Ally Financial (NYSE:ALLY – Get Free Report) had its price target cut by stock analysts at JPMorgan Chase & Co. from $42.00 to $40.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 13.93% from the stock’s current price.
A number of other research firms also recently commented on ALLY. Royal Bank of Canada restated an “outperform” rating and issued a $40.00 price objective on shares of Ally Financial in a report on Monday, October 21st. Evercore ISI reduced their price target on shares of Ally Financial from $47.00 to $38.00 and set an “in-line” rating on the stock in a research report on Monday, October 7th. Truist Financial assumed coverage on shares of Ally Financial in a research note on Tuesday, January 7th. They set a “buy” rating and a $42.00 price objective for the company. TD Cowen cut their target price on shares of Ally Financial from $45.00 to $37.00 and set a “hold” rating on the stock in a research note on Monday, September 23rd. Finally, Keefe, Bruyette & Woods upped their price target on shares of Ally Financial from $44.00 to $56.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $42.53.
Read Our Latest Research Report on ALLY
Ally Financial Trading Up 0.4 %
Ally Financial (NYSE:ALLY – Get Free Report) last released its earnings results on Friday, October 18th. The financial services provider reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.38. The firm had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.03 billion. Ally Financial had a return on equity of 8.39% and a net margin of 10.84%. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.83 earnings per share. On average, analysts expect that Ally Financial will post 3 earnings per share for the current year.
Hedge Funds Weigh In On Ally Financial
Several large investors have recently modified their holdings of ALLY. CIBC Asset Management Inc boosted its holdings in Ally Financial by 1.9% in the third quarter. CIBC Asset Management Inc now owns 15,638 shares of the financial services provider’s stock worth $557,000 after purchasing an additional 293 shares during the period. Maverick Capital Ltd. boosted its holdings in shares of Ally Financial by 1.2% in the 3rd quarter. Maverick Capital Ltd. now owns 26,120 shares of the financial services provider’s stock valued at $930,000 after buying an additional 299 shares during the period. Blue Trust Inc. grew its holdings in shares of Ally Financial by 8.2% during the third quarter. Blue Trust Inc. now owns 4,660 shares of the financial services provider’s stock valued at $166,000 after purchasing an additional 352 shares during the last quarter. Allworth Financial LP boosted its holdings in shares of Ally Financial by 41.9% during the third quarter. Allworth Financial LP now owns 1,426 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 421 shares during the period. Finally, Venturi Wealth Management LLC grew its position in shares of Ally Financial by 153.9% during the third quarter. Venturi Wealth Management LLC now owns 952 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 577 shares during the last quarter. 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.
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