Ally Financial (NYSE:ALLY) Given New $55.00 Price Target at Citigroup

Ally Financial (NYSE:ALLY) had its price objective hoisted by Citigroup from $50.00 to $55.00 in a research report released on Friday morning,Benzinga reports. Citigroup currently has a buy rating on the financial services provider’s stock.

A number of other analysts also recently commented on ALLY. Raymond James upgraded Ally Financial from an “underperform” rating to a “market perform” rating in a report on Monday, October 21st. StockNews.com upgraded Ally Financial from a “sell” rating to a “hold” rating in a research note on Saturday, October 19th. Wells Fargo & Company reduced their price objective on Ally Financial from $37.00 to $32.00 and set an “underweight” rating on the stock in a research note on Thursday, September 26th. Keefe, Bruyette & Woods dropped their target price on shares of Ally Financial from $50.00 to $44.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. Finally, Bank of America reduced their price target on shares of Ally Financial from $46.00 to $37.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. One analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $40.69.

Ally Financial Stock Performance

NYSE ALLY opened at $35.70 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.36. The company has a market capitalization of $10.88 billion, a PE ratio of 14.34, a price-to-earnings-growth ratio of 0.43 and a beta of 1.40. The business’s 50-day moving average price is $35.14 and its 200 day moving average price is $38.75. Ally Financial has a twelve month low of $26.50 and a twelve month high of $45.46.

Ally Financial (NYSE:ALLY) last released its earnings results on Friday, October 18th. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.38. Ally Financial had a net margin of 10.84% and a return on equity of 8.39%. The business had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.03 billion. During the same period last year, the company earned $0.83 earnings per share. The company’s quarterly revenue was up 6.9% on a year-over-year basis. On average, research analysts predict that Ally Financial will post 3 earnings per share for the current year.

Ally Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 1st were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date was Friday, November 1st. Ally Financial’s dividend payout ratio is presently 48.00%.

Institutional Trading of Ally Financial

Several institutional investors have recently added to or reduced their stakes in the business. Oppenheimer & Co. Inc. bought a new stake in shares of Ally Financial during the 1st quarter valued at about $367,000. US Bancorp DE raised its position in shares of Ally Financial by 5.1% during the 1st quarter. US Bancorp DE now owns 16,297 shares of the financial services provider’s stock worth $661,000 after purchasing an additional 793 shares during the period. State Board of Administration of Florida Retirement System raised its position in shares of Ally Financial by 13.3% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 398,252 shares of the financial services provider’s stock worth $16,165,000 after purchasing an additional 46,880 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Ally Financial by 17.6% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 159,405 shares of the financial services provider’s stock worth $6,470,000 after purchasing an additional 23,803 shares during the last quarter. Finally, Blair William & Co. IL boosted its position in Ally Financial by 107.0% during the 1st quarter. Blair William & Co. IL now owns 20,019 shares of the financial services provider’s stock valued at $813,000 after purchasing an additional 10,350 shares during the period. Institutional investors own 88.76% of the company’s stock.

About Ally Financial

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.