Keefe, Bruyette & Woods Reiterates $24.00 Price Target for Ally Financial Inc (ALLY)
Ally Financial Inc (NYSE:ALLY) has been assigned a $24.00 price objective by investment analysts at Keefe, Bruyette & Woods in a report issued on Thursday. The brokerage presently has a “buy” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective indicates a potential upside of 20.12% from the stock’s current price.
Other equities analysts have also issued research reports about the company. TheStreet upgraded Ally Financial from a “c” rating to a “b-” rating in a research note on Monday, February 27th. Jefferies Group LLC reiterated a “buy” rating and issued a $28.00 target price on shares of Ally Financial in a research note on Wednesday, December 7th. Deutsche Bank AG restated a “buy” rating on shares of Ally Financial in a research note on Sunday, January 8th. BMO Capital Markets restated a “buy” rating and set a $28.00 price target on shares of Ally Financial in a research note on Wednesday, February 1st. Finally, Morgan Stanley started coverage on Ally Financial in a research note on Tuesday, December 20th. They set an “equal weight” rating on the stock. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $24.46.
Ally Financial (NYSE:ALLY) traded up 3.10% on Thursday, hitting $19.98. 6,044,298 shares of the company were exchanged. Ally Financial has a 52 week low of $14.84 and a 52 week high of $23.62. The company has a 50 day moving average price of $20.53 and a 200-day moving average price of $20.16. The stock has a market capitalization of $9.59 billion, a P/E ratio of 9.30 and a beta of 1.37.
Ally Financial (NYSE:ALLY) last released its quarterly earnings data on Tuesday, January 31st. The financial services provider reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.07. The firm earned $1.38 billion during the quarter, compared to the consensus estimate of $1.36 billion. Ally Financial had a return on equity of 7.86% and a net margin of 16.34%. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.52 earnings per share. On average, equities analysts expect that Ally Financial will post $2.29 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, May 15th. Investors of record on Monday, May 1st will be given a $0.08 dividend. The ex-dividend date of this dividend is Thursday, April 27th. This represents a $0.32 dividend on an annualized basis and a yield of 1.60%. Ally Financial’s dividend payout ratio is currently 14.88%.
TRADEMARK VIOLATION NOTICE: This story was published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this story on another domain, it was illegally copied and reposted in violation of United States and international copyright and trademark laws. The original version of this story can be accessed at https://www.thecerbatgem.com/2017/04/20/ally-financial-inc-ally-given-a-24-00-price-target-at-keefe-bruyette-woods-updated.html.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Global X Management Co. LLC increased its position in shares of Ally Financial by 89.2% in the third quarter. Global X Management Co. LLC now owns 5,121 shares of the financial services provider’s stock worth $100,000 after buying an additional 2,414 shares during the last quarter. Commonwealth Bank of Australia increased its position in shares of Ally Financial by 85.8% in the third quarter. Commonwealth Bank of Australia now owns 6,010 shares of the financial services provider’s stock worth $117,000 after buying an additional 2,775 shares during the last quarter. Creative Planning increased its position in shares of Ally Financial by 385.0% in the first quarter. Creative Planning now owns 6,299 shares of the financial services provider’s stock worth $128,000 after buying an additional 8,509 shares during the last quarter. Advisors Asset Management Inc. increased its position in shares of Ally Financial by 107.6% in the third quarter. Advisors Asset Management Inc. now owns 8,256 shares of the financial services provider’s stock worth $161,000 after buying an additional 4,280 shares during the last quarter. Finally, FNY Partners Fund LP bought a new position in shares of Ally Financial during the fourth quarter worth about $167,000. 95.31% of the stock is owned by institutional investors.
About Ally Financial
Ally Financial Inc is a digital financial services company. The Company is a bank and financial holding company. Its segments include Automotive Finance operations, Insurance operations, Mortgage Finance operations, Corporate Finance operations, and Corporate and Other. The Automotive Finance operations segment provides the United States-based automotive financing services to consumers and automotive dealers, and automotive and equipment financing services to companies and municipalities.
Receive News & Stock Ratings for Ally Financial Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ally Financial Inc and related stocks with our FREE daily email newsletter.