Ally Financial Inc (NYSE:ALLY) – Piper Sandler lifted their Q3 2020 earnings estimates for Ally Financial in a research report issued to clients and investors on Wednesday, September 23rd. Piper Sandler analyst K. Barker now expects that the financial services provider will earn $0.79 per share for the quarter, up from their previous forecast of $0.18. Piper Sandler has a “Overweight” rating and a $31.00 price target on the stock. Piper Sandler also issued estimates for Ally Financial’s Q4 2020 earnings at $0.61 EPS, FY2020 earnings at $1.55 EPS, Q1 2021 earnings at $0.29 EPS, Q2 2021 earnings at $0.52 EPS, Q3 2021 earnings at $0.99 EPS, Q4 2021 earnings at $1.06 EPS and FY2021 earnings at $2.86 EPS.
ALLY has been the topic of a number of other research reports. ValuEngine upgraded shares of Ally Financial from a “sell” rating to a “hold” rating in a research note on Thursday, July 2nd. Morgan Stanley boosted their price target on Ally Financial from $26.00 to $31.00 and gave the stock an “overweight” rating in a research report on Thursday, June 25th. JPMorgan Chase & Co. upgraded Ally Financial from a “neutral” rating to an “overweight” rating and set a $23.50 target price for the company in a report on Wednesday, July 15th. Goldman Sachs Group began coverage on Ally Financial in a research note on Tuesday, July 7th. They issued a “buy” rating on the stock. Finally, UBS Group increased their target price on Ally Financial from $27.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, July 29th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and fourteen have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $25.97.
Shares of ALLY stock opened at $23.57 on Friday. The stock’s 50-day moving average is $23.31 and its 200 day moving average is $19.22. Ally Financial has a 1-year low of $10.22 and a 1-year high of $34.05. The company has a market cap of $8.81 billion, a P/E ratio of 13.47 and a beta of 1.66. The company has a debt-to-equity ratio of 2.11, a current ratio of 0.99 and a quick ratio of 0.99.
Ally Financial (NYSE:ALLY) last issued its quarterly earnings results on Friday, July 17th. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.30. The company had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.47 billion. Ally Financial had a return on equity of 5.85% and a net margin of 10.87%. Ally Financial’s revenue was up 3.7% on a year-over-year basis. During the same period last year, the company earned $0.97 earnings per share.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. FMR LLC raised its position in Ally Financial by 129.3% in the first quarter. FMR LLC now owns 1,801,409 shares of the financial services provider’s stock worth $49,521,000 after purchasing an additional 1,015,634 shares in the last quarter. Oppenheimer & Co. Inc. boosted its holdings in Ally Financial by 65.9% in the first quarter. Oppenheimer & Co. Inc. now owns 15,501 shares of the financial services provider’s stock valued at $224,000 after acquiring an additional 6,158 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Ally Financial by 6.5% during the first quarter. PNC Financial Services Group Inc. now owns 16,571 shares of the financial services provider’s stock worth $238,000 after buying an additional 1,005 shares during the last quarter. Commerce Bank lifted its stake in Ally Financial by 94.1% in the first quarter. Commerce Bank now owns 15,187 shares of the financial services provider’s stock valued at $219,000 after buying an additional 7,363 shares during the period. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund raised its holdings in Ally Financial by 9.1% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 119,440 shares of the financial services provider’s stock worth $1,724,000 after purchasing an additional 10,000 shares during the period. Institutional investors own 92.35% of the company’s stock.
About Ally Financial
Ally Financial Inc provides various financial products and services to consumers, businesses, automotive dealers, and corporate customers primarily in the United States and Canada. It operates through Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations segments.
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