Ally Financial Inc. (NYSE:ALLY) was upgraded by TheStreet from a “c” rating to a “b-” rating in a report issued on Wednesday.

Several other research firms have also commented on ALLY. BidaskClub lowered Ally Financial from a “buy” rating to a “hold” rating in a research report on Sunday. Stephens lowered Ally Financial from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $23.00 to $20.00 in a research report on Monday, July 17th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $24.00 price target on shares of Ally Financial in a research report on Tuesday, July 4th. Credit Suisse Group reduced their price target on Ally Financial from $27.00 to $26.00 and set an “outperform” rating for the company in a research report on Wednesday, March 22nd. Finally, BMO Capital Markets reissued a “buy” rating and issued a $26.00 price target on shares of Ally Financial in a research report on Tuesday, April 25th. One research analyst has rated the stock with a sell rating, five have given a hold rating and eleven have assigned a buy rating to the stock. Ally Financial currently has an average rating of “Buy” and a consensus target price of $24.62.

Ally Financial (NYSE:ALLY) traded up 1.86% during midday trading on Wednesday, hitting $21.93. The stock had a trading volume of 5,237,810 shares. The stock has a market cap of $10.52 billion, a PE ratio of 10.31 and a beta of 1.39. Ally Financial has a 52-week low of $16.68 and a 52-week high of $23.62. The company’s 50 day moving average price is $20.43 and its 200-day moving average price is $20.49.

Ally Financial (NYSE:ALLY) last released its quarterly earnings results on Thursday, April 27th. The financial services provider reported $0.48 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by $0.01. The company had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.39 billion. Ally Financial had a return on equity of 7.63% and a net margin of 15.68%. During the same period in the previous year, the firm posted $0.52 earnings per share. Analysts forecast that Ally Financial will post $2.25 EPS for the current fiscal year.

Ally Financial announced that its board has authorized a stock buyback plan on Wednesday, June 28th that permits the company to buyback $760.00 million in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 7.5% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

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A number of hedge funds have recently bought and sold shares of the stock. Wetherby Asset Management Inc. increased its stake in shares of Ally Financial by 1.0% in the first quarter. Wetherby Asset Management Inc. now owns 12,191 shares of the financial services provider’s stock worth $248,000 after buying an additional 122 shares during the last quarter. TD Asset Management Inc. increased its stake in shares of Ally Financial by 0.8% in the first quarter. TD Asset Management Inc. now owns 25,598 shares of the financial services provider’s stock worth $520,000 after buying an additional 200 shares during the last quarter. Skandinaviska Enskilda Banken AB publ increased its stake in shares of Ally Financial by 0.5% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 64,238 shares of the financial services provider’s stock worth $1,306,000 after buying an additional 300 shares during the last quarter. Pacer Advisors Inc. increased its stake in shares of Ally Financial by 3.2% in the first quarter. Pacer Advisors Inc. now owns 10,728 shares of the financial services provider’s stock worth $218,000 after buying an additional 328 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd increased its stake in shares of Ally Financial by 3.2% in the first quarter. Dynamic Technology Lab Private Ltd now owns 14,541 shares of the financial services provider’s stock worth $295,000 after buying an additional 446 shares during the last quarter. Institutional investors and hedge funds own 98.81% of the company’s stock.

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.

Analyst Recommendations for Ally Financial (NYSE:ALLY)

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