Bank of America Has Lowered Expectations for Ally Financial (NYSE:ALLY) Stock Price

Ally Financial (NYSE:ALLY - Free Report) had its price target cut by Bank of America from $42.00 to $38.00 in a report published on Monday,Benzinga reports. They currently have a buy rating on the financial services provider's stock.

Several other research analysts also recently issued reports on the stock. StockNews.com downgraded shares of Ally Financial from a "buy" rating to a "hold" rating in a report on Thursday, January 23rd. Truist Financial lowered their target price on Ally Financial from $47.00 to $45.00 and set a "buy" rating for the company in a report on Friday, April 4th. Jefferies Financial Group increased their target price on Ally Financial from $35.00 to $40.00 and gave the company a "hold" rating in a research report on Thursday, January 23rd. Barclays boosted their price target on Ally Financial from $36.00 to $44.00 and gave the stock an "equal weight" rating in a report on Monday, January 6th. Finally, Wells Fargo & Company raised their price objective on shares of Ally Financial from $32.00 to $34.00 and gave the company an "underweight" rating in a report on Thursday, January 23rd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $42.41.

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Ally Financial Price Performance

Ally Financial stock traded down $0.23 during midday trading on Monday, reaching $31.76. The company's stock had a trading volume of 6,337,031 shares, compared to its average volume of 3,524,171. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.51. The stock has a market cap of $9.76 billion, a PE ratio of 12.22, a price-to-earnings-growth ratio of 0.32 and a beta of 1.12. Ally Financial has a 52 week low of $29.52 and a 52 week high of $45.46. The business has a 50-day moving average price of $35.75 and a 200-day moving average price of $36.29.

Ally Financial (NYSE:ALLY - Get Free Report) last posted its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.78 earnings per share for the quarter, beating analysts' consensus estimates of $0.57 by $0.21. The company had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.02 billion. Ally Financial had a net margin of 11.29% and a return on equity of 9.31%. The firm's quarterly revenue was up 3.6% compared to the same quarter last year. During the same period last year, the company posted $0.45 EPS. On average, sell-side analysts predict that Ally Financial will post 3.57 EPS for the current year.

Ally Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were issued a dividend of $0.30 per share. The ex-dividend date was Friday, January 31st. This represents a $1.20 dividend on an annualized basis and a yield of 3.78%. Ally Financial's payout ratio is currently 46.15%.

Insider Activity

In related news, CFO Russell E. Hutchinson acquired 19,100 shares of the company's stock in a transaction dated Friday, January 24th. The shares were purchased at an average price of $39.45 per share, for a total transaction of $753,495.00. Following the completion of the acquisition, the chief financial officer now owns 202,845 shares of the company's stock, valued at approximately $8,002,235.25. This trade represents a 10.39 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael George Rhodes acquired 25,634 shares of the business's stock in a transaction dated Monday, January 27th. The shares were bought at an average cost of $39.09 per share, for a total transaction of $1,002,033.06. Following the transaction, the chief executive officer now directly owns 25,634 shares in the company, valued at approximately $1,002,033.06. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.56% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Oak Thistle LLC acquired a new stake in shares of Ally Financial in the 4th quarter worth about $1,112,000. State Street Corp raised its position in Ally Financial by 0.5% in the third quarter. State Street Corp now owns 10,704,719 shares of the financial services provider's stock worth $380,981,000 after acquiring an additional 51,426 shares during the period. Wealthcare Advisory Partners LLC bought a new position in shares of Ally Financial during the 4th quarter worth $461,000. Franklin Resources Inc. grew its stake in Ally Financial by 184.7% in the 3rd quarter. Franklin Resources Inc. now owns 532,090 shares of the financial services provider's stock valued at $19,044,000 after buying an additional 345,210 shares in the last quarter. Finally, New York State Common Retirement Fund increased its position in shares of Ally Financial by 11.6% during the fourth quarter. New York State Common Retirement Fund now owns 189,643 shares of the financial services provider's stock valued at $6,829,000 after buying an additional 19,785 shares during the period. 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.