Goldman Sachs on Ally Financial (ALLY): 'shares do still represent good value for a long-term oriented investor'

Ally Financial (ALLY) PT Lowered to $40 at RBC Capital

September 12, 2024 6:24 AM EDT

RBC Capital analyst Jon Arfstrom lowered the price target on Ally Financial (NYSE: ALLY) to $40.00 (from $49.00) while maintaining a Outperform rating.

The analyst comments "We are adjusting estimates to reflect recent management commentary around near term margin and credit headwinds. Although... More

Ally Financial (ALLY) PT Lowered to $37 at BofA Securities, 'Sell-off overdone'

September 11, 2024 5:28 AM EDT

BofA Securities analyst Brandon Berman lowered the price target on Ally Financial (NYSE: ALLY) to $37.00 (from $46.00) while maintaining a Buy rating.

The analyst comments "It is clear by the ~20% decline in shares on Tuesday that ALLY had been priced for perfection (credit cresting +... More

Citi Reiterates Buy Rating on Ally Financial (ALLY)

September 11, 2024 5:02 AM EDT

Citi analyst Keith Horowitz reiterated a Buy rating and $50.00 price target on Ally Financial (NYSE: ALLY).

The analyst comments "ALLY shares fell 18% today after mgmt. provided an update on credit deterioration over the past six weeks and expected pressure on NIM... More

Ally Financial (ALLY) PT Lowered to $45 at Morgan Stanley

September 11, 2024 2:26 AM EDT

Morgan Stanley analyst Jeff Adelson lowered the price target on Ally Financial (NYSE: ALLY) to $45.00 (from $49.00) while maintaining a Overweight rating.... More

Ally Financial (ALLY) Shares Now Trading LOD, Down ~19% as Evercore Comments: 'Credit Stress Continues to Intensify & Exceed Expectations'

September 10, 2024 12:39 PM EDT

Evercore ISI analyst John Pancari reiterated an In Line rating and $47.00 price target on Ally Financial (NYSE: ALLY).

The analyst comments "NIM pressured n/tTo compress in 3Q24; uncertainty re: timing of targeted 4.0% NIM. Mgmt expects the 3Q24 NIM to decrease LQ vs. previous expectation of expansion into the lower end of the 5-15 bps range (we model +5 bps). Mgmt noted the updated forward curve is likely to drive near term NIM pressure. To this end, mgmt emphasized that ALLY is asset sensitive in a... More

Ally Financial (ALLY) Shares Remains Down ~17%, Barclays Comments 'Credit challenges have intensified QTD due weakening macro'

September 10, 2024 10:24 AM EDT

Barclays analyst Jason Goldberg reiterated an Equalweight rating and $44.00 price target on Ally Financial (NYSE: ALLY)

The analyst comments "Credit challenges have intensified QTD due weakening macro; 15% ROTCE target intact but will be longer to get there; Auto retail DQs and NCOs both... More

Ally Financial (ALLY) Bounce off LOD Following Conference Comments, Jefferies Says "estimate a 7% decline to annualized EPS"

September 10, 2024 10:02 AM EDT

Jefferies analyst John Hecht reiterated a Hold rating and $45.00 price target on Ally Financial (NYSE: ALLY).

The analyst comments "Per the latest industry conference, ALLY provided updates on its F3Q24 guide. Management now expects NIM to contract vs expand for F3Q24 driven by the anticipated interest rate cuts. In addition, ALLY noted credit challenges have intensified for retail auto due to high inflation and a weakening... More

Ally Financial (ALLY) Down ~16% Post Early Presentation at Barclays Conference, RBC Out With Negative Comments

September 10, 2024 9:50 AM EDT

Ally Financial (ALLY) Down ~16% Post Early Presentation at Barclays Conference, RBC Out With Negative Comments

The analyst comments "Credit headwinds impacting near-term performance. Management discussed credit trends and expects higher delinquencies and NCOs for 3Q due to some pressures on their 2023 vintage. Management mentioned that the 2023 vintage continues to outperform the 2022 vintage, but recent changes in unemployment and other consumer stresses are causing some near-term underperformance of the 2023 vintage. The company is not updating guidance at this point, but management suggested the quarter-end reserve rate could increase, and we would expect the formal guide for NCOs to increase as... More

Ally Financial (ALLY) Declines Following Presentation at Barclays

September 10, 2024 8:38 AM EDT

Ally Financial (NYSE: ALLY) Declines Following Presentation at Barclays

Shares Down 8%Ally Financial Inc. (NYSE: ALLY) Chief Financial Officer Russ Hutchinson will present at the Barclays Global Financial Services Conference on Tuesday, September 10, 2024 at approximately 8:15 a.m. ET.Company sees decline in NIM in Q3... More

Ally Financial (ALLY) Appoints Hope Mehlman as Chief Legal and Corporate Affairs Officer

September 9, 2024 9:01 AM EDT

Ally Financial Inc. (NYSE: ALLY) today announced Hope Mehlman will join the company as chief legal and corporate affairs officer, effective Dec. 2, 2024. Mehlman will lead a newly created Legal & Corporate Affairs Office which will oversee all regulatory and legal matters. She will have responsibility for the organization's legal, compliance, government relations, environmental sustainability and community reinvestment teams.

Mehlman brings more than 20 years of leadership... More