Market News

ALLY Surges after Better-than-Expected Q4 Results

Ally Financial (NYSE: ALLY) stock surged more than 8% in pre-market trading on Friday after the bank holding company reported better-than-expected Q4 results. The company reported Q4 revenues of $2.2 billion, flat year-over-year but surpassing Street estimates by $140 million.

Adjusted earnings came in at $1.08 per share beating analysts’ expectations of $0.97.

The company’s retail deposits grew quarter-over-quarter to $3.8 billion while its retail deposit customers increased to 85, 000 at the end of Q4. Consumer auto originations stood at $9.2 billion with an estimated auto retail auto originated yield of 9.57%, up 260 basis points year-over-year.

More importantly, ALLY’s insurance business swung to a profit in Q4 with a pre-tax insurance income of $101 million versus a loss of $30 million in the third quarter.

Analysts are sidelined about ALLY stock with a Hold consensus rating based on two Buys, five Holds, and three Sells.

Join our Webinar to learn how TipRanks promotes Wall Street transparency

Tired of arriving late to the Big Returns Party?​
Most investors don’t have major gainers like TSLA or NVDA on their radar from the start.
The profusion of opinions on social media and financial blogs makes it impossible to distinguish between real growth potential and pure hype.
​​For the past decade, we have developed and perfected technology designed to help private investors, just like you, find the best opportunities, with the greatest upside potential, in any financial climate.​
Learn More