Ally Financial (NYSE:ALLY) Price Target Cut to $35.00

Ally Financial (NYSE:ALLYGet Rating) had its target price cut by Credit Suisse Group from $36.00 to $35.00 in a research note issued to investors on Monday, Benzinga reports. They currently have an outperform rating on the financial services provider’s stock.

Other equities research analysts have also recently issued reports about the stock. Royal Bank of Canada dropped their price target on shares of Ally Financial from $37.00 to $32.00 and set an outperform rating on the stock in a research report on Thursday, October 20th. BMO Capital Markets cut their target price on shares of Ally Financial from $66.00 to $46.00 and set an outperform rating for the company in a research note on Thursday, October 20th. Wells Fargo & Company decreased their price target on shares of Ally Financial from $22.00 to $20.00 and set an underweight rating on the stock in a research report on Tuesday, January 3rd. Bank of America downgraded Ally Financial from a buy rating to an underperform rating and cut their price objective for the company from $35.00 to $26.00 in a research report on Thursday, January 5th. Finally, Raymond James cut Ally Financial from an outperform rating to a market perform rating in a report on Thursday, October 6th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, Ally Financial currently has an average rating of Hold and an average price target of $35.08.

Ally Financial Stock Performance

Shares of NYSE ALLY opened at $32.30 on Monday. Ally Financial has a 1 year low of $22.34 and a 1 year high of $51.05. The firm has a market cap of $9.65 billion, a P/E ratio of 6.50 and a beta of 1.27. The stock has a fifty day moving average price of $25.82 and a two-hundred day moving average price of $29.41. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.87 and a current ratio of 0.88.

Ally Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 15th. Investors of record on Wednesday, February 1st will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, January 31st. This represents a $1.20 annualized dividend and a dividend yield of 3.72%. Ally Financial’s dividend payout ratio is 24.14%.

Institutional Investors Weigh In On Ally Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in ALLY. Kinneret Advisory LLC increased its holdings in Ally Financial by 2.3% in the first quarter. Kinneret Advisory LLC now owns 11,700 shares of the financial services provider’s stock worth $509,000 after buying an additional 262 shares during the last quarter. Blair William & Co. IL raised its holdings in shares of Ally Financial by 2.6% during the 1st quarter. Blair William & Co. IL now owns 10,497 shares of the financial services provider’s stock valued at $456,000 after purchasing an additional 264 shares in the last quarter. Salem Investment Counselors Inc. lifted its stake in shares of Ally Financial by 115.0% in the 1st quarter. Salem Investment Counselors Inc. now owns 645 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 345 shares during the last quarter. EP Wealth Advisors LLC boosted its holdings in Ally Financial by 8.2% in the first quarter. EP Wealth Advisors LLC now owns 4,656 shares of the financial services provider’s stock worth $202,000 after purchasing an additional 354 shares in the last quarter. Finally, Vestmark Advisory Solutions Inc. increased its position in Ally Financial by 3.8% during the second quarter. Vestmark Advisory Solutions Inc. now owns 9,632 shares of the financial services provider’s stock worth $323,000 after buying an additional 356 shares during the last quarter. 90.35% of the stock is owned by hedge funds and other institutional investors.

About Ally Financial

(Get Rating)

Ally Financial, Inc is a holding company, which provides digital financial services to consumers, businesses, automotive dealers, and corporate clients. It operates through the following segments: Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations.

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