Ally Financial (NYSE:ALLY) Given New $43.00 Price Target at TD Cowen

Ally Financial (NYSE:ALLY) had its target price increased 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 equities analysts have also issued reports about the company. StockNews.com upgraded Ally Financial from a sell rating to a hold rating in a research note on Wednesday. The Goldman Sachs Group reiterated a buy rating on shares of Ally Financial in a report on Thursday, February 1st. TheStreet upgraded Ally Financial from a c+ rating to a b- rating in a report on Thursday, January 11th. Bank of America upgraded Ally Financial from a neutral rating to a buy rating and upped their price objective for the stock from $42.00 to $46.00 in a report on Tuesday, April 9th. Finally, Compass Point upped their price objective on Ally Financial from $28.00 to $37.00 and gave the stock a neutral rating in a report on Thursday, April 11th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $38.47.

Ally Financial Stock Performance

NYSE:ALLY opened at $39.08 on Friday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.90 and a current ratio of 0.92. Ally Financial has a 52-week low of $22.54 and a 52-week high of $41.56. The firm has a market cap of $11.88 billion, a price-to-earnings ratio of 15.95, a PEG ratio of 0.57 and a beta of 1.40. The business’s fifty day moving average is $37.71 and its 200 day moving average is $32.92.

Ally Financial (NYSE:ALLY) last released its quarterly earnings data on Thursday, April 18th. The financial services provider reported $0.45 earnings per share (EPS) 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 company had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.96 billion. During the same period in the previous year, the company posted $0.82 EPS. The firm’s revenue for the quarter was down 5.4% compared to the same quarter last year. Research analysts predict that Ally Financial will post 2.92 EPS for the current year.

Ally Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.07%. The ex-dividend date of this dividend is Tuesday, April 30th. Ally Financial’s dividend payout ratio (DPR) is currently 48.98%.

Institutional Investors Weigh In On Ally Financial

Several institutional investors and hedge funds have recently bought and sold shares of the business. Roundview Capital LLC bought a new position in shares of Ally Financial in the 1st quarter worth approximately $242,000. Cetera Advisor Networks LLC bought a new position in shares of Ally Financial in the 1st quarter worth approximately $214,000. D.A. Davidson & CO. bought a new position in shares of Ally Financial in the 1st quarter worth approximately $261,000. MetLife Investment Management LLC bought a new position in shares of Ally Financial in the 1st quarter worth approximately $294,000. Finally, Rhumbline Advisers raised its position in shares of Ally Financial by 1.4% in the 1st quarter. Rhumbline Advisers now owns 291,312 shares of the financial services provider’s stock worth $12,666,000 after acquiring an additional 4,099 shares in the last quarter. Hedge funds and other institutional investors own 88.76% of the company’s stock.

Ally Financial Company Profile

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.