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ALLY $24.5   View long term graphs

Ally Financial Inc.
Type
Public company
Traded as NYSE: ALLY
Industry Financial services
Founded 1919; 98 years ago (1919) (as GMAC Inc.)
Headquarters Detroit, Michigan (Corporate)
Midvale, Utah (Ally Bank)
Key people
Franklin W. Hobbs, Chairman
Jeffrey J. Brown, CEO
Christopher A. Halmy, CFO
Services Car finance
Vehicle service contracts
Online banking
Mortgages
Credit cards
Brokerage firm
Revenue Increase $5.437 billion (2016)
Operating income
Increase $1.111 billion (2016)
Net income
Decrease $1.067 billion (2016)
Total assets Increase $163.728 billion (2016)
Total equity Decrease $13.317 billion (2016)
Owner Harris Associates (8.60%)
The Vanguard Group (8.50%)
BlackRock (5.10%)
Franklin Resources (4.30%)
JPMorgan Chase (3.85%)
Number of employees
7,600 (2016)
Website www.ally.com

Ally Financial Inc., formerly known as GMAC Inc. (an acronym for General Motors Acceptance Corporation) until 2009, is a bank holding company headquartered in Detroit, Michigan. The company provides financial services including auto financing, corporate financing, insurance, mortgages, stock brokerage, and online banking. Ally is one of the top auto lenders in the U.S. by volume and is on the list of largest banks in the United States.

The company was founded in 1919 by General Motors Corporation as the General Motors Acceptance Corporation (GMAC) to be a provider of financing to automotive customers. Original offices were located in Detroit, New York City, Chicago, San Francisco, and Toronto. Over the following decades the business expanded to include insurance, online banking, mortgage operations, and commercial finance.

In 1985, GMAC formed GMAC Mortgage and acquired Colonial Mortgage as well as the servicing arm of Norwest Mortgage. In 1999, GMAC Mortgage purchased Ditech Funding In 2005, the company formed Residential Capital (ResCap) as a holding company for its mortgage operations.

In 2006, General Motors Corporation sold a 51% interest in GMAC to Cerberus Capital Management, a private equity firm. Also that year, GMAC divested a controlling interest of GMAC Commercial Holdings, its real estate division, and Capmark Financial Group to Goldman Sachs, KKR and Five Mile Capital Partners. In 2009, Capmark filed for bankruptcy and its North American loan origination and servicing business was acquired by Berkadia, a joint venture of Leucadia and Berkshire Hathaway.

On December 24, 2008, the Federal Reserve accepted the company's application to become a bank holding company. As a result of losses in the company's former ResCap subsidiary, the United States Treasury invested $17.2 billion in the company in 2008-2009. The Treasury sold its last stake in the company in 2014, recovering $19.6 billion from its $17.2 billion investment.

On May 15, 2009, GMAC's banking unit changed its name to Ally Bank. In May 2010, GMAC re-branded itself as Ally Financial. In 2012, the company sold its Canadian banking operations to Royal Bank of Canada. The company became a public company via an initial public offering in April 2014. In 2015, it moved its headquarters to One Detroit Center, Michigan.

In June 2016, Ally acquired TradeKing, an online brokerage, which was rebranded as Ally Invest.

Along with Wells Fargo, Bank of America, Capital One, and JP Morgan Chase, Ally is one of the top bank auto lenders in the U.S. by volume. The company offers financial services, such as retail auto financing and leasing, dealer lines of credit, insurance coverage, and vehicle auction services. Customers included over 18,000 automotive dealerships and 4.4 million retail consumers.

The company owns SmartAuction, a platform for live auto auctions via a website and mobile app. More than 5 million vehicles have been sold since it launched in 2000 and 364,000 vehicles were sold in 2016.

Ally Auto sponsors the South Florida Auto Show. and the Time Magazine Quality Dealer Award.

Ally Bank is a direct bank with $66.6 billion in retail customer deposits. Ally Bank offers savings products, including certificates of deposit (CDs), online savings accounts, interest checking accounts, money market accounts, mortgages, and credit cards.

