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.
Ally Financial recently highlighted Hiester Automotive Group's innovative response to the pandemic, restoring classic cars to keep mechanics employed. Owner John Hiester purchased over a dozen classic cars, ensuring steady work for staff during challenging times. The initiative not only supported employees but also raised funds for charity through an upcoming auction. In line with this, Ally will donate $25,000 to train future auto technicians, addressing the industry's demand for skilled workers. The project is documented in a new streaming series, showcasing the restoration process.
Ally Lending, a division of Ally Financial (NYSE: ALLY), has launched financing solutions for patients at Western Dental & Orthodontics to enhance access to dental care. This partnership, starting as a pilot in 43 locations, aims to alleviate financial barriers for patients seeking dental services amid limited insurance coverage. With a fully digital application process, patients can pre-qualify for loans without impacting their credit score. Ally Lending has been involved in dental financing since 2015 and aims to expand this service across all 326 Western Dental offices in the future.
Ally Financial will present at the Credit Suisse Virtual Financial Services Forum on February 26, 2021, at approximately 9:40-10:20 a.m. ET. CFO Jenn LaClair will represent the company during this session. A live video webcast will be available on their Investor Relations website. Ally Financial, a leading digital financial-services company with $182.2 billion in assets as of December 31, 2020, aims to provide innovative financial solutions and exceptional customer service.
On February 9, 2021, Rick DeSilva Jr., owner of Liberty Subaru in Emerson, New Jersey, was named the 2021 TIME Dealer of the Year at the NADA Show, sponsored by Ally Financial. DeSilva's community efforts during the pandemic and as vice president of the Mahwah Board of Education were highlighted. Ally will donate $10,000 to his chosen charity and $5,000 to each finalist's charity. DeSilva, selected from nearly 17,000 dealers, is recognized for his commitment to community service, education, and business leadership.
Ally Lending has partnered with Eargo to enhance financing options for consumers needing hearing aids. This collaboration aims to eliminate cost barriers, allowing more individuals access to Eargo's innovative hearing devices. Ally Lending reported a significant 75% year-over-year growth in loan origination for 2020. The partnership is positioned to address the financial challenges faced by Americans, particularly amid the pandemic, by offering easy online applications and low monthly payments. Eargo's hearing aids are designed to be virtually invisible and affordable, addressing major adoption challenges in the market.
Ally Financial reported its fourth quarter and full year 2020 results, highlighting significant metrics including $182.2 billion in assets as of December 31, 2020. The company, known for its customer-centric approach, offers a variety of financial services, including automotive financing and banking products. A conference call is scheduled for 9:00 a.m. ET on January 22, 2021, to discuss the performance. Investors can access insights via the Investor Relations website.
Ally Financial Inc. (NYSE: ALLY) announced a share repurchase authorization of up to $1.60 billion following favorable results from the Federal Reserve's stress tests in December 2020. The buyback is part of the company's capital allocation framework and will commence in Q1 2021, adhering to FRB's guidelines. Additionally, a quarterly dividend of $0.19 per share was declared, payable on February 12, 2021. Ally's CEO expressed confidence in the firm's robust financial position, highlighting excess capital relative to regulatory requirements.
Ally Financial Inc. (NYSE: ALLY) will release its fourth quarter and full year financial results on January 22, 2021, at 7:30 a.m. ET. The press release will be available via PR Newswire and on the Ally Press Room website. A conference call is scheduled for 9 a.m. ET to discuss the results, including a Q&A session. Interested parties may access the call by dialing 844-530-6677 or +1-508-637-5641 for international calls with conference ID 7948248. An archived replay will be available from noon ET on January 22 to midnight ET on January 29.
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