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 Lending, a division of Ally Financial (NYSE: ALLY), has partnered with Sezzle to enhance retail market lending through installment payment solutions. This collaboration aims to meet the growing consumer demand for flexible payment options, as 81% of surveyed consumers expressed interest in using installment plans. Ally will offer a fully digital application process for loans up to $40,000, with repayment periods extending up to 60 months. This partnership is set to launch in Q1 2021, allowing consumers to manage purchases more effectively at over 10,000 merchants.
Ally Lending, the personal lending division of Ally Financial (NYSE: ALLY), has partnered with Mastercard's Vyze to offer point-of-sale retail financing. This partnership allows Ally to serve as the first installment loan lender on the Vyze platform, targeting higher-ticket sales. Recent data indicate that 74% of consumers find installment plans helpful for budgeting, while merchants see an average 32% increase in sales when offering such options. Ally will provide a digital application process for loans up to $40,000 with flexible repayment terms, enhancing customer choice in financing.
Ally Financial will present at the Barclays Global Financial Services Conference on September 15, 2020, from 9:45 to 10:25 a.m. ET. CFO Jennifer LaClair will lead the presentation, which will be available via a live audio webcast on their Investor Relations site. As of June 30, 2020, Ally Financial reported $184.1 billion in assets. The company offers a wide array of financial services, including automotive finance, online banking, and investment advice.
Ally Racing has launched a new online video game for NASCAR enthusiasts, allowing players to virtually drive the No. 48 Ally race car. The free game, featuring retro 8-bit graphics, can be accessed at www.allyracer.com. Players navigate obstacles while collecting financial rewards to boost scores in 60-90 second races across multiple tracks. The initiative aims to engage fans during the pandemic and expand interaction with Ally's brand. Notably, Ally Financial holds $184.1 billion in assets as of June 30, 2020, indicating its strong market position.
Ally Financial Inc. (NYSE: ALLY) released its Q2 2020 financial results, showcasing assets of $184.1 billion as of June 30, 2020. The company focuses on providing innovative financial solutions across various sectors, including automotive finance and banking services through Ally Bank. A conference call for discussing the results is scheduled for 9:00 a.m. ET on July 17, 2020. For more details, visit Ally's Investor Relations website.
The board of directors of Ally Financial (NYSE: ALLY) has declared a $0.19 quarterly cash dividend per share, payable on August 14, 2020. Shareholders of record as of July 31, 2020 will receive this dividend. As of March 31, 2020, Ally Financial reported $182.5 billion in assets, reflecting its position as a leading digital financial services company. Ally focuses on customer service and innovative solutions in automotive finance and banking products through Ally Bank.
Ally Financial Inc. (NYSE: ALLY) announced its Stress Capital Buffer (SCB) is set at 3.5%, as determined by the Federal Reserve following the 2020 Comprehensive Capital Analysis and Review. CEO Jeffrey J. Brown emphasized the company’s strong capital position and resilience, indicating confidence in long-term strategic priorities. The board intends to maintain the current common dividend for the third quarter, pending approval. As of March 31, 2020, Ally’s assets were $182.5 billion, highlighting its status as a leading digital financial services provider.
Ally Financial has announced its upcoming second quarter financial results will be released on July 17, 2020, at 7:30 a.m. ET. The press release will be available through PR Newswire and on Ally's Press Room website. A conference call to discuss the results will follow at 9:00 a.m. ET, with a question and answer session. Participants can dial 844-530-6677 (or +1-508-637-5641 for international calls) to join. A recorded replay of the call will be available after 12:00 p.m. ET on the same day until July 24.
On June 24, 2020, Cardholder Management Services, Inc. and Ally Financial Inc. announced the mutual termination of their previously agreed merger, originally disclosed on February 18, 2020. This decision, made by both boards, is a response to the economic challenges posed by the COVID-19 pandemic. Neither company will incur termination fees. CardWorks emphasizes its strong financial health and commitment to growth despite market uncertainties.
On June 24, 2020, Ally Financial (NYSE: ALLY) and Cardholder Management Services (CardWorks) mutually agreed to terminate their merger agreement announced on February 18, 2020. This decision was influenced by the significant impacts of COVID-19 on global markets and the economy. Both companies' boards approved the termination, with no fees incurred. CEO Jeffrey J. Brown emphasized the importance of prioritizing customer interests amid the pandemic and reaffirmed Ally's commitment to its long-term strategic priorities and robust financial position.
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