Ally Invest is an online discount brokerage firm. Investors can buy and sell such securities as stocks, exchange-traded funds, mutual funds, bonds, options, futures contracts, and currency trading on the foreign exchange market via its electronic trading platform. It also provides margin lending and managed portfolios.

The company's corporate finance division provides capital to businesses in various industries.

In December 2013, the Consumer Financial Protection Bureau (CFPB) announced a settlement with Ally Financial to resolve alleged discrimination in its indirect auto lending program. According to the consent order, Ally charged African American borrowers an average of 29 basis points more than similarly situated White borrowers, Hispanic borrowers 20 basis points more than White borrowers, and Asian/Pacific Islanders 22 basis points more than White borrowers. The CFPB concluded that these disparities were statistically significant, based on race, and not based on creditworthiness or objective criteria related to borrower risk. The CFPB also alleged that the higher markups resulted from Ally’s specific policy and practice of allowing dealers to mark up a consumer’s interest rate above Ally’s established buy rate and then compensating dealers based on the markup. Under the terms of the consent order, Ally was required to establish a compliance committee, submit a compliance plan to the CFPB and United States Department of Justice for review, and pay $80 million in consumer monetary damages and $18 million in civil penalties.

Q reports

Period Date Adjusted Actuals EPS GAAP EPS
Q3 2020 2020-10-14 Future report Set alerts
Q2 2020 2020-07-17 0.61 0.64
Q1 2020 2020-04-20 -0.44 -0.85
Q4 2019 2020-01-22 0.95 0.99
Q3 2019 2019-10-16 1.01 0.97
Q2 2019 2019-07-18 0.97 1.46
Q1 2019 2019-04-18 0.80 0.92
Q4 2018 2019-01-30 0.92 0.70
Q3 2018 2018-10-25 0.91 0.88
Q2 2018 2018-07-26 0.83 0.80

