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

Ally Financial (NYSE:ALLYGet Rating) had its target price raised by Barclays from $33.00 to $35.00 in a research report released on Monday morning, Benzinga reports. The firm currently has an equal weight rating on the financial services provider’s stock.

A number of other analysts have also issued reports on ALLY. Raymond James lowered shares of Ally Financial from an outperform rating to a market perform rating in a research note on Thursday, October 6th. Jefferies Financial Group lowered shares of Ally Financial from a buy rating to a hold rating and reduced their target price for the stock from $40.00 to $25.00 in a report on Tuesday, January 10th. Keefe, Bruyette & Woods dropped their price target on shares of Ally Financial from $47.00 to $38.00 in a research note on Wednesday, October 19th. S&P Equity Research set a $29.50 price objective on Ally Financial in a research note on Monday, November 14th. Finally, Compass Point lowered Ally Financial from a buy rating to a neutral rating in a report on Wednesday, October 26th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Ally Financial has an average rating of Hold and an average price target of $35.08.

Ally Financial Stock Up 2.8 %

Ally Financial stock opened at $32.30 on Monday. Ally Financial has a fifty-two week low of $22.34 and a fifty-two week high of $51.05. The firm has a 50 day moving average price of $25.82 and a 200 day moving average price of $29.41. The company has a market capitalization of $9.65 billion, a PE ratio of 6.50 and a beta of 1.27. 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 announced a quarterly dividend, which will be paid on Wednesday, February 15th. Investors of record on Wednesday, February 1st will be given a $0.30 dividend. The ex-dividend date is Tuesday, January 31st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.72%. Ally Financial’s dividend payout ratio (DPR) is presently 24.14%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ALLY. Private Trust Co. NA grew its position in shares of Ally Financial by 99.8% during the third quarter. Private Trust Co. NA now owns 891 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 445 shares during the last quarter. Syverson Strege & Co purchased a new position in Ally Financial during the 2nd quarter worth $26,000. Denali Advisors LLC acquired a new position in Ally Financial in the third quarter valued at $28,000. Salem Investment Counselors Inc. raised its holdings in shares of Ally Financial by 115.0% in the first quarter. Salem Investment Counselors Inc. now owns 645 shares of the financial services provider’s stock valued at $28,000 after buying an additional 345 shares during the last quarter. Finally, Tobam acquired a new stake in shares of Ally Financial during the second quarter worth about $32,000. Institutional investors and hedge funds own 90.35% of the company’s stock.

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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