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

Research analysts at Truist Financial began coverage on shares of Ally Financial (NYSE:ALLY) in a research note issued on Tuesday,Benzinga reports. The firm set a “buy” rating and a $42.00 price target on the financial services provider’s stock. Truist Financial’s price objective would suggest a potential upside of 17.94% from the company’s current price.

Several other equities analysts also recently issued reports on the stock. TD Cowen decreased 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 note on Monday, September 23rd. JPMorgan Chase & Co. upped their price objective on shares of Ally Financial from $40.00 to $42.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. BTIG Research downgraded shares of Ally Financial from a “buy” rating to a “neutral” rating in a research note on Monday, September 16th. Barclays upped their price objective on shares of Ally Financial from $36.00 to $44.00 and gave the company an “equal weight” rating in a research note on Monday. Finally, Raymond James raised shares of 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 assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $42.67.

Ally Financial Stock Performance

Shares of ALLY stock opened at $35.61 on Tuesday. 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 firm has a fifty day moving average price of $36.87 and a 200 day moving average price of $38.17. The company has a market cap of $10.85 billion, a P/E ratio of 14.24, a PEG ratio of 0.46 and a beta of 1.44. Ally Financial has a 12 month low of $31.77 and a 12 month high of $45.46.

Ally Financial (NYSE:ALLY) last released its quarterly earnings data on Friday, October 18th. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.38. Ally Financial had a net margin of 10.84% and a return on equity of 8.39%. The company had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the prior year, the firm posted $0.83 earnings per share. Ally Financial’s revenue for the quarter was up 6.9% on a year-over-year basis. Sell-side analysts predict that Ally Financial will post 3 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC raised its holdings in Ally Financial by 510.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 629 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 526 shares in the last quarter. Venturi Wealth Management LLC increased its holdings in Ally Financial by 153.9% in the third 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 in the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in Ally Financial in the second quarter valued at about $41,000. Allworth Financial LP increased its holdings in Ally Financial by 41.9% in the third quarter. Allworth Financial LP now owns 1,426 shares of the financial services provider’s stock valued at $51,000 after buying an additional 421 shares in the last quarter. Finally, Quarry LP increased its holdings in Ally Financial by 311.4% in the second quarter. Quarry LP now owns 1,510 shares of the financial services provider’s stock valued at $60,000 after buying an additional 1,143 shares in the last quarter. 88.76% of the stock is 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.