Bank of America Issues Pessimistic Forecast for Ally Financial (NYSE:ALLY) Stock Price

Ally Financial (NYSE:ALLY) had its price target lowered by Bank of America from $42.00 to $38.00 in a report issued on Monday,Benzinga reports. The firm currently has a buy rating on the financial services provider’s stock.

A number of other research analysts have also weighed in on ALLY. Wells Fargo & Company raised their price target on shares of Ally Financial from $32.00 to $34.00 and gave the company an “underweight” rating in a research note on Thursday, January 23rd. Truist Financial decreased their target price on Ally Financial from $47.00 to $45.00 and set a “buy” rating on the stock in a research report on Friday. Compass Point upgraded Ally Financial from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $37.00 to $41.00 in a research report on Monday. Morgan Stanley raised their price objective on Ally Financial from $41.00 to $45.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. Finally, BTIG Research lowered shares of Ally Financial from a “neutral” rating to a “sell” rating and set a $30.00 target price for the company. in a report on Tuesday, March 25th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $42.82.

Ally Financial Trading Down 2.4 %

Shares of ALLY stock opened at $31.34 on Monday. Ally Financial has a 1-year low of $30.06 and a 1-year high of $45.46. The company has a market cap of $9.62 billion, a price-to-earnings ratio of 12.05, a PEG ratio of 0.32 and a beta of 1.12. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.93 and a quick ratio of 0.93. The stock has a 50 day simple moving average of $36.57 and a 200-day simple moving average of $36.41.

Ally Financial (NYSE:ALLY) last posted its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.21. Ally Financial had a net margin of 11.29% and a return on equity of 9.31%. The company had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.02 billion. During the same period in the prior year, the business posted $0.45 earnings per share. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. On average, equities research analysts expect that Ally Financial will post 3.57 EPS for the current fiscal year.

Ally Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were given a $0.30 dividend. The ex-dividend date was Friday, January 31st. This represents a $1.20 dividend on an annualized basis and a yield of 3.83%. Ally Financial’s dividend payout ratio is currently 46.15%.

Insider Activity

In related news, CEO Michael George Rhodes bought 25,634 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The stock was purchased at an average price of $39.09 per share, for a total transaction of $1,002,033.06. Following the acquisition, the chief executive officer now owns 25,634 shares of the company’s stock, valued at approximately $1,002,033.06. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Russell E. Hutchinson bought 19,100 shares of the business’s stock in a transaction on Friday, January 24th. The stock was purchased at an average cost of $39.45 per share, for a total transaction of $753,495.00. Following the transaction, the chief financial officer now owns 202,845 shares of the company’s stock, valued at $8,002,235.25. This trade represents a 10.39 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.67% of the company’s stock.

Institutional Investors Weigh In On Ally Financial

A number of institutional investors have recently modified their holdings of ALLY. Tidal Investments LLC lifted its stake in Ally Financial by 1.1% during the 4th 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 lifted its position in shares of Ally Financial by 4.9% during the fourth quarter. EP Wealth Advisors LLC now owns 6,367 shares of the financial services provider’s stock worth $229,000 after purchasing an additional 297 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its position in shares of Ally Financial by 2.1% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 15,332 shares of the financial services provider’s stock worth $552,000 after purchasing an additional 320 shares in the last quarter. Lido Advisors LLC boosted its stake in shares of Ally Financial by 5.9% in the fourth quarter. Lido Advisors LLC now owns 6,455 shares of the financial services provider’s stock valued at $232,000 after purchasing an additional 359 shares during the period. Finally, Waterfront Wealth Inc. grew its holdings in shares of Ally Financial by 0.8% in the fourth quarter. Waterfront Wealth Inc. now owns 50,924 shares of the financial services provider’s stock valued at $1,834,000 after purchasing an additional 389 shares in the last quarter. 88.76% of the stock is owned by institutional investors and hedge funds.

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.