Ally Financial Stock Surges

Ally Financial Stock Surges as Company Beats Profit Estimates, Sells Credit Card Business
Key Takeaways Ally Financial posted fourth-quarter earnings and revenue that topped estimates as it reduced expenses.CEO Michael Rhodes said Ally "took significant action" in the quarter to improve its finances.
Ally steers back to auto after brief credit card venture
The auto lender is selling its credit card business and halting new mortgage loans, abandoning its once-broader ambitions. Ally CEO touted the move as "the power of focus."
Ally Financial offloads credit card business, $2.3B loan portfolio
CardWorks agreed to buy the business, including a $2.3 billion credit-card loan portfolio with 1.3 million active cardholders as of the end of last year, Ally said. Additional terms of the deal weren’t disclosed in a Wednesday statement, but Ally paid around $750 million for the business in 2021. Bloomberg reported on the pending sale in November.
Consumer lender Ally Financial to sell credit card business to CardWorks
(Reuters) -Consumer lender Ally Financial has agreed to sell its credit card business to credit and payments firm CardWorks, the companies said on Wednesday. Shares of Ally jumped 8.6% in premarket trading.
Ally Financial stock surges after strong Q4 results, agreement to sell card business
Ally Financial (ALLY) stock jumped 8.6%in Wednesday premarket trading after the lender posted stronger-than-expected Q4 results and announced an agreement to sell its card business.
Ally to sell credit card business to CardWorks
Plans for the sale were hinted at earlier this year, a month after the CEO said the business wasn’t within Ally’s core focus.
Ally Offloads Credit-Card Business, $2.3 Billion Loan Portfolio
Ally Financial Inc. reached a deal to offload its credit-card unit to CardWorks Inc., bowing out of a business it entered just over three years ago.
Ally Financial to sell credit card business
Ally Financial Inc. (NYSE: ALLY) has entered into an agreement to sell its credit card division to CardWorks Inc., along with its subsidiary, Merrick Bank.
Ally drops credit card business, posts quarterly profit
Auto lender Ally Financial said Wednesday that it's officially ending its foray into credit cards under a broader restructuring, even as credit issues in its flagship auto loan business showed signs of waning.
Ally Financial divests credit card business to CardWorks
This move aligns with Ally's mission to focus on its core services, including approximately 10 million customers in banking, brokerage, and auto financing. CardWorks, with its 38-year history in credit and payments,
Ally and CardWorks Reach Agreement on Sale of Ally's Credit Card Business
Ally Financial Inc. (NYSE:?ALLY) and CardWorks, Inc. today announced that they have entered into a definitive agreement for CardWorks, and its wholly-owned bank subsidiary, Merrick Bank, to acquire Ally's credit card business,
Is Ally Financial a Millionaire Maker?
Ally Financial is largely an auto lender, created when the business was spun off from General Motors. The company carries an ...
Ally Financial’s Challenges: Interest Rate Impact and Limited Upside Potential Lead to Sell Rating
Wells Fargo analyst Donald Fandetti maintained a Sell rating on Ally Financial (ALLY – Research Report) yesterday and set a price target of ...
Forecasting The Future: 8 Analyst Projections For Ally Financial
In the latest quarter, 8 analysts provided ratings for Ally Financial ALLY, showcasing a mix of bullish and bearish perspectives. The table below summarizes their recent ratings, showcasing the ...
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Ally Financial Stock Soars Pre-Market As Q4 Net Income More Than Doubles: Retail’s Exuberant
Shares of Ally Financial Inc (ALLY) soared over 9% in Wednesday’s pre-market session after the company’s fourth-quarter ...
Ally Financial (ALLY) Receives a Rating Update from a Top Analyst
KBW analyst Sanjay Sakhrani maintained a Buy rating on Ally Financial (ALLY – Research Report) today and set a price target of $56.00. The ...
Is Ally Financial Inc. (ALLY) Among Billionaire Louis Bacon’s Long-Term Stock Picks?
We recently published a list of Billionaire Louis Bacon’s Top 10 Long-Term Stock Picks. In this article, we are going to take ...
WaFd Bank joins exile from residential mortgage business
The Seattle-based bank will close up shop on originations by mid-March, concluding more than 100 years in the industry.
Ally Financial (ALLY) Gets a Buy from Truist Financial
In a report released today, Brian Foran from Truist Financial maintained a Buy rating on Ally Financial (ALLY – Research Report). The company’s ...