Bank of America Has Lowered Expectations for Ally Financial (NYSE:ALLY) Stock Price

Ally Financial (NYSE:ALLY) had its target price lowered by analysts at Bank of America from $42.00 to $38.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the financial services provider’s stock. Bank of America‘s target price indicates a potential upside of 18.17% from the stock’s current price.

Several other equities research analysts have also recently commented on the company. Royal Bank of Canada increased their price objective on Ally Financial from $41.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, January 23rd. Jefferies Financial Group upped their price objective on Ally Financial from $35.00 to $40.00 and gave the stock a “hold” rating in a research note on Thursday, January 23rd. JPMorgan Chase & Co. raised their target price on shares of Ally Financial from $40.00 to $43.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd. BTIG Research cut Ally Financial from a “neutral” rating to a “sell” rating and set a $30.00 price target on the stock. in a report on Tuesday, March 25th. Finally, Morgan Stanley upped their price target on Ally Financial from $41.00 to $45.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $42.82.

Ally Financial Price Performance

ALLY opened at $32.16 on Monday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.51. The stock has a fifty day simple moving average of $36.72 and a two-hundred day simple moving average of $36.44. The company has a market cap of $9.88 billion, a price-to-earnings ratio of 12.37, a price-to-earnings-growth ratio of 0.32 and a beta of 1.12. Ally Financial has a 12-month low of $30.00 and a 12-month high of $45.46.

Ally Financial (NYSE:ALLY) last announced its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.21. Ally Financial had a return on equity of 9.31% and a net margin of 11.29%. The business had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.02 billion. During the same quarter in the previous year, the business earned $0.45 earnings per share. The firm’s quarterly revenue was up 3.6% compared to the same quarter last year. Research analysts predict that Ally Financial will post 3.57 earnings per share for the current fiscal year.

Insider Buying and Selling at Ally Financial

In other news, CEO Michael George Rhodes acquired 25,634 shares of the firm’s stock in a transaction on Monday, January 27th. The stock was acquired at an average price of $39.09 per share, with a total value of $1,002,033.06. Following the completion of the purchase, the chief executive officer now directly owns 25,634 shares in the company, valued at approximately $1,002,033.06. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Russell E. Hutchinson bought 19,100 shares of the company’s stock in a transaction on Friday, January 24th. The shares were acquired at an average price of $39.45 per share, with a total value of $753,495.00. Following the transaction, the chief financial officer now directly owns 202,845 shares of the company’s stock, valued at approximately $8,002,235.25. This trade represents a 10.39 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.67% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Oak Thistle LLC bought a new position in Ally Financial in the 4th quarter worth about $1,112,000. State Street Corp boosted its holdings in shares of Ally Financial by 0.5% in the third quarter. State Street Corp now owns 10,704,719 shares of the financial services provider’s stock valued at $380,981,000 after purchasing an additional 51,426 shares during the period. Wealthcare Advisory Partners LLC bought a new position in Ally Financial in the fourth quarter worth approximately $461,000. Franklin Resources Inc. increased its holdings in Ally Financial by 184.7% during the 3rd quarter. Franklin Resources Inc. now owns 532,090 shares of the financial services provider’s stock worth $19,044,000 after purchasing an additional 345,210 shares during the period. Finally, New York State Common Retirement Fund raised its position in Ally Financial by 11.6% during the 4th quarter. New York State Common Retirement Fund now owns 189,643 shares of the financial services provider’s stock valued at $6,829,000 after purchasing an additional 19,785 shares in the last quarter. 88.76% of the stock is currently owned by 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.