Evercore ISI Trims Ally Financial (NYSE:ALLY) Target Price to $38.00

Ally Financial (NYSE:ALLY) had its price objective lowered by Evercore ISI from $47.00 to $38.00 in a research note released on Monday morning, Benzinga reports. The brokerage currently has an in-line rating on the financial services provider’s stock.

Several other equities research analysts have also recently weighed in on ALLY. Wells Fargo & Company decreased their target price on Ally Financial from $37.00 to $32.00 and set an underweight rating for the company in a research note on Thursday, September 26th. BTIG Research lowered shares of Ally Financial from a buy rating to a neutral rating in a research note on Monday, September 16th. TD Cowen reduced their price objective on shares of Ally Financial from $45.00 to $37.00 and set a hold rating for the company in a research report on Monday, September 23rd. Royal Bank of Canada dropped their target price on Ally Financial from $49.00 to $40.00 and set an outperform rating on the stock in a research report on Thursday, September 12th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on Ally Financial from $51.00 to $50.00 and set a buy rating for the company in a report on Monday, July 1st. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of Hold and a consensus target price of $40.63.

Ally Financial Trading Down 0.6 %

NYSE ALLY opened at $35.11 on Monday. The stock has a market capitalization of $10.67 billion, a P/E ratio of 14.33, a PEG ratio of 0.37 and a beta of 1.39. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.92 and a quick ratio of 0.91. Ally Financial has a 12 month low of $22.54 and a 12 month high of $45.46. The firm’s 50-day moving average is $38.32 and its two-hundred day moving average is $39.33.

Ally Financial (NYSE:ALLY) last announced its earnings results on Wednesday, July 17th. The financial services provider reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.33. Ally Financial had a net margin of 10.26% and a return on equity of 8.37%. The firm had revenue of $2 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the prior year, the firm earned $0.96 EPS. The firm’s revenue for the quarter was down 3.8% on a year-over-year basis. On average, sell-side analysts anticipate that Ally Financial will post 3.15 earnings per share for the current year.

Ally Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be issued a $0.30 dividend. The ex-dividend date is Friday, November 1st. This represents a $1.20 dividend on an annualized basis and a yield of 3.42%. Ally Financial’s dividend payout ratio (DPR) is 48.98%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in ALLY. Fifth Third Bancorp lifted its stake in shares of Ally Financial by 1.2% in the 2nd quarter. Fifth Third Bancorp now owns 23,275 shares of the financial services provider’s stock valued at $923,000 after purchasing an additional 278 shares in the last quarter. Trust Co. of Toledo NA OH grew its position in shares of Ally Financial by 1.7% in the 1st quarter. Trust Co. of Toledo NA OH now owns 17,622 shares of the financial services provider’s stock worth $715,000 after acquiring an additional 287 shares in the last quarter. Signet Financial Management LLC boosted its holdings in shares of Ally Financial by 4.8% in the 1st quarter. Signet Financial Management LLC now owns 7,273 shares of the financial services provider’s stock valued at $295,000 after buying an additional 330 shares during the period. Blue Trust Inc. grew its position in shares of Ally Financial by 10.2% during the 2nd quarter. Blue Trust Inc. now owns 4,308 shares of the financial services provider’s stock valued at $175,000 after buying an additional 400 shares during the last quarter. Finally, Versant Capital Management Inc raised its stake in Ally Financial by 39.7% during the second quarter. Versant Capital Management Inc now owns 1,630 shares of the financial services provider’s stock worth $65,000 after acquiring an additional 463 shares during the period. Hedge funds and other 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.