Ally Financial (NYSE:ALLY) Given New $36.00 Price Target at Barclays

Ally Financial (NYSE:ALLY) had its target price lowered by Barclays from $44.00 to $36.00 in a research note published on Thursday morning, Benzinga reports. Barclays currently has an equal weight rating on the financial services provider’s stock.

Several other equities research analysts also recently issued reports on ALLY. BTIG Research assumed coverage on shares of Ally Financial in a research report on Friday, June 7th. They set a buy rating and a $51.00 price objective for the company. Keefe, Bruyette & Woods boosted their price target on Ally Financial from $45.00 to $48.00 and gave the stock an outperform rating in a research report on Monday, July 8th. Evercore ISI increased their price objective on shares of Ally Financial from $43.00 to $45.00 and gave the company an in-line rating in a research report on Tuesday, June 25th. Deutsche Bank Aktiengesellschaft lowered their target price on Ally Financial from $51.00 to $50.00 and set a buy rating on the stock in a research note on Monday, July 1st. Finally, Morgan Stanley dropped their price objective on shares of Ally Financial from $49.00 to $45.00 and set an overweight rating for the company in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Ally Financial presently has a consensus rating of Hold and a consensus price target of $41.65.

Ally Financial Stock Down 0.1 %

Shares of NYSE:ALLY opened at $32.85 on Thursday. The company has a 50 day moving average of $41.43 and a 200-day moving average of $39.73. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.92 and a quick ratio of 0.91. Ally Financial has a one year low of $22.54 and a one year high of $45.46. The stock has a market cap of $9.99 billion, a price-to-earnings ratio of 13.41, a P/E/G ratio of 0.38 and a beta of 1.41.

Ally Financial (NYSE:ALLY) last posted its earnings results on Wednesday, July 17th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.33. The company had revenue of $2 billion during the quarter, compared to analyst estimates of $2.03 billion. Ally Financial had a return on equity of 8.37% and a net margin of 10.26%. The company’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.96 EPS. On average, sell-side analysts forecast that Ally Financial will post 3.51 earnings per share for the current year.

Ally Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.65%. The ex-dividend date was Thursday, August 1st. Ally Financial’s payout ratio is 48.98%.

Institutional Trading of Ally Financial

A number of hedge funds have recently made changes to their positions in the company. Boston Partners bought a new position in Ally Financial during the 1st quarter worth $152,079,000. Scout Investments Inc. bought a new position in shares of Ally Financial in the fourth quarter valued at $63,080,000. Norges Bank acquired a new position in Ally Financial during the 4th quarter valued at about $62,869,000. Jennison Associates LLC purchased a new position in shares of Ally Financial during the first quarter valued at approximately $52,252,000. Finally, Delta Global Management LP boosted its holdings in Ally Financial by 3,262.3% during the 1st quarter. Delta Global Management LP now owns 1,035,994 shares of the financial services provider’s stock worth $42,051,000 after acquiring an additional 1,005,182 shares during the last quarter. 88.76% of the stock is owned by institutional investors and hedge funds.

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.