Ratings

2016-07-10 Reiterated Rating Barclays PLC Overweight $23.00
2016-07-05 Reiterated Rating Credit Suisse Group AG Outperform
2016-06-30 Reiterated Rating JPMorgan Chase & Co. Buy
2016-06-30 Reiterated Rating BTIG Research Buy
2016-06-26 Reiterated Rating Deutsche Bank Buy
2016-06-26 Reiterated Rating Deutsche Bank AG Buy
2016-06-15 Reiterated Rating Deutsche Bank Buy
2016-06-09 Reiterated Rating JPMorgan Chase & Co. Buy $27.00
2016-06-02 Reiterated Rating Deutsche Bank Buy
2016-05-22 Reiterated Rating Jefferies Group Buy $28.00
2016-05-18 Reiterated Rating Deutsche Bank Buy
2016-05-11 Initiated Coverage Macquarie Neutral $22.00
2016-05-04 Reiterated Rating Deutsche Bank Buy $27.00 to $23.00
2016-04-27 Reiterated Rating Jefferies Group Buy
2016-04-27 Reiterated Rating Drexel Hamilton Buy
2016-04-27 Reiterated Rating Morgan Stanley Buy
2016-04-27 Downgrade Wells Fargo Outperform to Market Perform
2016-04-27 Downgrade Wells Fargo & Co. Outperform to Market Perform
2016-04-18 Reiterated Rating Morgan Stanley Buy
2016-04-10 Reiterated Rating Deutsche Bank Buy
2016-04-08 Downgrade Bank of America Buy to Neutral
2016-04-08 Downgrade Bank of America Corp. Buy to Neutral
2016-04-07 Reiterated Rating Jefferies Group Buy $28.00
2016-04-07 Reiterated Rating Drexel Hamilton Buy $28.00
2016-03-24 Reiterated Rating Sanford C. Bernstein Outperform $29.00
2016-03-17 Reiterated Rating Credit Suisse Outperform $28.00
2016-03-17 Reiterated Rating Credit Suisse Group AG Outperform $28.00
2016-02-12 Reiterated Rating Deutsche Bank Buy
2016-02-11 Reiterated Rating Bank of America Buy
2016-02-03 Lower Price Target Keefe, Bruyette & Woods Outperform $28.00 to $24.00
2016-02-03 Lower Price Target Guggenheim Buy $24.00 to $23.00
2016-02-03 Reiterated Rating Compass Point Buy $26.00 to $22.00
2016-02-03 Boost Price Target BMO Capital Markets Outperform $24.00 to $25.00
2016-02-03 Lower Price Target Barclays Overweight $27.00 to $23.00
2016-02-03 Reiterated Rating BTIG Research Buy $32.00
2016-02-03 Lower Price Target Barclays PLC Overweight $27.00 to $23.00
2016-01-26 Reiterated Rating BTIG Research Buy $32.00
2016-01-13 Lower Price Target Goldman Sachs $27.00 to $26.00
2016-01-13 Lower Price Target Goldman Sachs Group Inc. $27.00 to $26.00
2016-01-07 Reiterated Rating BTIG Research Buy $32.00
2015-12-27 Upgrade Sandler O'Neill Buy
2015-12-21 Upgrade Sandler O'Neill Hold to Buy $21.00
2015-12-03 Reiterated Rating Keefe, Bruyette & Woods Outperform $30.00 to $28.00
2015-11-12 Reiterated Rating BTIG Research Buy $32.00
2015-11-02 Initiated Coverage BMO Capital Markets Market Perform
2015-11-01 Reiterated Rating BTIG Research Buy $32.00
2015-10-30 Lower Price Target JPMorgan Chase & Co. $32.00 to $30.00
2015-10-30 Lower Price Target BMO Capital Markets $25.00 to $24.00
2015-10-30 Lower Price Target Barclays Overweight $28.00 to $27.00
2015-10-30 Lower Price Target Sandler O'Neill $23.00 to $21.00
2015-10-19 Reiterated Rating BTIG Research Buy $32.00
2015-10-06 Reiterated Rating Deutsche Bank Buy
2015-10-05 Reiterated Rating Morgan Stanley Buy
2015-09-16 Upgrade BMO Capital Markets Market Perform to Outperform
2015-09-09 Reiterated Rating Jefferies Group Buy $28.00
2015-08-06 Boost Price Target Deutsche Bank Buy $24.00 to $27.00
2015-07-29 Upgrade Credit Suisse Neutral to Outperform $25.00 to $27.00
2015-07-24 Reiterated Rating BTIG Research Buy $32.00
2015-07-02 Reiterated Rating Sanford C. Bernstein Buy $29.00
2015-06-29 Initiated Coverage Guggenheim Buy to Buy $23.34
2015-06-17 Boost Price Target Goldman Sachs $23.00 to $27.00
2015-06-16 Upgrade Goldman Sachs Neutral to Buy $24.00 to $27.00
2015-05-27 Reiterated Rating Jefferies Group Buy $27.00
2015-05-13 Reiterated Rating Deutsche Bank Buy $24.00
2015-04-23 Reiterated Rating BTIG Research Buy $32.00
2015-04-07 Reiterated Rating Credit Suisse Neutral
2015-03-26 Initiated Coverage Compass Point Buy $25.00
2015-03-19 Reiterated Rating Deutsche Bank Buy $24.00
2015-03-12 Upgrade Evercore ISI Hold to Buy $24.00 to $25.00
2015-02-23 Reiterated Rating Morgan Stanley Buy
2015-02-12 Upgrade Sanford C. Bernstein Market Perform to Outperform $23.00 to $29.00
2015-02-11 Initiated Coverage BMO Capital Markets Market Perform
2015-02-05 Upgrade Bank of America Neutral to Buy $26.00
2015-02-04 Set Price Target Deutsche Bank Buy $26.00 to $23.00
2015-02-02 Lower Price Target Keefe, Bruyette & Woods Outperform $30.00 to $28.00
2015-01-30 Reiterated Rating Citigroup Inc. Buy $29.00 to $27.00
2015-01-30 Lower Price Target Morgan Stanley Overweight $30.00 to $27.00
2015-01-22 Reiterated Rating BTIG Research Buy $32.00
2015-01-06 Set Price Target BTIG Research Buy $32.00
2014-12-30 Initiated Coverage Jefferies Group Buy
2014-12-21 Reiterated Rating BTIG Research Buy $31.00
2014-12-17 Initiated Coverage Jefferies Group Buy $27.00
2014-11-18 Reiterated Rating Morgan Stanley Overweight $40.00
2014-10-30 Upgrade Deutsche Bank Hold to Buy $26.00
2014-09-26 Initiated Coverage Wells Fargo & Co. Outperform $27.00 to $28.00
2014-09-26 Initiated Coverage Wells Fargo Outperform $27.00 to $28.00
2014-09-16 Reiterated Rating Morgan Stanley Overweight $30.00
2014-09-03 Initiated Coverage Drexel Hamilton Buy
2014-07-16 Reiterated Rating Morgan Stanley Overweight $30.00
2014-05-21 Initiated Coverage Sanford C. Bernstein Market Perform $27.00
2014-05-20 Initiated Coverage Deutsche Bank Hold $26.00
2014-05-20 Initiated Coverage Sandler O'Neill Hold $26.00
2014-05-20 Initiated Coverage Bank of America Neutral $26.00
2014-05-20 Initiated Coverage Barclays Overweight $28.00
2014-05-20 Initiated Coverage Morgan Stanley Overweight $30.00
2014-05-20 Initiated Coverage Evercore ISI Equal Weight $26.00
2014-05-20 Initiated Coverage Credit Suisse Neutral $27.00
2014-05-20 Initiated Coverage Citigroup Inc. Buy $29.00
2014-05-20 Initiated Coverage JPMorgan Chase & Co. Overweight $30.00
2014-05-20 Initiated Coverage Keefe, Bruyette & Woods Outperform $30.00
2014-05-20 Initiated Coverage Goldman Sachs Neutral $26.00
2014-04-10 Initiated Coverage BTIG Research Buy $31.00
2016-07-10 Reiterated Rating Barclays PLC Overweight $23.00
2016-07-05 Reiterated Rating Credit Suisse Group AG Outperform
2016-06-30 Reiterated Rating JPMorgan Chase & Co. Buy
2016-06-30 Reiterated Rating BTIG Research Buy
2016-06-26 Reiterated Rating Deutsche Bank Buy

