Ally Financial (NYSE:ALLY) Now Covered by Truist Financial

Truist Financial began coverage on shares of Ally Financial (NYSE:ALLY) in a research note released on Tuesday morning, Marketbeat Ratings reports. The firm issued a buy rating and a $42.00 target price on the financial services provider’s stock.

A number of other analysts also recently issued reports on ALLY. JPMorgan Chase & Co. lifted their price target on Ally Financial from $40.00 to $42.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Evercore ISI lowered their price objective on shares of Ally Financial from $47.00 to $38.00 and set an “in-line” rating on the stock in a research report on Monday, October 7th. Wells Fargo & Company cut their target price on shares of Ally Financial from $37.00 to $32.00 and set an “underweight” rating for the company in a research report on Thursday, September 26th. BTIG Research downgraded Ally Financial from a “buy” rating to a “neutral” rating in a research report on Monday, September 16th. Finally, Raymond James upgraded Ally Financial from an “underperform” rating to a “market perform” rating in a report on Monday, October 21st. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $42.67.

Ally Financial Price Performance

Shares of NYSE:ALLY opened at $35.61 on Tuesday. Ally Financial has a 12 month low of $31.77 and a 12 month high of $45.46. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.36. The stock has a market cap of $10.85 billion, a P/E ratio of 14.24, a P/E/G ratio of 0.46 and a beta of 1.44. The company has a 50 day moving average of $36.88 and a 200 day moving average of $38.15.

Ally Financial (NYSE:ALLY) last released its quarterly earnings results 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 firm had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.03 billion. Ally Financial had a net margin of 10.84% and a return on equity of 8.39%. The business’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.83 earnings per share. As a group, sell-side analysts forecast that Ally Financial will post 3 EPS for the current fiscal year.

Institutional Trading of Ally Financial

Institutional investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC raised its position in Ally Financial by 510.7% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 629 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 526 shares during the last quarter. Commonwealth Equity Services LLC raised its holdings in shares of Ally Financial by 4.1% during the second quarter. Commonwealth Equity Services LLC now owns 77,941 shares of the financial services provider’s stock valued at $3,092,000 after acquiring an additional 3,070 shares in the last quarter. Natixis Advisors LLC lifted its stake in Ally Financial by 9.8% in the second quarter. Natixis Advisors LLC now owns 31,641 shares of the financial services provider’s stock worth $1,255,000 after acquiring an additional 2,828 shares during the period. National Bank of Canada FI boosted its holdings in Ally Financial by 1,764.8% in the second quarter. National Bank of Canada FI now owns 32,541 shares of the financial services provider’s stock valued at $1,278,000 after acquiring an additional 30,796 shares in the last quarter. Finally, Arizona State Retirement System increased its position in Ally Financial by 0.6% during the 2nd quarter. Arizona State Retirement System now owns 75,147 shares of the financial services provider’s stock valued at $2,981,000 after purchasing an additional 480 shares during the period. 88.76% of the stock is currently owned by hedge funds and other institutional investors.

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.