Truist Financial Cuts Ally Financial (NYSE:ALLY) Price Target to $50.00

Ally Financial (NYSE:ALLY) had its target price decreased by Truist Financial from $51.00 to $50.00 in a report issued on Wednesday morning,Benzinga reports. Truist Financial currently has a buy rating on the financial services provider’s stock.

ALLY has been the subject of a number of other reports. Wells Fargo & Company lifted their target price on Ally Financial from $52.00 to $55.00 and gave the stock an “overweight” rating in a report on Friday, June 26th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Ally Financial in a research report on Friday, September 18th. Citigroup lowered their price objective on shares of Ally Financial from $70.00 to $58.00 and set a “buy” rating for the company in a research note on Tuesday, June 23rd. Royal Bank Of Canada boosted their target price on shares of Ally Financial from $52.00 to $55.00 and gave the company an “outperform” rating in a research report on Friday, July 10th. Finally, Wall Street Zen lowered shares of Ally Financial from a “buy” rating to a “hold” rating in a research note on Monday, June 8th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Ally Financial has an average rating of “Moderate Buy” and a consensus target price of $53.13.

Ally Financial Trading Up 0.2%

NYSE:ALLY opened at $38.81 on Wednesday. Ally Financial has a 52 week low of $35.92 and a 52 week high of $47.29. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.92 and a current ratio of 0.92. The firm’s fifty day moving average is $42.73 and its 200-day moving average is $42.69. The firm has a market cap of $11.81 billion, a P/E ratio of 9.15, a P/E/G ratio of 0.24 and a beta of 1.09.

Ally Financial (NYSE:ALLY) last released its earnings results on Tuesday, July 21st. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.22 by ($0.01). Ally Financial had a net margin of 16.75% and a return on equity of 11.75%. The firm had revenue of $2.28 billion during the quarter, compared to analyst estimates of $2.22 billion. During the same quarter in the previous year, the firm earned $0.99 EPS. Ally Financial’s quarterly revenue was up 9.8% on a year-over-year basis. Equities analysts expect that Ally Financial will post 5.17 earnings per share for the current year.

Ally Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were paid a dividend of $0.30 per share. The ex-dividend date was Friday, July 31st. This represents a $1.20 dividend on an annualized basis and a yield of 3.1%. Ally Financial’s payout ratio is 28.30%.

Insider Buying and Selling

In other news, insider Stephanie Richard sold 5,000 shares of the stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $44.23, for a total value of $221,150.00. Following the completion of the sale, the insider directly owned 88,927 shares of the company’s stock, valued at $3,933,241.21. This represents a 5.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.46% of the company’s stock.

Institutional Investors Weigh In On Ally Financial

Several institutional investors have recently bought and sold shares of ALLY. Fideuram Asset Management Ireland dac bought a new position in Ally Financial during the fourth quarter valued at $35,000. Trust Co. of Vermont bought a new stake in shares of Ally Financial in the second quarter valued at $36,000. Harvest Fund Management Co. Ltd purchased a new position in shares of Ally Financial during the 4th quarter valued at $38,000. SJS Investment Consulting Inc. lifted its position in shares of Ally Financial by 30.8% during the 1st quarter. SJS Investment Consulting Inc. now owns 1,019 shares of the financial services provider’s stock valued at $40,000 after buying an additional 240 shares during the last quarter. Finally, Clearstead Advisors LLC grew its stake in shares of Ally Financial by 107.8% during the 4th quarter. Clearstead Advisors LLC now owns 1,043 shares of the financial services provider’s stock worth $47,000 after acquiring an additional 541 shares during the period. Institutional investors own 88.76% of the company’s stock.

About Ally Financial

Ally Financial Inc is a digital financial services company headquartered in Detroit, Michigan. Through its subsidiaries, the company provides consumer and commercial financial products, with a primary focus on automotive financing and digital banking.

Ally’s automotive business offers retail installment sales contracts, consumer loans and leasing products through a network of automotive dealers. The company also provides dealer financing and related commercial lending services. Through Ally Bank, it offers deposit accounts, personal loans, mortgage products and other banking services, while Ally Invest provides self-directed investment and brokerage services to individuals.

The company serves customers primarily in the United States through digital platforms, dealer relationships and other distribution channels.