Ally Financial Inc (ALLY) is Downgraded by Wells Fargo to Market Perform

Ally Financial Inc (ALLY) was Downgraded by Wells Fargo to ” Market Perform”. Earlier the firm had a rating of “Outperform ” on the company shares. Wells Fargo advised their investors in a research report released on Apr 27, 2016.

Many Wall Street Analysts have commented on Ally Financial Inc. Ally Financial Inc was Downgraded by BofA/Merrill to ” Neutral” on Apr 8, 2016. Shares were Reiterated by Compass Point on Feb 3, 2016 to “Buy” and Lowered the Price Target to $ 22 from a previous price target of $26 .Shares were Reiterated by Barclays on Feb 3, 2016 to “Overweight” and Lowered the Price Target to $ 23 from a previous price target of $27 .

On the company’s financial health, Ally Financial Inc reported $0.52 EPS for the quarter, missing the analyst consensus estimate by $ -0.03 based on the information available during the earnings call on Apr 26, 2016. Analyst had a consensus of $0.55. The company had revenue of $964.00 million for the quarter, compared to analysts expectations of $1361.75 million. The company’s revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.52 EPS.

Ally Financial Inc opened for trading at $18.26 and hit $18.57 on the upside on Friday, eventually ending the session at $18.51, with a gain of 1.20% or 0.22 points. The heightened volatility saw the trading volume jump to 32,55,148 shares. Company has a market cap of $8,942 M.

In a different news, on Feb 29, 2016, Mayree C Clark (director) purchased 4,500 shares at $17.11 per share price. According to the SEC, on May 12, 2015, David J Debrunner (VP, CAO, Controller) sold 12,500 shares at $22.64 per share price.

Ally Financial Inc. is a financial holding company and a bank holding company. It is an independent diversified financial services firm. Its banking subsidiary Ally Bank is an indirect wholly owned subsidiary of the Company and a franchise in the Internet telephone mobile and mail banking market. Dealer Financial Services which includes the Company’s Automotive Finance and Insurance operations and Mortgage are its primary lines of business. Ally Bank offers deposit products such as checking savings and certificates of deposit (CDs) as well as several raise-your-rate CD terms IRA deposit products Popmoney person-to-person transfer service eCheck remote deposit capture Ally Perks debit rewards program and Mobile Banking.

Ally Financial Inc

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