Wells Fargo & Company Initiates Coverage on Ally Financial (ALLY)

Investment analysts at Wells Fargo & Company initiated coverage on shares of Ally Financial (NYSE:ALLY) in a research report issued on Friday. The brokerage set an “outperform” rating and a $30.00 price target on the financial services provider’s stock. Wells Fargo & Company’s target price would suggest a potential upside of 10.09% from the company’s previous close.

ALLY has been the subject of a number of other research reports. Piper Jaffray Companies reiterated a “buy” rating on shares of Ally Financial in a report on Friday, September 1st. Barclays increased their price objective on Ally Financial from $24.00 to $26.00 and gave the stock an “overweight” rating in a report on Thursday, October 26th. BMO Capital Markets reiterated a “buy” rating and issued a $26.00 price objective on shares of Ally Financial in a report on Friday, October 6th. Credit Suisse Group reiterated a “buy” rating and issued a $28.00 price objective on shares of Ally Financial in a report on Wednesday, October 4th. Finally, Jefferies Group reiterated a “buy” rating on shares of Ally Financial in a report on Friday, September 29th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Ally Financial currently has a consensus rating of “Buy” and an average target price of $27.27.

Ally Financial (NYSE ALLY) opened at $27.25 on Friday. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 3.32. The stock has a market capitalization of $12,049.57, a price-to-earnings ratio of 12.11, a price-to-earnings-growth ratio of 2.40 and a beta of 1.46. Ally Financial has a twelve month low of $18.11 and a twelve month high of $27.42.

Ally Financial (NYSE:ALLY) last posted its quarterly earnings data on Wednesday, October 25th. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.08. The business had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.46 billion. Ally Financial had a return on equity of 7.72% and a net margin of 14.75%. During the same quarter in the prior year, the company earned $0.56 earnings per share. equities analysts forecast that Ally Financial will post 2.27 EPS for the current year.

Several large investors have recently modified their holdings of ALLY. Tiedemann Wealth Management LLC increased its holdings in shares of Ally Financial by 70.4% during the third quarter. Tiedemann Wealth Management LLC now owns 20,169 shares of the financial services provider’s stock valued at $110,000 after acquiring an additional 8,332 shares in the last quarter. Toronto Dominion Bank increased its holdings in shares of Ally Financial by 23.0% during the second quarter. Toronto Dominion Bank now owns 5,714 shares of the financial services provider’s stock valued at $119,000 after acquiring an additional 1,070 shares in the last quarter. Capital Management Associates NY bought a new position in shares of Ally Financial during the third quarter valued at $203,000. Capstone Asset Management Co. bought a new position in shares of Ally Financial during the second quarter valued at $208,000. Finally, Twin Tree Management LP bought a new position in shares of Ally Financial during the second quarter valued at $215,000.

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About Ally Financial

Ally Financial Inc is a digital financial services company. The Company is a bank and financial holding company. Its segments include Automotive Finance operations, Insurance operations, Mortgage Finance operations, Corporate Finance operations, and Corporate and Other. The Automotive Finance operations segment provides the United States-based automotive financing services to consumers and automotive dealers, and automotive and equipment financing services to companies and municipalities.

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