Ally Financial (NYSE:ALLY – Get Rating) had its price target increased by BMO Capital Markets from $47.00 to $51.00 in a research report sent to investors on Monday morning, Benzinga reports. BMO Capital Markets currently has an outperform rating on the financial services provider's stock.
Several other brokerages also recently weighed in on ALLY. Piper Sandler upgraded Ally Financial from an underweight rating to a neutral rating and lifted their target price for the company from $25.00 to $28.00 in a research note on Monday, January 9th. Royal Bank of Canada lowered their target price on Ally Financial from $37.00 to $32.00 and set an outperform rating on the stock in a research note on Thursday, October 20th. Wells Fargo & Company decreased their price target on Ally Financial from $22.00 to $20.00 and set an underweight rating on the stock in a research note on Tuesday, January 3rd. JPMorgan Chase & Co. lifted their price target on Ally Financial from $27.00 to $30.00 and gave the company a neutral rating in a research note on Monday. Finally, S&P Equity Research set a $29.50 price target on Ally Financial in a research note on Monday, November 14th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Hold and an average target price of $35.08.
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Ally Financial Trading Down 1.2 %
Shares of ALLY stock opened at $32.28 on Monday. The business's 50 day moving average is $26.13 and its two-hundred day moving average is $29.43. Ally Financial has a twelve month low of $22.34 and a twelve month high of $51.05. The company has a market capitalization of $9.64 billion, a P/E ratio of 6.49 and a beta of 1.27. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 1.64.
Ally Financial Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 15th. Stockholders of record on Wednesday, February 1st will be issued a $0.30 dividend. The ex-dividend date is Tuesday, January 31st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.72%. Ally Financial's dividend payout ratio (DPR) is 24.14%.
Hedge Funds Weigh In On Ally Financial
A number of institutional investors have recently made changes to their positions in ALLY. Franklin Resources Inc. increased its stake in Ally Financial by 9.7% in the second quarter. Franklin Resources Inc. now owns 113,266 shares of the financial services provider's stock valued at $3,795,000 after purchasing an additional 9,972 shares during the last quarter. National Bank of Canada FI increased its stake in Ally Financial by 3,235.2% in the third quarter. National Bank of Canada FI now owns 92,885 shares of the financial services provider's stock valued at $2,585,000 after purchasing an additional 90,100 shares during the last quarter. DekaBank Deutsche Girozentrale increased its stake in Ally Financial by 30.5% in the second quarter. DekaBank Deutsche Girozentrale now owns 184,309 shares of the financial services provider's stock valued at $6,176,000 after purchasing an additional 43,074 shares during the last quarter. Stock Yards Bank & Trust Co. acquired a new position in Ally Financial in the second quarter valued at $1,295,000. Finally, Affinity Investment Advisors LLC increased its stake in Ally Financial by 11.9% in the second quarter. Affinity Investment Advisors LLC now owns 8,808 shares of the financial services provider's stock valued at $295,000 after purchasing an additional 935 shares during the last quarter. 90.35% of the stock is owned by institutional investors and hedge funds.
About Ally Financial
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Ally Financial, Inc is a holding company, which provides digital financial services to consumers, businesses, automotive dealers, and corporate clients. It operates through the following segments: Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations.
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