BMO Capital Markets Boosts Ally Financial (NYSE:ALLY) Price Target to $37.00

Ally Financial (NYSE:ALLY) had its price objective raised by BMO Capital Markets from $36.00 to $37.00 in a research note released on Friday, Benzinga reports. They currently have a market perform rating on the financial services provider’s stock.

A number of other brokerages also recently commented on ALLY. StockNews.com upgraded Ally Financial from a sell rating to a hold rating in a research note on Wednesday, April 17th. Royal Bank of Canada restated an outperform rating and issued a $40.00 target price on shares of Ally Financial in a research note on Monday, January 22nd. Deutsche Bank Aktiengesellschaft initiated coverage on Ally Financial in a research note on Wednesday, January 10th. They issued a buy rating and a $47.00 target price on the stock. Evercore ISI boosted their target price 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. Finally, TheStreet upgraded Ally Financial from a c+ rating to a b- rating in a research note on Thursday, January 11th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Hold and an average price target of $38.47.

Ally Financial Stock Performance

Shares of ALLY stock opened at $39.05 on Friday. Ally Financial has a 1-year low of $22.54 and a 1-year high of $41.56. The company has a current ratio of 0.92, a quick ratio of 0.90 and a debt-to-equity ratio of 1.50. The company has a market capitalization of $11.87 billion, a price-to-earnings ratio of 15.94, a P/E/G ratio of 0.57 and a beta of 1.40. The stock’s fifty day simple moving average is $37.71 and its 200-day simple moving average is $33.03.

Ally Financial (NYSE:ALLY) last issued its quarterly earnings results on Thursday, April 18th. The financial services provider reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter in the previous year, the company posted $0.82 earnings per share. Ally Financial’s revenue for the quarter was down 5.4% compared to the same quarter last year. On average, sell-side analysts predict that Ally Financial will post 2.9 earnings per share for the current fiscal year.

Ally Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be given a dividend of $0.30 per share. The ex-dividend date is Tuesday, April 30th. This represents a $1.20 annualized dividend and a dividend yield of 3.07%. Ally Financial’s dividend payout ratio is presently 48.98%.

Hedge Funds Weigh In On Ally Financial

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Ally Financial by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 28,009,495 shares of the financial services provider’s stock valued at $747,293,000 after acquiring an additional 290,842 shares in the last quarter. Sessa Capital IM L.P. raised its holdings in Ally Financial by 426.5% in the 1st quarter. Sessa Capital IM L.P. now owns 9,493,106 shares of the financial services provider’s stock valued at $241,979,000 after acquiring an additional 7,689,915 shares in the last quarter. State Street Corp raised its holdings in Ally Financial by 3.3% in the 1st quarter. State Street Corp now owns 8,749,404 shares of the financial services provider’s stock valued at $380,424,000 after acquiring an additional 281,795 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Ally Financial by 18.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 8,343,564 shares of the financial services provider’s stock valued at $212,677,000 after acquiring an additional 1,281,000 shares in the last quarter. Finally, Millennium Management LLC raised its holdings in Ally Financial by 195.1% in the 4th quarter. Millennium Management LLC now owns 6,058,768 shares of the financial services provider’s stock valued at $148,137,000 after acquiring an additional 4,005,417 shares in the last quarter. 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.