Royal Bank Of Canada Issues Pessimistic Forecast for Ally Financial (NYSE:ALLY) Stock Price

Ally Financial (NYSE:ALLY) had its target price reduced by equities research analysts at Royal Bank Of Canada from $55.00 to $50.00 in a research report issued on Friday, Benzinga reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Royal Bank Of Canada’s price objective indicates a potential upside of 33.53% from the stock’s current price.

Several other research firms have also commented on ALLY. Truist Financial dropped their target price on Ally Financial from $51.00 to $50.00 and set a “buy” rating on the stock in a report on Wednesday, September 23rd. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $58.00 price target on shares of Ally Financial in a report on Wednesday, July 22nd. Wells Fargo & Company cut shares of Ally Financial from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $55.00 to $42.00 in a research note on Wednesday, September 30th. TD Cowen cut their target price on shares of Ally Financial from $55.00 to $54.00 and set a “buy” rating for the company in a report on Tuesday. Finally, Bank of America boosted their target price on shares of Ally Financial from $52.00 to $53.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $51.07.

Ally Financial Price Performance

Shares of ALLY stock opened at $37.45 on Friday. Ally Financial has a fifty-two week low of $35.92 and a fifty-two week high of $47.29. The firm has a market capitalization of $11.39 billion, a price-to-earnings ratio of 8.88, a PEG ratio of 0.24 and a beta of 1.11. 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 stock’s 50-day simple moving average is $41.61 and its 200-day simple moving average is $42.76.

Ally Financial (NYSE:ALLY) last issued its earnings results on Tuesday, July 21st. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.01). Ally Financial had a return on equity of 11.75% and a net margin of 16.75%.The firm had revenue of $2.28 billion during the quarter, compared to analysts’ expectations of $2.22 billion. During the same quarter last year, the business earned $0.99 EPS. The business’s revenue was up 9.8% on a year-over-year basis. As a group, equities analysts forecast that Ally Financial will post 5.05 earnings per share for the current fiscal year.

Insider Buying and Selling at Ally Financial

In other Ally Financial news, insider Stephanie Richard sold 5,000 shares of the company’s stock in a transaction 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 in the company, valued at $3,933,241.21. This represents a 5.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.46% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Ally Financial

A number of hedge funds have recently modified their holdings of ALLY. GAMMA Investing LLC lifted its stake in Ally Financial by 10.6% during the 3rd quarter. GAMMA Investing LLC now owns 13,380 shares of the financial services provider’s stock worth $503,000 after acquiring an additional 1,283 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in Ally Financial by 3.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 9,247 shares of the financial services provider’s stock valued at $348,000 after acquiring an additional 282 shares during the period. Elevation Wealth Partners LLC increased its stake in Ally Financial by 92.2% during the third quarter. Elevation Wealth Partners LLC now owns 1,005 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 482 shares during the period. First Community Trust NA acquired a new stake in shares of Ally Financial during the third quarter worth about $50,000. Finally, Versant Capital Management Inc boosted its stake in shares of Ally Financial by 24.5% in the third quarter. Versant Capital Management Inc now owns 8,552 shares of the financial services provider’s stock valued at $322,000 after purchasing an additional 1,683 shares during the period. 88.76% of the stock is currently owned by hedge funds and other institutional investors.

Ally Financial Company Profile

Ally Financial Inc (NYSE:ALLY) is a digital financial-services company headquartered in Detroit, Michigan. Its principal businesses include automotive financing, consumer banking, commercial finance and other lending services, primarily serving customers and businesses in the United States.

Through Ally Auto, the company provides retail installment loans and leases for new and used vehicles, along with financing and related services for automotive dealers. Ally Bank offers online checking and savings accounts, money market accounts, certificates of deposit and other deposit products.