Royal Bank of Canada Lowers Ally Financial (NYSE:ALLY) Price Target to $40.00

Ally Financial (NYSE:ALLY) had its price objective reduced by Royal Bank of Canada from $45.00 to $40.00 in a research report issued to clients and investors on Monday. The firm presently has an “outperform” rating on the financial services provider’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 26.56% from the company’s previous close. The firm anticipates consistent though seasonally-driven fundamental trends, with lower loans and volumes in the quarter, the analyst tells investors in a research note. RBC also expects stable credit trends, with improvement in year over year delinquencies for most names, warning however that Q1 loan loss provisions and reserve levels may reflect the recent more uncertain environment.

A number of other research firms also recently commented on ALLY. StockNews.com downgraded shares of Ally Financial from a “buy” rating to a “hold” rating in a research note on Thursday, January 23rd. Compass Point raised shares of Ally Financial from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $37.00 to $41.00 in a research note on Monday, April 7th. Barclays increased their target price on Ally Financial from $36.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. Truist Financial cut their price objective on Ally Financial from $47.00 to $45.00 and set a “buy” rating on the stock in a report on Friday, April 4th. Finally, Bank of America cut their price target on shares of Ally Financial from $42.00 to $38.00 and set a “buy” rating on the stock in a report on Monday, April 7th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $41.76.

Ally Financial Trading Down 1.8 %

Shares of Ally Financial stock traded down $0.57 during mid-day trading on Monday, hitting $31.61. 5,822,981 shares of the stock were exchanged, compared to its average volume of 3,544,746. The company has a 50-day simple moving average of $35.39 and a 200 day simple moving average of $36.22. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.51. The stock has a market capitalization of $9.71 billion, a price-to-earnings ratio of 12.16, a price-to-earnings-growth ratio of 0.32 and a beta of 1.12. Ally Financial has a twelve month low of $29.52 and a twelve month high of $45.46.

Ally Financial (NYSE:ALLY) last issued its quarterly earnings results on Thursday, April 17th. The financial services provider reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.05. Ally Financial had a return on equity of 9.31% and a net margin of 11.29%. During the same period in the prior year, the firm posted $0.45 earnings per share. Research analysts forecast that Ally Financial will post 3.57 EPS for the current year.

Insider Buying and Selling at Ally Financial

In other Ally Financial news, CEO Michael George Rhodes acquired 25,634 shares of the firm’s stock in a transaction on Monday, January 27th. The stock was purchased at an average price of $39.09 per share, with a total value of $1,002,033.06. Following the completion of the acquisition, the chief executive officer now directly owns 25,634 shares in the company, valued at $1,002,033.06. This trade represents a ? increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Russell E. Hutchinson purchased 19,100 shares of Ally Financial stock in a transaction dated Friday, January 24th. The stock was acquired at an average price of $39.45 per share, for a total transaction of $753,495.00. Following the completion of the transaction, the chief financial officer now owns 202,845 shares in the company, valued at approximately $8,002,235.25. The trade was a 10.39 % increase in their position. The disclosure for this purchase can be found here. 0.67% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Ally Financial

Several institutional investors and hedge funds have recently bought and sold shares of the business. Oak Thistle LLC acquired a new stake in shares of Ally Financial during the 4th quarter worth approximately $1,112,000. Wealthcare Advisory Partners LLC bought a new stake in Ally Financial in the fourth quarter valued at $461,000. Franklin Resources Inc. grew its position in shares of Ally Financial by 184.7% during the third quarter. Franklin Resources Inc. now owns 532,090 shares of the financial services provider’s stock worth $19,044,000 after acquiring an additional 345,210 shares during the last quarter. New York State Common Retirement Fund increased its holdings in shares of Ally Financial by 11.6% in the 4th quarter. New York State Common Retirement Fund now owns 189,643 shares of the financial services provider’s stock worth $6,829,000 after acquiring an additional 19,785 shares during the period. Finally, Kestra Private Wealth Services LLC boosted its stake in Ally Financial by 16.1% during the 4th quarter. Kestra Private Wealth Services LLC now owns 147,933 shares of the financial services provider’s stock valued at $5,327,000 after purchasing an additional 20,569 shares during the period. Institutional investors and hedge funds own 88.76% of the company’s stock.

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.