Keefe, Bruyette & Woods Reaffirms “Buy” Rating for Ally Financial (ALLY)

Keefe, Bruyette & Woods reissued their buy rating on shares of Ally Financial (NYSE:ALLY) in a research report report published on Friday. They currently have a $35.00 price target on the financial services provider’s stock.

Several other equities analysts have also recently issued reports on the company. Piper Jaffray Companies reiterated a buy rating on shares of Ally Financial in a research note on Friday, September 1st. BMO Capital Markets reiterated a buy rating and issued a $26.00 price objective on shares of Ally Financial in a research note on Friday, August 25th. Zacks Investment Research upgraded Ally Financial from a hold rating to a buy rating and set a $26.00 price objective for the company in a research note on Tuesday, September 26th. Citigroup started coverage on Ally Financial in a research note on Monday, October 16th. They issued a buy rating and a $30.00 price objective for the company. Finally, Credit Suisse Group reiterated a buy rating and issued a $28.00 price objective on shares of Ally Financial in a research note on Wednesday, October 4th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Ally Financial presently has an average rating of Buy and a consensus price target of $28.69.

Ally Financial (NYSE:ALLY) opened at $29.25 on Friday. The firm has a market capitalization of $12,930.00, a PE ratio of 13.60, a price-to-earnings-growth ratio of 1.28 and a beta of 1.45. The company has a debt-to-equity ratio of 3.32, a current ratio of 1.21 and a quick ratio of 1.21. Ally Financial has a 52-week low of $18.11 and a 52-week high of $29.50.

Ally Financial (NYSE:ALLY) last released its earnings results on Wednesday, October 25th. The financial services provider reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.08. The company 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 period in the previous year, the company posted $0.56 EPS. equities research analysts anticipate that Ally Financial will post 2.27 earnings per share for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp lifted its stake in Ally Financial by 1.3% in the third quarter. Bank of New York Mellon Corp now owns 8,683,736 shares of the financial services provider’s stock valued at $210,668,000 after buying an additional 114,270 shares during the last quarter. Bank of Nova Scotia acquired a new position in shares of Ally Financial in the second quarter valued at approximately $2,262,000. Chicago Equity Partners LLC increased its holdings in shares of Ally Financial by 104.6% in the second quarter. Chicago Equity Partners LLC now owns 213,495 shares of the financial services provider’s stock valued at $4,462,000 after purchasing an additional 109,145 shares during the period. State Treasurer State of Michigan increased its holdings in shares of Ally Financial by 163.0% in the third quarter. State Treasurer State of Michigan now owns 3,762,933 shares of the financial services provider’s stock valued at $91,289,000 after purchasing an additional 2,331,967 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp increased its holdings in shares of Ally Financial by 6.4% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 940,837 shares of the financial services provider’s stock valued at $19,663,000 after purchasing an additional 56,337 shares during the period.

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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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