There is presents forecasts of rating agencies and recommendations for investors about this ticker

Major Shareholders

Name Relationship Total Shares Holding stocks
Brown Jeffrey Jonathan Sr Executive Vice President 0.15%  (710660) ALLY /
Halmy Christopher A Chief Financial Officer 0.06%  (269676) ALLY /
Morais Diane E. CEO & President, Ally Bank 0.05%  (253753) ALLY /
Russi Timothy M. President, Auto Finance 0.05%  (252469) ALLY /
DEBRUNNER DAVID J VP, CAO, Controller 0.03%  (158727) ALLY /
Shevsky David P Chief Risk Officer 0.03%  (131969) ALLY /
Gunn Brian M Chief Risk Officer 0.02%  (78147) ALLY /
Solomon William B Jr GVP and General Counsel 0.02%  (76643) ALLY /
Stengel Scott A General Counsel 0.02%  (72466) ALLY / UMBF /
HOBBS FRANKLIN W IV 0.01%  (56773) ALLY / TAP /
Breakiron-Evans Maureen 0.01%  (36377) ALLY / CTSH / CUB / HPY /
Clark Mayree C 0.01%  (36172) ALLY / TCO /
Stack John J 0.01%  (30439) ALLY /
MAGNER MARJORIE 0.01%  (28872) ACN / ALLY / GCI /
Fennebresque Kim S 0.01%  (26172) ALLY / BXC /
BLAKELY ROBERT T 0.01%  (26172) ALLY / GHL / NRP / WLK /
BACON KENNETH J 0.01%  (24397) ALLY / CMCSA / HCN /

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