Investors might want to bet on Ally Financial (ALLY) , as it has been recently upgraded to a Zacks Rank #2 (Buy). This rating change essentially reflects an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the system.The p ...

It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors. Luckily, Zacks Premium offers several different ways to do both.Featuring daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, the research service can help you become a smarter, more self-assured investor.It also includes access to the Zacks Style Scores.What are th ...

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.Looking at the history of these trends, perhaps none is more beloved than value investing. This strategy simply looks to identify companies that are being undervalued by the broader market. Value investors use a variety of methods, including tried-a ...

– Financial Services Company Known for its Commitment to Media Equity Advances League's Effortsto Ensure Fans Have Access to Games With Advanced Media Spend –NEW YORK, July 19, 2024 /PRNewswire/ -- Today, professional women's basketball league Unrivaled announced its first and founding brand partner, Ally Financial, a full-scale financial services company with the nation's largest all-digital bank, as the official retail banking partner of the new and innovative league.Ally will show up in several visible w ...

Loading...Loading...Shares of Ally Financial Inc ALLY remained under pressure on Thursday, after declining in the prior session amid a broader downturn in Wall Street stocks.Ally Financial reported results amid an exciting earnings season. Here are some key analyst takeaways.RBC Capital Markets On Ally FinancialAnalyst Jon Arfstrom reiterated an Outperform rating, while lifting the price target from $46 to $49.Ally Financial announced earnings of 86 cents per share, amid higher electric vehicle originations ...

Ally Financial’s (ALLY) second-quarter 2024 adjusted earnings of 97 cents per share surpassed the Zacks Consensus Estimate of 62 cents. Also, the bottom line reflects a rise of 1% from the year-ago quarter.In the reported quarter, the company saw a marginal increase in loans. Also, the capital ratios increased, which was a positive. However, a decline in revenues and higher expenses were the undermining factors. Also, an increase in provisions hurt the results to some extent. Probably due to these negatives ...

Ally Financial reported Wednesday (July 17) that its net charge-offs (NCOs) in the second quarter rose in comparison to the same quarter a year earlier, due in part to losses from loans made when the price of cars peaked about two years ago.While its net charge-offs of $435 million were up from $399 million in the second quarter of 2023, they were lower than the $539 million reported in the first quarter, the company said in a presentation released Wednesday in conjunction with its quarterly earnings call.“ ...

JHVEPhoto Shares of Ally Financial Inc. (NYSE:ALLY) have been a strong performer over the past year, rising about 60% and sitting at a 52-week-high. However, shares did drop about 3% after reporting Q2 earnings on Wednesday morning. Results were solid, and this pullback likely reflects some profit-taking after a strong run. I last covered Ally in April, reiterating shares as a buy. Since then, they are up about 14%, just ahead of the market's gain. Still, shares are now firmly at my $42-45 targeted price ra ...

Financial Data and Key Metrics Changes - The second quarter adjusted EPS was $0.97, with revenue of $2 billion, reflecting solid financial results from consistent operational execution [19] - Net interest margin (NIM), excluding OID, was 3.3%, up 14 basis points quarter-over-quarter, driven by momentum on both sides of the balance sheet [19][27] - Net financing revenue, excluding OID, was $1.5 billion, lower year-over-year due to higher interest rates but up $40 million quarter-over-quarter [23] Business Line Data and Key Metrics Changes - In the auto segment, the company decisioned a Q2 record 3.7 million consumer auto applications and generated $9.8 billion of originations, with retail auto originated yields of 10.6% [20] - Insurance written premium was $344 million, up 15% year-over-year, driven by continued momentum in F&I and P&C products [21][47] - Corporate finance generated a record core pretax income of $98 million, with a 2Q ROE of 34% [49] Market Data and Key Metrics Changes - Deposits at Ally Bank were down quarter-over-quarter and flat for the year, in line with expectations for seasonal tax outflows, with 54,000 new customers added [21][29] - The company has a fully funded deposit portfolio of $142 billion, with 92% FDIC insured [29] - Retail auto net charge-offs were 181 basis points, down 46 basis points quarter-over-quarter, reflecting typical seasonality [34] Company Strategy and Development Direction - The company aims to leverage its broad dealer network to grow its leading position in the auto finance marketplace, focusing on comprehensive products and services for dealer partners [11][12] - The CEO emphasized the importance of executing existing plans while remaining open to optimizing capital usage without significant near-term shifts in strategy [58][65] - The company is committed to maintaining a strong culture centered around integrity, innovation, and customer obsession, which is seen as a key driver of success [10][19] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to grow earnings, with expectations for continued expansion in NIM and a solid financial trajectory [19][54] - The CEO highlighted the company's strong market position and the unique scale and expertise developed over the past decade [13][19] - Management expects retail auto net charge-offs to moderate in the second half of 2024, driven by the burn-off of the 2022 vintage [60][62] Other Important Information - The company recently closed its first credit risk transfer transaction, which had strong investor demand and led to strong pricing and execution [19][32] - The preliminary stress capital buffer is 2.6%, effective October 1, 2024, with a significant buffer above required minimums [20][30] - The company expects to exit 2024 with a NIM near 3.5% and aims for a 4% NIM run rate by the end of 2025 [27][51] Q&A Session Summary Question: Initial impressions of the company and strategy - The CEO expressed gratitude for inheriting a well-respected company and emphasized the importance of executing existing plans while remaining open to optimizing capital usage [56][58] Question: Credit performance and expectations - Management expects typical seasonal increases in net charge-offs but anticipates mitigation due to the burn-off of the 2022 vintage [59][60] Question: Strategy regarding diversification into card services - The CEO highlighted the attractiveness of the auto business ecosystem and the company's focus on areas where it has a competitive advantage [63][65] Question: Originated yield decline - The decline in originated yield was attributed to a mix shift rather than competitive pressures, with consistent pricing across credit tiers [66][67] Question: Year-over-year delinquency trends - Management clarified that the increase in delinquency rates was influenced by the day of the week the quarter ended and expects moderation going forward [68][70] Question: Outperformance of the 2023 vintage - The improvement in the 2023 vintage was attributed to both industry performance and tighter underwriting practices implemented by the company [74][78]

Ally Financial (ALLY) reported $2 billion in revenue for the quarter ended June 2024, representing a year-over-year decline of 3.8%. EPS of $0.97 for the same period compares to $0.96 a year ago.The reported revenue represents a surprise of -1.08% over the Zacks Consensus Estimate of $2.02 billion. With the consensus EPS estimate being $0.62, the EPS surprise was +56.45%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street ex ...