TD Cowen Raises Ally Financial (NYSE:ALLY) Price Target to $43.00

Ally Financial (NYSE:ALLY) had its price objective hoisted by TD Cowen from $42.00 to $43.00 in a research report sent to investors on Friday morning, Benzinga reports. They currently have a hold rating on the financial services provider’s stock.

Other analysts also recently issued reports about the company. StockNews.com raised Ally Financial from a sell rating to a hold rating in a report on Wednesday, April 17th. Wells Fargo & Company upped their price objective on Ally Financial from $29.00 to $33.00 and gave the company an underweight rating in a research note on Wednesday, April 10th. Barclays upped their price objective on Ally Financial from $32.00 to $43.00 and gave the company an equal weight rating in a research note on Tuesday, January 2nd. Compass Point upped their price objective on Ally Financial from $28.00 to $37.00 and gave the company a neutral rating in a research note on Thursday, April 11th. Finally, Evercore ISI upped their price objective on Ally Financial from $41.00 to $43.00 and gave the company an in-line rating in a research note on Thursday, March 28th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $38.47.

Ally Financial Stock Up 1.8 %

Ally Financial stock opened at $39.76 on Friday. Ally Financial has a fifty-two week low of $22.54 and a fifty-two week high of $41.56. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.92 and a current ratio of 0.92. The company has a market capitalization of $12.09 billion, a P/E ratio of 16.23, a PEG ratio of 0.58 and a beta of 1.40. The stock has a 50-day simple moving average of $37.76 and a 200-day simple moving average of $33.13.

Ally Financial (NYSE:ALLY) last posted its earnings results on Thursday, April 18th. The financial services provider reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.12. Ally Financial had a return on equity of 8.35% and a net margin of 10.59%. The business had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.96 billion. During the same period in the previous year, the business earned $0.82 EPS. The business’s quarterly revenue was down 5.4% on a year-over-year basis. Equities research analysts expect that Ally Financial will post 2.9 earnings per share for the current year.

Ally Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.02%. The ex-dividend date is Tuesday, April 30th. Ally Financial’s payout ratio is 48.98%.

Institutional Investors Weigh In On Ally Financial

Institutional investors and hedge funds have recently modified their holdings of the company. Rise Advisors LLC acquired a new stake in shares of Ally Financial in the 1st quarter worth approximately $32,000. Northwest Financial Advisors acquired a new stake in shares of Ally Financial in the 4th quarter worth approximately $31,000. Quarry LP grew its holdings in shares of Ally Financial by 165.7% in the 4th quarter. Quarry LP now owns 959 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 598 shares during the period. NBC Securities Inc. purchased a new stake in Ally Financial in the 3rd quarter valued at approximately $26,000. Finally, Friedenthal Financial purchased a new stake in Ally Financial in the 4th quarter valued at approximately $50,000. Institutional investors and hedge funds 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.