JPMorgan Chase & Co. Cuts Ally Financial (NYSE:ALLY) Price Target to $40.00

Ally Financial (NYSE:ALLY) had its target price cut by JPMorgan Chase & Co. from $42.00 to $40.00 in a research report sent to investors on Tuesday,Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

Several other equities analysts have also weighed in on the company. Keefe, Bruyette & Woods lifted their price objective on Ally Financial from $44.00 to $56.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Raymond James raised shares of Ally Financial from an “underperform” rating to a “market perform” rating in a research report on Monday, October 21st. Wolfe Research lowered shares of Ally Financial from an “outperform” rating to a “peer perform” rating in a research report on Thursday, December 5th. Barclays lifted their target price on shares of Ally Financial from $36.00 to $44.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Finally, Citigroup increased their price target on Ally Financial from $50.00 to $55.00 and gave the company a “buy” rating in a report on Friday, November 15th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, Ally Financial currently has an average rating of “Hold” and an average price target of $42.53.

Ally Financial Stock Up 0.6 %

Shares of ALLY opened at $37.35 on Tuesday. Ally Financial has a fifty-two week low of $31.77 and a fifty-two week high of $45.46. The company’s fifty day moving average is $36.87 and its two-hundred day moving average is $38.01. The firm has a market cap of $11.38 billion, a PE ratio of 14.94, a price-to-earnings-growth ratio of 0.33 and a beta of 1.44. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.36.

Ally Financial (NYSE:ALLY) last issued its 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. Ally Financial had a return on equity of 8.39% and a net margin of 10.84%. The business had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same period last year, the company posted $0.83 EPS. The business’s quarterly revenue was up 6.9% on a year-over-year basis. Analysts forecast that Ally Financial will post 2.95 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Venturi Wealth Management LLC increased its holdings in Ally Financial by 153.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 952 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 577 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in shares of Ally Financial in the second quarter worth $41,000. Allworth Financial LP increased its stake in shares of Ally Financial by 41.9% in the third 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 last quarter. UMB Bank n.a. raised its holdings in Ally Financial by 218.8% in the fourth quarter. UMB Bank n.a. now owns 1,546 shares of the financial services provider’s stock valued at $56,000 after acquiring an additional 1,061 shares in the last quarter. Finally, Quarry LP boosted its stake in Ally Financial by 311.4% during the 2nd quarter. Quarry LP now owns 1,510 shares of the financial services provider’s stock valued at $60,000 after acquiring an additional 1,143 shares during the last quarter. Institutional investors and hedge funds 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.