Ally Home Grant will be visible on the lender's home search portal; an industry-disruptive move enabled by HouseCanary to help make assistance more accessible – and homeownership more attainable – for more consumers CHARLOTTE, N.C., March 19, 2024 /PRNewswire/ -- Ally Financial Inc. (NYSE: ALLY) today announced that Ally Home, its residential mortgage lending arm of Ally Bank, will offer a $5,000 grant for eligible homebuyers in three major metro areas to apply toward downpayment, closing or other costs. To ...

In the past five years, the S&P 500, including dividends, produced a total return of about 100%. That's a very admirable result that investors who pick single stocks should try to outpace.Unfortunately, Ally Financial (ALLY 0.08%) has come up well short of this mark. If we include dividends, its shares have returned just 67% since March 2019. But the stock has surged 38% so far this year, so there appears to be a growing sense of optimism.Should investors buy, sell, or hold this bank stock? To provide some ...

CHARLOTTE, N.C., March 14, 2024 /PRNewswire/ -- The Charlotte Sports Foundation (CSF) and Ally Financial Inc. (NYSE: ALLY), a financial services company with the nation's largest all-digital bank and who has become a leading brand in women's sports, announced today the lineup for the 2024 Ally Tipoff. This year's event is scheduled for Sunday, November 10 at the Spectrum Center in Charlotte and will be a doubleheader, featuring #1 South Carolina taking on #11 NC State and a rematch of last year's game with ...

CHARLOTTE, N.C., March 13, 2024 /PRNewswire/ -- Ally Financial Inc. (NYSE: ALLY) has scheduled the release of its first quarter financial results for Thursday, April 18, 2024, at approximately 7:30 a.m. ET. The results will be available on the Ally Press Room website (http://media.ally.com). Ally will host a conference call at 9 a.m. ET to review the company's performance. You may listen to the call via webcast or dial-in. The webcast will be live on Ally's Investor Relations website in the Events & Present ...

 Women's Club to Embark on First US Trip, Starting This SummerDETROIT, March 11, 2024 /PRNewswire/ -- Ally Financial Inc. (NYSE: ALLY), a financial services company with the United States' largest all-digital bank and a leading brand in women's sports, today announced its historic sponsorship of Wrexham AFC Women to help bring the club to the U.S. for the first time this summer for the 2024 Wrex Coast Tour, with dates to be announced soon. Wrexham AFC Co-chairmen Ryan Reynolds and Rob McElhenney announce ...

New national media agreement, sponsorships signify Ally's intentional expansion into the WNBA, mark a milestone on its quest for media equityCHARLOTTE, N.C. and LAS VEGAS, March 5, 2024 /PRNewswire/ -- Ally Financial Inc. (NYSE: ALLY), a leading brand in women's sports, and the Las Vegas Aces, the reigning back-to-back WNBA Champions, today announced a new multi-year, multi-million-dollar deal. Among the terms of the agreement, Ally becomes the first-ever official retail banking partner of the Aces. Las ...

Ally Financial Inc. (ALLY) has completed the divestiture of its point-of-sale (POS) financing business – Ally Lending (that includes $2.2 billion of loan receivables as of Dec 31, 2023) – to Synchrony (SYF) . The move reflects ALLY's commitment to optimizing its capital allocation and prioritizing resources toward high-growth areas.The deal was announced in January. At that time, ALLY expected the divestiture to bolster its Common Equity Tier 1 (CET1) ratio by almost 15 basis points (bps) at closing. Furthe ...

Regional banks have been in the news once again following New York Community Bancorp's disappointing fourth-quarter results. One regional bank stock that has shaken off the news around bank stocks over the last year is Ally Financial (ALLY 0.58%).The volatility surrounding regional banks last year has impacted Ally Financial, but the stock has recovered nicely, gaining 77% since its March 2023 low. The bank stands to benefit from a pivot in the Federal Reserve's interest rate policy, but investors must also ...

Overview - Ally Financial has seen a stock price increase of over 46% since October 2023, with the current dividend yield at 3.3%, down from 4.6% [1] - The company operates primarily in digital financial services, focusing on auto lending, insurance, mortgage lending, and corporate finance [1] - Interest rate changes are expected to be a significant catalyst for Ally's performance in 2024, with a maintained Buy rating and anticipated price appreciation [1] Interest Rate Sensitivity - The Federal Reserve is expected to cut rates mid-year, which may lead to a dramatic price increase for Ally [3] - Ally's stock price has historically reacted inversely to interest rate changes, with price spikes during low rates and dips when rates rise [3] Financial Performance - Ally reported a revenue of $8.2 billion for 2023, a 22% increase from 2020, with an annual growth rate of approximately 7.4% [4] - Higher interest rates have led to increased interest income from loans, benefiting Ally's core business [4] - Retail deposits increased to $14 billion, a 48% year-over-year increase, with 92% of deposits being FDIC insured [5] Customer Retention and Demographics - Ally achieved a customer retention rate of 97% in the last quarter, with younger generations (Gen Z and Millennials) making up a significant portion of new deposits [5] - The Ally app facilitates the use of multiple services, enhancing customer engagement and retention [5] Earnings and Cost Management - Ally reported an EPS of $0.16 and total net revenue of $2.1 billion, while reducing Risk-Weighted Assets by $4 billion [6] - The company has implemented cost-saving measures, achieving $80 million in annual savings through staff reductions [6] Auto Segment Performance - Loan originations in the auto segment totaled $9.6 billion, a 10.81% increase from the previous year [7] - Retail auto originations yield 10.7%, with 40% of this volume coming from high credit quality borrowers [7] Dividend and Valuation - The current quarterly dividend is $0.30 per share, with a payout ratio of 39% and expectations for a potential increase by the end of the year [8] - Ally's dividend has grown over 75% since 2019, outperforming major banks [9] - A DCF calculation suggests a fair price value of $52.17 per share by the end of 2024, indicating a potential upside of about 43% [10] Risk Profile - Ally's loan-to-deposit ratio is currently at 98%, indicating efficient use of customer deposits for lending [12] - The company has improved its financial picture over the last decade, despite a higher loan-to-deposit ratio compared to the average for US banks [14] Conclusion - Ally Financial is still considered a buy, with strong growth prospects across its business segments, particularly in auto lending [15] - The company is well-positioned for future growth, with a conservative payout ratio and potential for dividend increases [15]

Wall Street's Top Investment Bank Loves 5 Big Dividend Stocks in 2024 Chris Hondros / Getty Images Every year, the top Wall Street firms release a list of their top stock picks for the coming 12 months, and typically, they are companies that the stock analysts have incredibly high conviction in. In addition, they often have good upside to the assigned price target and are bestowed with either a Buy or Overweight rating depending on the company providing the coverage. At 24/7 Wall St., we like to cover the ...