Worth Watching: What Next for Ally Financial Inc Stock After Today’s Big Decline?

Worth Watching: What Next for Ally Financial Inc Stock After Today's Big Decline?

The stock of Ally Financial Inc (NYSE:ALLY) is a huge mover today! The stock decreased 3.72% or $0.65 on November 8, hitting $16.84. About 11.48M shares traded hands or 154.55% up from the average. Ally Financial Inc (NYSE:ALLY) has risen 0.29% since April 6, 2016 and is uptrending. It has underperformed by 1.67% the S&P500.
The move comes after 5 months negative chart setup for the $8.09 billion company. It was reported on Nov, 8 by Barchart.com. We have $15.49 PT which if reached, will make NYSE:ALLY worth $647.20M less.

Ally Financial Inc (NYSE:ALLY) Ratings Coverage

Out of 12 analysts covering Ally Financial (NYSE:ALLY), 8 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 67% are positive. Ally Financial has been the topic of 16 analyst reports since July 29, 2015 according to StockzIntelligence Inc. The stock has “Buy” rating given by Zacks on Wednesday, September 2. The rating was maintained by Compass Point on Wednesday, February 3 with “Buy”. As per Friday, April 8, the company rating was downgraded by Bank of America. Credit Suisse upgraded the shares of ALLY in a report on Wednesday, July 29 to “Outperform” rating. Barclays Capital maintained the shares of ALLY in a report on Monday, November 2 with “Overweight” rating. Deutsche Bank maintained Ally Financial Inc (NYSE:ALLY) on Wednesday, May 4 with “Buy” rating. The firm earned “Outperform” rating on Wednesday, September 16 by BMO Capital Markets. As per Wednesday, May 11, the company rating was initiated by Macquarie Research. Wells Fargo downgraded the shares of ALLY in a report on Wednesday, April 27 to “Market Perform” rating.

According to Zacks Investment Research, “Ally Financial Inc. is an automotive financial services company. Its automotive services business offers a full suite of financing products and services, including new and used vehicle inventory and consumer financing, leasing, inventory insurance, commercial loans and vehicle remarketing services. The company, through its subsidiary, Ally Bank, offers savings and money market accounts, certificates of deposit, interest-bearing checking accounts, and individual retirement accounts; and online and mobile banking, electronic bill pay, remote deposits, electronic funds transfer, and ATM fee reimbursement services. Ally Financial Inc. is based in Detroit, Michigan.”

More news for Ally Financial Inc (NYSE:ALLY) were recently published by: Forbes.com, which released: “Ally Financial is Oversold” on October 31, 2016. Wsj.com‘s article titled: “Ally Financial’s Auto Lending Falls” and published on October 26, 2016 is yet another important article.

ALLY Company Profile

Ally Financial Inc., incorporated on February 21, 1997, is a financial holding firm and a bank holding company. The Company’s banking subsidiary, Ally Bank, is a franchise in the Internet, telephone, mobile and mail banking market. The Firm operates through three divisions: Automotive Finance operations, Insurance activities and Mortgage operations. The Company’s Automotive Finance activities segment provides automotive financing services to clients and automotive dealers. The Company’s Insurance activities segment offers both consumer financial and insurance products sold through the automotive dealer channel, and commercial insurance products sold to dealers. The Company’s Mortgage activities segment includes the management of its held-for-investment mortgage loan portfolio. The Company’s Corporate and Other segment consists of Corporate Finance, centralized corporate treasury activities, such as management of the cash and corporate investment securities portfolios, short- and long-term debt, retail and brokered deposit liabilities, derivative instruments, the amortization of the discount associated with debt issuances and bond exchanges, and the residual impacts of its corporate funds-transfer pricing (FTP) and treasury asset liability management (ALM) activities.

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