Bank of America Lowers Ally Financial (NYSE:ALLY) Price Target to $37.00

Ally Financial (NYSE:ALLY - Get Free Report) had its target price dropped by equities researchers at Bank of America from $46.00 to $37.00 in a report released on Wednesday, Benzinga reports. The firm currently has a "buy" rating on the financial services provider's stock. Bank of America's price target points to a potential upside of 12.58% from the company's current price.

A number of other analysts also recently commented on ALLY. Wells Fargo & Company increased their price target on Ally Financial from $33.00 to $37.00 and gave the company an "underweight" rating in a research report on Thursday, July 18th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Ally Financial from $51.00 to $50.00 and set a "buy" rating for the company in a research report on Monday, July 1st. Evercore ISI boosted their target price on shares of Ally Financial from $43.00 to $45.00 and gave the company an "in-line" rating in a research note on Tuesday, June 25th. Royal Bank of Canada raised their price target on shares of Ally Financial from $46.00 to $49.00 and gave the stock an "outperform" rating in a research note on Thursday, July 18th. Finally, JPMorgan Chase & Co. upgraded Ally Financial from an "underweight" rating to a "neutral" rating and upped their price objective for the company from $39.00 to $45.00 in a research note on Monday, July 8th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $42.65.

Ally Financial Stock Up 0.6 %

ALLY traded up $0.20 during midday trading on Wednesday, hitting $32.87. The company had a trading volume of 10,083,532 shares, compared to its average volume of 3,405,932. The stock's 50 day moving average price is $41.74 and its 200 day moving average price is $39.82. Ally Financial has a 52 week low of $22.54 and a 52 week high of $45.46. The company has a market capitalization of $9.99 billion, a price-to-earnings ratio of 13.20, a PEG ratio of 0.38 and a beta of 1.41. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 1.39.

Ally Financial (NYSE:ALLY - Get Free Report) last released its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.97 earnings per share for the quarter, beating analysts' consensus estimates of $0.64 by $0.33. The firm had revenue of $2 billion for the quarter, compared to analyst estimates of $2.03 billion. Ally Financial had a net margin of 10.26% and a return on equity of 8.37%. The business's quarterly revenue was down 3.8% compared to the same quarter last year. During the same period last year, the firm earned $0.96 earnings per share. On average, research analysts anticipate that Ally Financial will post 3.51 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ally Financial

Institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP increased its holdings in shares of Ally Financial by 11.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 9,697,795 shares of the financial services provider's stock worth $384,715,000 after buying an additional 987,489 shares during the last quarter. Boston Partners bought a new position in Ally Financial in the first quarter valued at $152,079,000. Bank of New York Mellon Corp raised its position in Ally Financial by 0.9% during the second quarter. Bank of New York Mellon Corp now owns 3,697,251 shares of the financial services provider's stock valued at $146,670,000 after purchasing an additional 31,491 shares in the last quarter. Donald Smith & CO. Inc. lifted its stake in Ally Financial by 0.8% during the first quarter. Donald Smith & CO. Inc. now owns 2,774,487 shares of the financial services provider's stock worth $112,616,000 after purchasing an additional 21,657 shares during the last quarter. Finally, Scout Investments Inc. purchased a new position in shares of Ally Financial in the 4th quarter worth about $63,080,000. 88.76% of the stock is currently owned by institutional investors.

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.