Ally Financial (NYSE:ALLY) Price Target Raised to $55.00 at Citigroup

Ally Financial (NYSE:ALLY) had its price target raised by Citigroup from $50.00 to $55.00 in a report published on Friday morning,Benzinga reports. Citigroup currently has a buy rating on the financial services provider’s stock.

Several other research firms have also issued reports on ALLY. Raymond James upgraded shares of Ally Financial from an “underperform” rating to a “market perform” rating in a research report on Monday, October 21st. Barclays decreased their price objective on Ally Financial from $44.00 to $36.00 and set an “equal weight” rating on the stock in a report on Thursday, September 12th. Evercore ISI cut their target price on Ally Financial from $47.00 to $38.00 and set an “in-line” rating for the company in a research note on Monday, October 7th. Morgan Stanley decreased their price target on shares of Ally Financial from $45.00 to $41.00 and set an “overweight” rating on the stock in a research note on Monday, October 21st. Finally, Bank of America lowered their price target on shares of Ally Financial from $46.00 to $37.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $40.69.

Ally Financial Price Performance

NYSE:ALLY remained flat at $36.22 during midday trading on Friday. 2,166,851 shares of the company were exchanged, compared to its average volume of 3,484,636. The firm has a market capitalization of $11.04 billion, a PE ratio of 14.49, a P/E/G ratio of 0.43 and a beta of 1.40. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.92 and a quick ratio of 0.92. Ally Financial has a 1-year low of $26.50 and a 1-year high of $45.46. The business has a fifty day moving average price of $35.14 and a two-hundred day moving average price of $38.75.

Ally Financial (NYSE:ALLY) last posted its quarterly earnings data on Friday, October 18th. The financial services provider reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.38. The business had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Ally Financial had a return on equity of 8.39% and a net margin of 10.84%. The firm’s revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.83 EPS. On average, equities research analysts anticipate that Ally Financial will post 3 earnings per share for the current fiscal year.

Ally Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.31%. The ex-dividend date of this dividend was Friday, November 1st. Ally Financial’s dividend payout ratio (DPR) is presently 48.00%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Fifth Third Bancorp boosted its stake in Ally Financial by 1.2% during the 2nd quarter. Fifth Third Bancorp now owns 23,275 shares of the financial services provider’s stock worth $923,000 after acquiring an additional 278 shares during the last quarter. CIBC Asset Management Inc boosted its position in shares of Ally Financial by 1.9% during the third quarter. CIBC Asset Management Inc now owns 15,638 shares of the financial services provider’s stock worth $557,000 after purchasing an additional 293 shares in the last quarter. Maverick Capital Ltd. grew its holdings in shares of Ally Financial by 1.2% in the 3rd quarter. Maverick Capital Ltd. now owns 26,120 shares of the financial services provider’s stock valued at $930,000 after buying an additional 299 shares during the period. Blue Trust Inc. raised its stake in Ally Financial by 8.2% during the 3rd quarter. Blue Trust Inc. now owns 4,660 shares of the financial services provider’s stock worth $166,000 after buying an additional 352 shares during the period. Finally, Allworth Financial LP raised its stake in Ally Financial by 41.9% during the 3rd quarter. Allworth Financial LP now owns 1,426 shares of the financial services provider’s stock worth $51,000 after buying an additional 421 shares during the period. Institutional investors 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.