JPMorgan Chase & Co. Boosts Ally Financial (NYSE:ALLY) Price Target to $43.00

Ally Financial (NYSE:ALLY) had its price target increased by equities researchers at JPMorgan Chase & Co. from $40.00 to $43.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 8.51% from the company’s previous close.

A number of other analysts have also recently issued reports on ALLY. Truist Financial started coverage on Ally Financial in a research report on Tuesday, January 7th. They set a “buy” rating and a $42.00 price objective on the stock. Jefferies Financial Group boosted their price target on Ally Financial from $35.00 to $40.00 and gave the company a “hold” rating in a research note on Thursday. Citigroup lifted their price objective on Ally Financial from $50.00 to $55.00 and gave the company a “buy” rating in a report on Friday, November 15th. Barclays lifted their price target on shares of Ally Financial from $36.00 to $44.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Finally, The Goldman Sachs Group raised their price objective on shares of Ally Financial from $42.00 to $48.00 and gave the stock a “buy” rating in a report on Thursday. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $43.47.

Ally Financial Stock Performance

NYSE:ALLY traded down $0.02 during mid-day trading on Thursday, hitting $39.63. 1,394,893 shares of the company’s stock traded hands, compared to its average volume of 3,898,682. Ally Financial has a 12 month low of $31.95 and a 12 month high of $45.46. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.36. The firm has a market capitalization of $12.08 billion, a price-to-earnings ratio of 15.85, a price-to-earnings-growth ratio of 0.40 and a beta of 1.44. The firm has a 50 day moving average of $36.92 and a two-hundred day moving average of $37.93.

Ally Financial (NYSE:ALLY) last posted its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.21. Ally Financial had a net margin of 10.84% and a return on equity of 8.39%. The company had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2,021,808.41 billion. During the same quarter in the previous year, the firm posted $0.45 EPS. The business’s revenue was up 3.6% compared to the same quarter last year. On average, equities analysts forecast that Ally Financial will post 2.96 earnings per share for the current fiscal year.

Institutional Trading of Ally Financial

A number of institutional investors have recently modified their holdings of the company. Janney Montgomery Scott LLC grew its stake in Ally Financial by 68.8% in the third quarter. Janney Montgomery Scott LLC now owns 68,986 shares of the financial services provider’s stock valued at $2,455,000 after purchasing an additional 28,114 shares in the last quarter. Oak Thistle LLC bought a new stake in Ally Financial during the fourth quarter worth $1,112,000. CWA Asset Management Group LLC acquired a new stake in Ally Financial in the third quarter valued at $1,338,000. Wealth Enhancement Advisory Services LLC grew its position in shares of Ally Financial by 58.7% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 50,466 shares of the financial services provider’s stock valued at $1,796,000 after acquiring an additional 18,671 shares during the period. Finally, Point72 Asset Management L.P. bought a new stake in shares of Ally Financial in the 3rd quarter valued at about $21,571,000. 88.76% of the stock is currently owned by institutional investors.

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.