Royal Bank of Canada Forecasts Strong Price Appreciation for Ally Financial (NYSE:ALLY) Stock

Ally Financial (NYSE:ALLY) had its price target upped by Royal Bank of Canada from $41.00 to $45.00 in a report released on Thursday,Benzinga reports. They currently have an outperform rating on the financial services provider’s stock.

Other analysts also recently issued research reports about the stock. Truist Financial initiated coverage on shares of Ally Financial in a report on Tuesday, January 7th. They issued a “buy” rating and a $42.00 price objective for the company. The Goldman Sachs Group increased their price target on Ally Financial from $42.00 to $48.00 and gave the company a “buy” rating in a report on Thursday. JPMorgan Chase & Co. boosted their price objective on Ally Financial from $40.00 to $43.00 and gave the stock an “overweight” rating in a research note on Thursday. Barclays raised their target price on Ally Financial from $36.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. Finally, Wolfe Research cut shares of Ally Financial from an “outperform” rating to a “peer perform” rating in a research report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $43.47.

Ally Financial Stock Performance

Shares of NYSE:ALLY opened at $40.12 on Thursday. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.92 and a quick ratio of 0.92. Ally Financial has a 1 year low of $31.95 and a 1 year high of $45.46. The firm has a market capitalization of $12.22 billion, a PE ratio of 16.05, a P/E/G ratio of 0.40 and a beta of 1.44. The business’s 50 day moving average price is $36.92 and its 200-day moving average price is $37.93.

Ally Financial (NYSE:ALLY) last announced its earnings results on Wednesday, January 22nd. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.21. The company had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2,021,808.41 billion. Ally Financial had a net margin of 10.84% and a return on equity of 8.39%. The firm’s quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.45 EPS. As a group, equities research analysts expect that Ally Financial will post 2.96 earnings per share for the current fiscal year.

Ally Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date is Friday, January 31st. Ally Financial’s dividend payout ratio (DPR) is 48.00%.

Institutional Trading of Ally Financial

A number of institutional investors and hedge funds have recently bought and sold shares of the business. CIBC Asset Management Inc boosted its stake in shares of 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 valued at $557,000 after purchasing an additional 293 shares during the period. Maverick Capital Ltd. boosted its position in 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 stake in shares of Ally Financial by 8.2% in the third quarter. Blue Trust Inc. now owns 4,660 shares of the financial services provider’s stock worth $166,000 after acquiring an additional 352 shares in the last quarter. Allworth Financial LP increased its position 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 worth $51,000 after acquiring an additional 421 shares during the period. Finally, Venturi Wealth Management LLC raised its stake in shares of Ally Financial by 153.9% in the third quarter. Venturi Wealth Management LLC now owns 952 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 577 shares in the last quarter. 88.76% of the stock is currently owned by hedge funds and other 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.