Truist Financial Forecasts Strong Price Appreciation for Ally Financial (NYSE:ALLY) Stock

Ally Financial (NYSE:ALLY - Get Free Report) had its price target increased by research analysts at Truist Financial from $41.00 to $44.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the financial services provider's stock. Truist Financial's target price would suggest a potential upside of 22.26% from the stock's current price.

A number of other research analysts have also weighed in on the stock. Wells Fargo & Company decreased their target price on shares of Ally Financial from $34.00 to $32.00 and set an "underweight" rating on the stock in a research note on Monday, April 21st. Bank of America decreased their target price on shares of Ally Financial from $42.00 to $38.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. Compass Point raised shares of Ally Financial from a "neutral" rating to a "buy" rating and raised their target price for the stock from $37.00 to $41.00 in a research note on Monday, April 7th. The Goldman Sachs Group raised their price target on shares of Ally Financial from $45.00 to $50.00 and gave the stock a "buy" rating in a report on Tuesday, April 1st. Finally, JPMorgan Chase & Co. decreased their price objective on Ally Financial from $43.00 to $36.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $41.88.

Ally Financial Price Performance

ALLY stock traded down $0.80 during trading on Friday, hitting $35.99. The stock had a trading volume of 2,836,438 shares, compared to its average volume of 3,758,410. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.93 and a quick ratio of 0.93. Ally Financial has a twelve month low of $29.52 and a twelve month high of $45.46. The stock has a market capitalization of $11.06 billion, a P/E ratio of 13.84, a PEG ratio of 0.32 and a beta of 1.14. The company's 50-day moving average price is $34.02 and its two-hundred day moving average price is $35.80.

Ally Financial (NYSE:ALLY - Get Free Report) last released its earnings results on Thursday, April 17th. The financial services provider reported $0.58 earnings per share for the quarter, topping analysts' consensus estimates of $0.43 by $0.15. Ally Financial had a net margin of 11.29% and a return on equity of 9.31%. The business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $2.04 billion. During the same period last year, the company posted $0.45 EPS. As a group, research analysts predict that Ally Financial will post 3.57 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Russell E. Hutchinson acquired 8,200 shares of the firm's stock in a transaction on Tuesday, April 22nd. The stock was bought at an average price of $30.81 per share, for a total transaction of $252,642.00. Following the completion of the purchase, the chief financial officer now directly owns 236,421 shares of the company's stock, valued at approximately $7,284,131.01. The trade was a 3.59% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Stephanie N. Richard sold 8,000 shares of the company's stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $32.14, for a total transaction of $257,120.00. Following the completion of the transaction, the insider now owns 90,387 shares of the company's stock, valued at $2,905,038.18. This represents a 8.13% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.67% of the company's stock.

Institutional Investors Weigh In On Ally Financial

Several hedge funds have recently made changes to their positions in the business. Tidal Investments LLC boosted its stake in shares of Ally Financial by 1.1% during the fourth quarter. Tidal Investments LLC now owns 26,279 shares of the financial services provider's stock worth $946,000 after buying an additional 280 shares during the period. EP Wealth Advisors LLC raised its holdings in Ally Financial by 4.9% during the fourth quarter. EP Wealth Advisors LLC now owns 6,367 shares of the financial services provider's stock worth $229,000 after purchasing an additional 297 shares in the last quarter. Integrated Wealth Concepts LLC raised its holdings in Ally Financial by 0.7% during the first quarter. Integrated Wealth Concepts LLC now owns 40,363 shares of the financial services provider's stock worth $1,472,000 after purchasing an additional 300 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its holdings in Ally Financial by 2.1% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 15,332 shares of the financial services provider's stock worth $552,000 after purchasing an additional 320 shares in the last quarter. Finally, Signet Financial Management LLC raised its holdings in Ally Financial by 5.6% during the first quarter. Signet Financial Management LLC now owns 6,724 shares of the financial services provider's stock worth $245,000 after purchasing an additional 357 shares in the last quarter. Institutional investors and hedge funds own 88.76% of the company's stock.

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.