Truist Financial Has Lowered Expectations for Ally Financial (NYSE:ALLY) Stock Price

Key Points

• Truist Financial lowered Ally Financial’s price target from $54 to $51 while maintaining a “buy” rating, implying roughly 13.66% upside from the prior close.
• Analyst sentiment remains broadly positive: 14 analysts rate the stock a Buy and two rate it a Hold, resulting in a “Moderate Buy” consensus and an average price target of $53.64.
• Ally reported quarterly revenue of $2.28 billion, above estimates, but earnings per share of $1.21 narrowly missed expectations; revenue increased 9.8% year over year.

Ally Financial (NYSE:ALLY - Get Free Report) had its price target dropped by equities researchers at Truist Financial from $54.00 to $51.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a "buy" rating on the financial services provider's stock. Truist Financial's target price points to a potential upside of 13.66% from the company's previous close.

Several other research firms also recently weighed in on ALLY. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $58.00 price target on shares of Ally Financial in a research note on Wednesday, July 22nd. Wall Street Zen cut Ally Financial from a "buy" rating to a "hold" rating in a research note on Monday, June 8th. Royal Bank Of Canada increased their target price on Ally Financial from $52.00 to $55.00 and gave the stock an "outperform" rating in a report on Friday, July 10th. The Goldman Sachs Group raised their target price on Ally Financial from $50.00 to $56.00 and gave the company a "buy" rating in a report on Monday, April 20th. Finally, Bank of America upped their target price on shares of Ally Financial from $52.00 to $53.00 and gave the stock a "buy" rating in a research note on Wednesday, July 8th. Fourteen investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $53.64.

Ally Financial Price Performance

Shares of ALLY traded up $0.80 during trading hours on Tuesday, reaching $44.87. The stock had a trading volume of 316,061 shares, compared to its average volume of 3,526,186. The company's 50-day moving average is $44.47 and its two-hundred day moving average is $42.51. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.92 and a current ratio of 0.92. Ally Financial has a 12 month low of $35.92 and a 12 month high of $47.29. The stock has a market capitalization of $13.65 billion, a PE ratio of 10.57, a PEG ratio of 0.27 and a beta of 1.10.

Ally Financial (NYSE:ALLY - Get Free Report) last issued its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $1.21 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 business had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.22 billion. During the same quarter last year, the firm posted $0.99 EPS. Ally Financial's revenue for the quarter was up 9.8% on a year-over-year basis. Research analysts expect that Ally Financial will post 5.19 EPS for the current year.

Insider Buying and Selling

In other Ally Financial news, insider Stephanie N. Richard sold 5,000 shares of the business's stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $42.14, for a total value of $210,700.00. Following the transaction, the insider directly owned 93,927 shares in the company, valued at $3,958,083.78. The trade was a 5.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.46% of the company's stock.

Institutional Investors Weigh In On Ally Financial

A number of hedge funds have recently modified their holdings of the stock. SJS Investment Consulting Inc. grew its holdings in Ally Financial by 30.8% during the 1st quarter. SJS Investment Consulting Inc. now owns 1,019 shares of the financial services provider's stock worth $40,000 after acquiring an additional 240 shares in the last quarter. Fifth Third Wealth Advisors LLC raised its position in Ally Financial by 3.1% during the first quarter. Fifth Third Wealth Advisors LLC now owns 8,010 shares of the financial services provider's stock valued at $314,000 after acquiring an additional 243 shares in the last quarter. Brown Brothers Harriman & Co. increased its holdings in Ally Financial by 31.5% in the fourth quarter. Brown Brothers Harriman & Co. now owns 1,052 shares of the financial services provider's stock valued at $48,000 after buying an additional 252 shares in the last quarter. Triumph Capital Management raised its position in shares of Ally Financial by 9.2% in the fourth quarter. Triumph Capital Management now owns 3,133 shares of the financial services provider's stock worth $142,000 after acquiring an additional 265 shares during the period. Finally, Larson Financial Group LLC grew its position in shares of Ally Financial by 25.0% during the 4th quarter. Larson Financial Group LLC now owns 1,340 shares of the financial services provider's stock valued at $61,000 after acquiring an additional 268 shares during the period. Institutional investors own 88.76% of the company's stock.

Ally Financial Company Profile

Ally Financial Inc is a leading digital financial services company headquartered in Detroit, Michigan. The company offers a comprehensive suite of banking, lending, and insurance products designed for retail and commercial customers. Through its online-only platform, Ally Bank provides checking and savings accounts, certificates of deposit, money market accounts, and home mortgages, emphasizing competitive rates and user-friendly mobile and web experiences.

In addition to its banking operations, Ally Financial is a major player in automotive financing and leasing.

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