Ally Financial (NYSE:ALLY) Given New $51.00 Price Target at Evercore ISI

Ally Financial (NYSE:ALLY) had its target price decreased by Evercore ISI from $53.00 to $51.00 in a research report issued to clients and investors on Thursday, MarketBeat Ratings reports. The firm currently has an “outperform” rating on the financial services provider’s stock. Evercore ISI’s price objective indicates a potential upside of 21.41% from the company’s current price.

A number of other equities research analysts also recently weighed in on ALLY. JPMorgan Chase & Co. lifted their target price on Ally Financial from $43.00 to $48.00 and gave the stock an “overweight” rating in a report on Monday, January 12th. TD Cowen reissued a “buy” rating on shares of Ally Financial in a report on Thursday, January 8th. Wells Fargo & Company upgraded shares of Ally Financial from a “hold” rating to an “overweight” rating in a research report on Wednesday, December 17th. Morgan Stanley set a $53.00 price target on Ally Financial and gave the stock an “overweight” rating in a research report on Tuesday, December 16th. Finally, Truist Financial cut their target price on Ally Financial from $51.00 to $50.00 and set a “buy” rating for the company in a research report on Monday, January 26th. Fourteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $50.31.

Ally Financial Stock Performance

Ally Financial stock traded down $1.33 during trading hours on Thursday, hitting $42.01. The company had a trading volume of 960,364 shares, compared to its average volume of 3,851,202. The firm has a 50-day moving average of $43.98 and a 200 day moving average of $41.26. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.92 and a quick ratio of 0.92. The firm has a market cap of $12.94 billion, a PE ratio of 17.82, a PEG ratio of 0.21 and a beta of 1.19. Ally Financial has a one year low of $29.52 and a one year high of $47.27.

Ally Financial (NYSE:ALLY) last posted its earnings results on Wednesday, January 21st. The financial services provider reported $1.09 EPS for the quarter, beating the consensus estimate of $1.01 by $0.08. The company had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.15 billion. Ally Financial had a return on equity of 10.40% and a net margin of 10.77%.The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.78 earnings per share. On average, sell-side analysts expect that Ally Financial will post 3.57 earnings per share for the current year.

Ally Financial declared that its Board of Directors has approved a stock buyback program on Wednesday, December 10th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the financial services provider to reacquire up to 15.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In related news, CFO Russell E. Hutchinson purchased 11,566 shares of the firm’s stock in a transaction that occurred on Tuesday, January 27th. The shares were bought at an average cost of $43.17 per share, with a total value of $499,304.22. Following the acquisition, the chief financial officer owned 225,336 shares of the company’s stock, valued at $9,727,755.12. This trade represents a 5.41% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Michael George Rhodes acquired 23,800 shares of the company’s stock in a transaction that occurred on Friday, January 23rd. The stock was bought at an average cost of $41.68 per share, with a total value of $991,984.00. Following the purchase, the chief executive officer owned 49,434 shares in the company, valued at $2,060,409.12. The trade was a 92.85% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 0.67% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ALLY. Thrivent Financial for Lutherans grew its holdings in Ally Financial by 0.5% during the 4th quarter. Thrivent Financial for Lutherans now owns 3,867,023 shares of the financial services provider’s stock worth $175,137,000 after acquiring an additional 20,198 shares during the last quarter. Allworth Financial LP increased its holdings in Ally Financial by 465.9% in the fourth quarter. Allworth Financial LP now owns 6,531 shares of the financial services provider’s stock valued at $296,000 after purchasing an additional 5,377 shares during the period. Legacy Financial Advisors Inc. raised its position in Ally Financial by 14.3% during the 4th quarter. Legacy Financial Advisors Inc. now owns 23,573 shares of the financial services provider’s stock worth $1,068,000 after purchasing an additional 2,944 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al grew its position in shares of Ally Financial by 153.5% in the 4th quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 54,250 shares of the financial services provider’s stock valued at $2,457,000 after buying an additional 32,850 shares during the last quarter. Finally, Versor Investments LP increased its stake in shares of Ally Financial by 165.8% in the fourth quarter. Versor Investments LP now owns 34,559 shares of the financial services provider’s stock valued at $1,565,000 after buying an additional 21,559 shares during the period. Institutional investors own 88.76% of the company’s stock.

About Ally Financial

Ally Financial Inc is a leading digital financial services company headquartered in Detroit, Michigan. The company offers a comprehensive suite of banking, lending, and insurance products designed for retail and commercial customers. Through its online-only platform, Ally Bank provides checking and savings accounts, certificates of deposit, money market accounts, and home mortgages, emphasizing competitive rates and user-friendly mobile and web experiences.

In addition to its banking operations, Ally Financial is a major player in automotive financing and leasing.