Ally Financial (ALLY) : The highest level Ally Financial (ALLY) is projected to reach is $28 for the short term and the lowest estimate is at $17. The consolidated price target from 7 rating analysts who initiate coverage on the stock is $23.43 and the possibility the share price can swing is $3.87.
Ally Financial (ALLY) stated gains of 740,661 shares or 5.4% in the short interest. The short interest registered from 13,788,621 on June 15,2016 to 14,529,282 on June 30,2016. In terms of floated shares, the shorted positions stood at 3.2%. The stock has been averaging 5,535,976 shares daily in trading and would need 3 days to cover the shorts. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 12th.
Also, Macquarie initiates coverage on Ally Financial (NYSE:ALLY). Macquarie has a Neutral rating on the shares. The rating by the firm was issued on May 11, 2016.
Ally Financial (NYSE:ALLY): stock turned positive on Thursday. Though the stock opened at $17.39, the bulls momentum made the stock top out at $17.47 level for the day. The stock recorded a low of $17.08 and closed the trading day at $17.18, in the green by 0.35%. The total traded volume for the day was 2,534,226. The stock had closed at $17.12 in the previous days trading.
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 Companys 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.