Ally Financial (NYSE:ALLY) Stock Rating Upgraded by Raymond James Financial

Ally Financial (NYSE:ALLY) was upgraded by equities researchers at Raymond James Financial to a “strong-buy” rating in a report issued on Tuesday, Zacks reports.

A number of other brokerages have also weighed in on ALLY. Truist Financial lowered their target price on Ally Financial from $54.00 to $51.00 and set a “buy” rating on the stock in a research report on Tuesday, August 4th. Citigroup reduced their price target on shares of Ally Financial from $70.00 to $58.00 and set a “buy” rating for the company in a research report on Tuesday, June 23rd. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $58.00 price target on shares of Ally Financial in a research note on Wednesday, July 22nd. Wells Fargo & Company raised their price objective on shares of Ally Financial from $52.00 to $55.00 and gave the company an “overweight” rating in a research note on Friday, June 26th. Finally, Bank of America lifted their price objective on shares of Ally Financial from $52.00 to $53.00 and gave the company a “buy” rating in a report on Wednesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $53.73.

Ally Financial Stock Performance

Shares of ALLY opened at $42.69 on Tuesday. Ally Financial has a one year low of $35.92 and a one year high of $47.29. The company has a market cap of $12.99 billion, a PE ratio of 10.07, a P/E/G ratio of 0.26 and a beta of 1.09. The stock has a 50-day moving average of $44.32 and a 200-day moving average of $42.65. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.92.

Ally Financial (NYSE:ALLY) last posted its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $1.21 earnings per share for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.01). Ally Financial had a return on equity of 11.75% and a net margin of 16.75%.The firm had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.22 billion. During the same period last year, the company posted $0.99 earnings per share. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. On average, equities research analysts predict that Ally Financial will post 5.19 EPS for the current fiscal year.

Insider Transactions at Ally Financial

In related news, insider Stephanie N. Richard sold 5,000 shares of the stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $44.23, for a total value of $221,150.00. Following the completion of the sale, the insider directly owned 88,927 shares of the company’s stock, valued at approximately $3,933,241.21. This represents a 5.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.46% of the company’s stock.

Hedge Funds Weigh In On Ally Financial

A number of hedge funds have recently bought and sold shares of the company. Trust Co. of Vermont purchased a new stake in shares of Ally Financial in the second quarter valued at about $36,000. Fideuram Asset Management Ireland dac purchased a new position in Ally Financial during the fourth quarter worth about $35,000. Safe Harbor Fiduciary LLC purchased a new position in Ally Financial during the fourth quarter worth about $37,000. Harvest Fund Management Co. Ltd bought a new stake in Ally Financial in the 4th quarter worth about $38,000. Finally, CIBC Private Wealth Group LLC grew its position in Ally Financial by 805.1% in the 4th quarter. CIBC Private Wealth Group LLC now owns 896 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 797 shares in the last quarter. 88.76% of the stock is owned by hedge funds and other institutional investors.

Ally Financial Company Profile

Ally Financial Inc is a leading digital financial services company headquartered in Detroit, Michigan. The company offers a comprehensive suite of banking, lending, and insurance products designed for retail and commercial customers. Through its online-only platform, Ally Bank provides checking and savings accounts, certificates of deposit, money market accounts, and home mortgages, emphasizing competitive rates and user-friendly mobile and web experiences.

In addition to its banking operations, Ally Financial is a major player in automotive financing and leasing.