Welcome to our dedicated page for Ally Finl news (Ticker: ALLY), a resource for investors and traders seeking the latest updates and insights on Ally Finl stock.
Ally Financial Inc. (NYSE: ALLY) is a financial services company known for operating the nation’s largest all-digital bank and an auto financing business it describes as industry-leading. The news flow around Ally reflects its role in commercial banking, auto finance and insurance, brokerage and investment advisory services, and corporate finance for equity sponsors and middle-market companies.
News about Ally often covers quarterly and annual financial results, including preliminary operating results, detailed earnings releases, and supplemental financial data. These updates are typically accompanied by investor presentations and conference calls where management reviews performance and answers analyst questions. Ally also announces events such as presentations at financial services and banking conferences, where executives discuss the company’s strategy and outlook with the investment community.
Capital management actions are another recurring news theme. Ally has announced a multi-year share repurchase authorization of up to $2.0 billion of its common stock and regularly discloses quarterly cash dividends on its common stock and preferred stock series. Such announcements provide insight into how the company manages capital, balances shareholder returns, and responds to market conditions.
Ally-related news also highlights governance and leadership developments, including appointments and retirements of directors and certain officers. These updates illustrate board refreshment and changes in key finance and accounting roles. In addition, Ally issues news on community and financial wellness initiatives, such as the Moguls in the Making entrepreneurial pitch competition with the Thurgood Marshall College Fund and research like the Cost of Fandom report, which explores consumer spending behavior and ties into Ally Bank’s money wellness messaging.
Investors and observers who follow ALLY news can use this page to track earnings announcements, capital actions, governance changes, conference appearances, and community-focused programs that shape the company’s profile in the financial services sector.
Ally Financial Inc. (NYSE: ALLY) has announced a $2.0 billion share repurchase program for 2021, replacing the earlier $1.6 billion authorization. Additionally, a quarterly cash dividend of $0.25 per share has been declared, marking a 32% increase from the previous dividend, payable on Aug. 16, 2021. CEO Jeffrey J. Brown emphasized the company's strong capital position and commitment to returning excess capital to shareholders while investing in growth opportunities. The repurchase will be subject to various market conditions and management discretion.
Habitat for Humanity of the Charlotte Region, Ally Charitable Foundation, and the City of Charlotte are launching a 40-home development at The Meadows at Plato Price, addressing the affordable housing shortage in West Charlotte. The $7.8 million project, backed by a $1 million investment from the Ally Charitable Foundation and matching funds from the city, aims to revitalize a historic Black neighborhood. Groundbreaking is set for September 2021, with completion expected by late 2024. This initiative aligns with National Homeownership Month, highlighting the importance of affordable housing.
On June 15, 2021, Ally Lending, a part of Ally Financial (NYSE: ALLY), announced its continued partnership with Ideal Image, enhancing consumer healthcare financing across over 150 locations in the U.S. In the past five years, applications from Ideal Image clients to Ally Lending surged thirteenfold. Ally Lending aims to offer accessible payment options as demand for cosmetic procedures rises, enabling clients to pursue wellness services without financial stress. The collaboration also includes marketing support and dedicated customer service to boost client retention.
Ally Financial Inc. (NYSE: ALLY) will release its second quarter 2021 financial results on July 20, 2021, at 7:30 a.m. ET. The press release will be available on the Ally Press Room website. A conference call to discuss the results is scheduled for 9 a.m. ET the same day, accessible by dialing 844-530-6677. Archived replays of the call will be available until July 27, 2021. Ally aims to provide comprehensive financial services, including auto finance, banking, corporate finance, and investment services.
On June 8, 2021, Ally Financial announced its collaboration with the University Growth Fund (UGF) to expand operations in Atlanta. This initiative aims to create opportunities in venture capital for Black and Brown students, addressing the lack of diversity in the field, currently at only 2%. The new UGF office will provide hands-on experiences in managing funds and executing investments. Ally has been a vital partner since UGF's inception, investing a total of $25 million and supporting scholarships. This expansion aligns with Ally's commitment to investing in underrepresented futures.
Ally Financial Inc. announced that its subsidiary, GMAC Capital Trust I, is redeeming approximately 84.467% of its outstanding 8.125% Fixed Rate/Floating Rate Trust Preferred Securities and Common Securities, totaling 41.6 million and 1.248 million units, respectively, at a par price of $25.00 per unit. Concurrently, 42.848 million units of Junior Subordinated Debentures due 2040 will also be redeemed. The redemption date is set for July 2, 2021. After this date, no interest or distributions will accrue on the redeemed securities.
Ally Bank, a leading digital bank and part of Ally Financial (NYSE: ALLY), has announced the elimination of overdraft fees across all accounts, effective immediately. This policy aims to support financially vulnerable customers, with CEO Jeffrey Brown highlighting that over 80% of overdraft fees are paid by those living paycheck to paycheck. In 2020, consumers faced a staggering $12.4 billion in overdraft fees, predominantly affecting low-income households. Ally has a history of promoting customer-friendly practices with no minimum balance requirements, no monthly maintenance fees, and access to over 43,000 ATMs nationwide.
Ally Financial Inc. (NYSE: ALLY) announced that Doug Timmerman, President of Auto Finance, will present at the Morgan Stanley Virtual Financials, Payments & CRE Conference on June 16, 2021. The presentation is scheduled from 10:15 to 10:50 a.m. ET. A live video webcast will be accessible on Ally's Investor Relations website, with a replay available post-event. As of March 31, 2021, Ally holds $181.9 billion in assets and is a significant player in automotive finance and digital financial services.
Sezzle Inc. has officially launched long-term financing options in collaboration with Ally Lending, expanding its Buy Now, Pay Later (BNPL) offerings. This new service allows consumers to access monthly fixed-rate installment loans lasting up to 60 months and totaling US$40,000. Sezzle aims to empower consumers financially, while providing merchants with the tools to accommodate higher-priced items. This initiative aims to enhance the shopping experience, offering a transparent and responsible alternative for financing.
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