ALLY Stock Up on Q4 Earnings Beat, Divestiture of Credit Card Business
Higher net finance revenues and lower expenses and provisions aid Ally Financial's Q4 earnings. The company announces the sale of its credit card business.
Ally Financial price target raised to $34 from $32 at Wells Fargo
Wells Fargo analyst Donald Fandetti raised the firm's price target on Ally Financial to $34 from $32 and keeps an Underweight rating on the shares. The firm notes the company restated results for an EV accounting change, creating noise in Q4. Auto credit performance improved, helping the 2025 NCO outlook beat. From a stock standpoint, higher rates remain a headwind, Wells adds.
Ally Financial Stock Surges as Company Beats Profit Estimates, Sells Credit Card Business
Ally Financial (ALLY) shares surged Wednesday after the financial firm posted fourth-quarter earnings and revenue that exceeded estimates as it cut costs, and announced it was selling its credit card business.
Ally Financial Inc. (ALLY) Q4 2024 Earnings Call Transcript
Ally Financial Inc. (NYSE:ALLY ) Q4 2024 Earnings Conference Call January 22, 2025 9:00 AM ET Company Participants Sean Leary - Head of IR Michael Rhodes - CEO Russ Hutchinson - CFO Conference Call Participants Ryan Nash - Goldman Sachs Sanjay Sakhrani - KBW Robert Wildhack - Autonomous Research Moshe Orenbuch - TD Cowen Mark DeVries - Deutsche Bank Operator Good day, and thank you for standing by. Welcome to the Fourth Quarter 2024 Ally Financial Earnings Conference Call.
Leading Indicators Data in Focus
Ahead of today's regular stock market trading session, pre-market futures are picking up where they left off Tuesday afternoon: higher. Continued optimism for a pro-growth Trump administration are sending major indexes to loftier reaches: the Dow is currently +145 points (+0.33%), the S&P 500 is +34 (+0.56%) and the Nasdaq +219 points (+1.01%).
Ally Financial (ALLY) Reports Q4 Earnings: What Key Metrics Have to Say
While the top- and bottom-line numbers for Ally Financial (ALLY) give a sense of how the business performed in the quarter ended December 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
Ally Sells $2.3 Billion Credit Card Business to CardWorks
Ally Financial has sold its credit card business to consumer finance company Cardworks. The deal, announced in a news release Wednesday (Jan. 22), will see CardWorks and its subsidiary Merrick Bank acquire Ally's credit card portfolio of $2.3 billion in credit card receivables and 1.3 million active cardholders.
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Ally Financial (ALLY) Beats Q4 Earnings Estimates
Ally Financial (ALLY) came out with quarterly earnings of $0.78 per share, beating the Zacks Consensus Estimate of $0.57 per share. This compares to earnings of $0.45 per share a year ago.
Consumer lender Ally Financial to sell credit card business to CardWorks
Consumer lender Ally Financial has agreed to sell its credit card business to credit and payments firm CardWorks, the companies said on Wednesday.
Is Ally Financial a Millionaire Maker?
Ally Financial (ALLY 3.38%) became a standalone company in 2014 when it was spun off from General Motors (GM 5.73%). This is actually pretty important because it speaks to Ally Financial's business model of making auto loans.
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