Wells Fargo & Company Forecasts Strong Price Appreciation for Ally Financial (NYSE:ALLY) Stock

Ally Financial (NYSE:ALLY) had its price target upped by equities research analysts at Wells Fargo & Company from $32.00 to $34.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has an “underweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price objective indicates a potential downside of 12.88% from the stock’s current price.

Other equities research analysts have also issued reports about the company. Truist Financial started coverage on Ally Financial in a research report on Tuesday, January 7th. They set a “buy” rating and a $42.00 price target on the stock. JPMorgan Chase & Co. reduced their target price on shares of Ally Financial from $42.00 to $40.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 14th. Keefe, Bruyette & Woods increased their price target on shares of 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 upgraded shares of Ally Financial from an “underperform” rating to a “market perform” rating in a research report on Monday, October 21st. Finally, Jefferies Financial Group increased their price objective on Ally Financial from $35.00 to $40.00 and gave the company a “hold” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $43.47.

Ally Financial Trading Down 2.7 %

Shares of NYSE:ALLY opened at $39.03 on Thursday. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 1.51. The stock has a market capitalization of $11.89 billion, a PE ratio of 15.01, a P/E/G ratio of 0.42 and a beta of 1.44. Ally Financial has a 1 year low of $31.95 and a 1 year high of $45.46. The firm has a fifty day moving average price of $37.00 and a 200 day moving average price of $37.95.

Ally Financial (NYSE:ALLY) last posted its earnings results on Wednesday, January 22nd. The financial services provider reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.21. The firm had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2,021,808.41 billion. Ally Financial had a return on equity of 9.31% and a net margin of 11.29%. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.45 EPS. Analysts expect that Ally Financial will post 3.91 EPS for the current fiscal year.

Institutional Investors Weigh In On Ally Financial

Several large investors have recently bought and sold shares of ALLY. Venturi Wealth Management LLC grew its holdings in shares of Ally Financial by 153.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 952 shares of the financial services provider’s stock valued at $34,000 after buying an additional 577 shares during the period. Allworth Financial LP lifted its holdings in Ally Financial by 41.9% during the third quarter. Allworth Financial LP now owns 1,426 shares of the financial services provider’s stock worth $51,000 after acquiring an additional 421 shares in the last quarter. UMB Bank n.a. grew its stake 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 during the period. Quarry LP increased its holdings in shares of Ally Financial by 311.4% in the second quarter. Quarry LP now owns 1,510 shares of the financial services provider’s stock worth $60,000 after acquiring an additional 1,143 shares in the last quarter. Finally, Brooklyn Investment Group acquired a new stake in shares of Ally Financial during the third quarter worth about $63,000. 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.