Welcome to our dedicated page for Ally Financial news (Ticker: ALLY), a resource for investors and traders seeking the latest updates and insights on Ally Financial stock.
Ally Financial Inc. (NYSE: ALLY) is a prominent digital financial services company and one of the top 25 U.S. financial holding companies. Established in 1919 and rebranded in 2009, Ally has since focused on delivering innovative financial solutions with a strong customer-centric approach. Ally's offerings span across consumer and business financial products, including award-winning online banking services through Ally Bank (Member FDIC), comprehensive auto financing, insurance, wealth management, and corporate finance.
The company is a leader in auto finance, holding one of the largest full-service auto finance operations in the U.S., alongside a robust auto-focused insurance business. Ally also offers a growing wealth management and brokerage platform, providing a wide range of investment services. The corporate finance division supports equity sponsors and middle-market companies with essential capital solutions.
Recent strategic moves include the acquisition of Ally Lending by Synchrony, enhancing its home improvement and health financing capabilities, alongside new national media and sponsorship agreements with the WNBA and Las Vegas Aces, reflecting Ally's commitment to media equity and women's sports.
Financially, Ally maintains a diverse loan portfolio with significant consumer and dealer auto loans, commercial loans, and mortgage debt holdings, positioning itself as a resilient and adaptable financial institution. With more than 11 million customers, Ally continues to prioritize technological advancements and customer satisfaction, striving to 'Do It Right' for its clients and communities alike.
On July 29, 2021, Ally Financial (NYSE: ALLY) announced that its Invest President Lule Demmissie will present at the 4th Annual Credit Suisse FinTech Conference on August 12, 2021, from 8:50 - 9:30 a.m. ET. A live video webcast of the event will be available on their Investor Relations website. Ally Financial continues to offer a range of digital financial services, including auto finance, banking, and investment advisory services, reinforcing its commitment to customer satisfaction.
Ally Home, part of Ally Bank, introduced RefiNow, a new refinancing option aimed at assisting low-income borrowers who face challenges in qualifying for conventional mortgage refinancing. This initiative allows eligible homeowners with Fannie Mae-backed mortgages to refinance their primary residence under favorable conditions, such as not requiring appraisal fees and allowing for a minimum monthly savings of $50. The program targets borrowers with incomes at or below 80% of the area median income, helping them benefit from low mortgage rates while promoting economic mobility.
Ally Financial Inc. (NYSE: ALLY) announced its second quarter 2021 financial results. The company continues to focus on providing comprehensive financial services, including auto finance, banking, and investment advisory. Key highlights include a steady performance in auto finance and digital banking. The results are set to be discussed during a conference call hosted by the company on July 20, 2021, at 9:00 a.m. ET, where analysts and investors can gain deeper insights into Ally's performance and future outlook.
Ally Financial is committing $250,000 to support unsponsored athletes competing in Tokyo, highlighting their stories to inspire support. The initiative aims to relieve essential costs, including training equipment and coaching fees. Award-winning filmmaker Daniele Anastasion directs the campaign featuring three athletes: cyclist Joshua Hartman, weightlifter Ceara Gray, and marathon runner Sarah Sellers. Ally's support addresses the financial struggles of athletes who train tirelessly without sponsorship, encouraging others to join the #TheUnsponsored movement and contribute to these athletes' journeys.
Ally Financial Inc. (NYSE: ALLY) has announced quarterly dividends for its Series B and Series C preferred stock. The board declared a $19.9 million dividend for Series B at $14.75 per share and a $9.5 million dividend for Series C at $9.53 per share. Both dividends are payable to shareholders of record as of July 31, 2021, on August 15, 2021. This move reflects the company’s commitment to returning income to its shareholders, showcasing strong financial management amidst competitive market conditions.
Ally Financial Inc. (NYSE: ALLY) has announced a $2.0 billion share repurchase program for 2021, replacing the earlier $1.6 billion authorization. Additionally, a quarterly cash dividend of $0.25 per share has been declared, marking a 32% increase from the previous dividend, payable on Aug. 16, 2021. CEO Jeffrey J. Brown emphasized the company's strong capital position and commitment to returning excess capital to shareholders while investing in growth opportunities. The repurchase will be subject to various market conditions and management discretion.
Habitat for Humanity of the Charlotte Region, Ally Charitable Foundation, and the City of Charlotte are launching a 40-home development at The Meadows at Plato Price, addressing the affordable housing shortage in West Charlotte. The $7.8 million project, backed by a $1 million investment from the Ally Charitable Foundation and matching funds from the city, aims to revitalize a historic Black neighborhood. Groundbreaking is set for September 2021, with completion expected by late 2024. This initiative aligns with National Homeownership Month, highlighting the importance of affordable housing.
On June 15, 2021, Ally Lending, a part of Ally Financial (NYSE: ALLY), announced its continued partnership with Ideal Image, enhancing consumer healthcare financing across over 150 locations in the U.S. In the past five years, applications from Ideal Image clients to Ally Lending surged thirteenfold. Ally Lending aims to offer accessible payment options as demand for cosmetic procedures rises, enabling clients to pursue wellness services without financial stress. The collaboration also includes marketing support and dedicated customer service to boost client retention.
Ally Financial Inc. (NYSE: ALLY) will release its second quarter 2021 financial results on July 20, 2021, at 7:30 a.m. ET. The press release will be available on the Ally Press Room website. A conference call to discuss the results is scheduled for 9 a.m. ET the same day, accessible by dialing 844-530-6677. Archived replays of the call will be available until July 27, 2021. Ally aims to provide comprehensive financial services, including auto finance, banking, corporate finance, and investment services.
On June 8, 2021, Ally Financial announced its collaboration with the University Growth Fund (UGF) to expand operations in Atlanta. This initiative aims to create opportunities in venture capital for Black and Brown students, addressing the lack of diversity in the field, currently at only 2%. The new UGF office will provide hands-on experiences in managing funds and executing investments. Ally has been a vital partner since UGF's inception, investing a total of $25 million and supporting scholarships. This expansion aligns with Ally's commitment to investing in underrepresented futures.
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