ALLY Stock Recent News

Ally Financial (ALLY 1.11%) has underperformed the market over the past year, with fears of rising defaults and demand concerns weighing on the bank's stock. However, the company just announced some big moves, and 2025 could be a major inflection point for this 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.

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 (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. (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.

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%).

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 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.

The new year can be a time to reevaluate your portfolio. Did you buy too many high-risk stocks that did poorly in 2024?

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.