period in the previous year, the company posted $0.96 earnings per share. The company’s quarterly revenue was down 3.8% compared to the same quarter last year. Equities analysts predict that Ally Financial will post 3.15 earnings per share for the current fiscal year.

Ally Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st were given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.43%. The ex-dividend date was Thursday, August 1st. Ally Financial’s payout ratio is 48.98%.

Institutional Investors Weigh In On Ally Financial

Several institutional investors have recently made changes to their positions in ALLY. Allspring Global Investments Holdings LLC boosted its stake in shares of Ally Financial by 510.7% in the second quarter. Allspring Global Investments Holdings LLC now owns 629 shares of the financial services provider’s stock valued at $25,000 after buying an additional 526 shares during the period. Transcendent Capital Group LLC acquired a new stake in Ally Financial in the first quarter valued at $28,000. Rise Advisors LLC acquired a new stake in Ally Financial in the first quarter valued at $32,000. Quarry LP increased its holdings in Ally Financial by 165.7% in the fourth quarter. Quarry LP now owns 959 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 598 shares during the period. Finally, SYSTM Wealth Solutions LLC grew its holdings in Ally Financial by 571.7% during the 1st quarter. SYSTM Wealth Solutions LLC now owns 927 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 789 shares during the period. 88.76% of the stock is currently 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.