Ally Financial (NYSE:ALLY) Stock Rating Upgraded by JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Ally Financial (NYSE:ALLY) from an underweight rating to a neutral rating in a research report released on Monday, Marketbeat reports. The brokerage currently has $45.00 price objective on the financial services provider’s stock, up from their previous price objective of $39.00.

Other equities research analysts also recently issued reports about the company. Deutsche Bank Aktiengesellschaft lowered their price target on Ally Financial from $51.00 to $50.00 and set a buy rating on the stock in a research report on Monday, July 1st. Evercore ISI increased their price objective on Ally Financial from $43.00 to $45.00 and gave the company an in-line rating in a research report on Tuesday, June 25th. StockNews.com raised shares of Ally Financial from a sell rating to a hold rating in a research report on Friday, April 26th. Wells Fargo & Company increased their price target on shares of Ally Financial from $29.00 to $33.00 and gave the company an underweight rating in a report on Wednesday, April 10th. Finally, Bank of America upgraded shares of Ally Financial from a neutral rating to a buy rating and boosted their price objective for the stock from $42.00 to $46.00 in a report on Tuesday, April 9th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Ally Financial has a consensus rating of Hold and an average price target of $41.89.

Ally Financial Stock Up 0.5 %

Shares of Ally Financial stock opened at $41.24 on Monday. Ally Financial has a 12-month low of $22.54 and a 12-month high of $41.77. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.50. The stock has a 50 day moving average price of $39.50 and a two-hundred day moving average price of $37.81. The stock has a market capitalization of $12.54 billion, a P/E ratio of 16.83, a PEG ratio of 0.49 and a beta of 1.41.

Ally Financial (NYSE:ALLY) last issued its quarterly earnings data on Thursday, April 18th. The financial services provider reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.12. Ally Financial had a net margin of 10.59% and a return on equity of 8.35%. The business had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.96 billion. During the same period in the previous year, the company earned $0.82 earnings per share. Ally Financial’s revenue for the quarter was down 5.4% on a year-over-year basis. Equities analysts expect that Ally Financial will post 3 earnings per share for the current year.

Ally Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date was Tuesday, April 30th. Ally Financial’s dividend payout ratio (DPR) is currently 48.98%.

Hedge Funds Weigh In On Ally Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Donald Smith & CO. Inc. raised its stake in shares of Ally Financial by 22.0% in the fourth quarter. Donald Smith & CO. Inc. now owns 2,752,830 shares of the financial services provider’s stock valued at $96,129,000 after acquiring an additional 495,584 shares during the last quarter. Allianz Asset Management GmbH increased its holdings in Ally Financial by 18.7% during the 4th quarter. Allianz Asset Management GmbH now owns 1,662,075 shares of the financial services provider’s stock valued at $58,040,000 after purchasing an additional 261,897 shares in the last quarter. Banque Cantonale Vaudoise raised its position in Ally Financial by 309.5% in the 1st quarter. Banque Cantonale Vaudoise now owns 99,315 shares of the financial services provider’s stock valued at $4,031,000 after purchasing an additional 75,063 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Ally Financial by 17.1% in the fourth quarter. Victory Capital Management Inc. now owns 91,263 shares of the financial services provider’s stock worth $3,187,000 after purchasing an additional 13,352 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Ally Financial during the fourth quarter worth $62,869,000. 88.76% of the stock is currently owned by institutional investors and hedge funds.

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.