Ally Financial (NYSE:ALLY) Given New $37.00 Price Target at BMO Capital Markets

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

A number of other equities research analysts have also weighed in on the stock. Compass Point boosted their price objective on shares of Ally Financial from $28.00 to $37.00 and gave the stock a neutral rating in a report on Thursday, April 11th. Morgan Stanley upgraded shares of Ally Financial from an equal weight rating to an overweight rating and boosted their price objective for the stock from $37.00 to $47.00 in a report on Thursday, February 8th. Deutsche Bank Aktiengesellschaft started coverage on shares of Ally Financial in a research note on Wednesday, January 10th. They issued a buy rating and a $47.00 target price on the stock. StockNews.com raised shares of Ally Financial from a sell rating to a hold rating in a research note on Wednesday. Finally, Raymond James downgraded shares of Ally Financial from a market perform rating to an underperform rating in a research note on Friday, January 5th. 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 has an average rating of Hold and an average price target of $38.47.

Ally Financial Trading Up 1.0 %

Shares of Ally Financial stock opened at $39.08 on Friday. Ally Financial has a 1 year low of $22.54 and a 1 year high of $41.56. The firm has a market cap of $11.88 billion, a PE ratio of 13.07, a PEG ratio of 0.53 and a beta of 1.40. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.90 and a quick ratio of 0.90. The company has a 50 day simple moving average of $37.71 and a two-hundred day simple moving average of $32.92.

Ally Financial (NYSE:ALLY) last announced its quarterly earnings data on Thursday, April 18th. The financial services provider reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.12. The firm had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.96 billion. Ally Financial had a net margin of 12.42% and a return on equity of 9.41%. The business’s quarterly revenue was down 5.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.82 EPS. Analysts expect that Ally Financial will post 2.94 earnings per share for the current fiscal year.

Ally Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date is Tuesday, April 30th. Ally Financial’s dividend payout ratio is presently 40.13%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Salem Investment Counselors Inc. increased 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 worth $28,000 after acquiring an additional 345 shares in the last quarter. Rise Advisors LLC bought a new position in shares of Ally Financial in the 1st quarter worth about $32,000. Northwest Financial Advisors bought a new position in shares of Ally Financial in the 4th quarter worth about $31,000. Quarry LP increased its stake 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 in the last quarter. Finally, NBC Securities Inc. bought a new position in shares of Ally Financial in the 3rd quarter worth about $26,000. 88.76% of the stock is currently owned by institutional investors.

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.