Is Ally Financial a good investment? (2024)

Is Ally Financial a good investment?

Ally Financial has 3.50% upside potential, based on the analysts' average price target. Is ALLY a Buy, Sell or Hold? Ally Financial has a conensus rating of Moderate Buy which is based on 7 buy ratings, 7 hold ratings and 2 sell ratings.

Is Ally Financial a good stock to buy?

Ally Financial stock has received a consensus rating of buy. The average rating score is and is based on 34 buy ratings, 21 hold ratings, and 16 sell ratings.

Is Ally Bank a good place to Invest?

Ally Invest has competitive pricing, helpful trading tools and an easy-to-use trading platform. With no account minimum it's easy for beginners to get started, while active investors will appreciate Ally's commission-free trades on eligible U.S. securities and low options contract fee.

How financially stable is Ally Bank?

Stable Funding and Liquidity: Since the pandemic, Ally's gross loans to deposits improved to 90%, with deposits at 87% of funding vs. 75% pre-pandemic, providing headroom in its rating category. Ally's deposit balances grew in the Spring 2023 flight to quality, with 92% FDIC-insured.

What is the downside of Ally Bank?

What are the disadvantages of Ally Bank? Ally Bank is an online-only bank without any physical branches or the ability to make cash deposits. If you need physical locations and the ability to deposit cash, then it's probably best to go with a traditional brick-and-mortar bank instead.

Is Ally Bank financially safe?

Ally Bank is a member of the Federal Deposit Insurance Corporation (FDIC). The FDIC protects your Ally Bank deposits up to $250,000 per depositor for each qualifying account ownership category. This means you can rest assured that your deposits are safe up to FDIC limits, no matter what's happening in the economy.

Is Ally Bank safe from the financial crisis?

Yes, Ally Bank is FDIC insured (FDIC No. 57803). The federal government insures banking products from Ally up to $250,000 per depositor, for each account ownership category. FDIC insurance protects your money in the event of a bank failure.

Did Warren Buffett Invest in Ally Bank?

Berkshire Hathaway's Ally Financial Stake

Warren Buffett acquired 29 Million Ally Financial shares worth $1.18 Billion. That's 0.34% of their equity portfolio (21st largest holding). The investor owns 9.61% of the outstanding Ally Financial stock.

Is Ally at risk of a bank run?

While Ally doesn't face deposit risks, it does face credit risks on its loan portfolio due to rising delinquencies.

How do I get my money out of Ally Invest?

How do I withdraw funds? You can request a transfer by logging in and selecting Transfers. You can also wire funds to another account for a $30 fee or request a check for a $5 fee.

What is the outlook for Ally Financial?

ALLY Stock 12 Months Forecast

Based on 16 Wall Street analysts offering 12 month price targets for Ally Financial in the last 3 months. The average price target is $41.67 with a high forecast of $51.00 and a low forecast of $29.00. The average price target represents a 5.21% change from the last price of $39.61.

Who owns Ally Bank?

As Ally Bank is part of Ally Financial, and Ally Financial is a publicly traded company, institutional investors own the majority of Ally.

What is the Ally Bank controversy?

What is the Ally Bank controversy? In 2013, Ally Bank was ordered to pay $80 million in damages to their customers who were illegally discriminated against when they applied for loans. These borrowers with certain ethnicities were given higher markups on their loan rates than others.

Where does Ally Bank rank in the US?

Ally Bank operates online and offers checking accounts, savings accounts, money market accounts, certificates of deposit, credit cards, mortgages, auto loans and investment products. Ally had $186.1 billion in assets as of Dec. 31, 2023, ranking it No. 21 among American banks.

Which is better Marcus or Ally?

In addition to offering a higher APY than conventional banks, another great selling point of Marcus is that there are no additional fees attached to opening an account with them. However, Ally charges an additional $25 for an overdraft and other fees, such as a $10 excessive transaction fee.

Is Ally a good high yield savings account?

The APY of our Savings Account is more than 5x the national average of 0.47% APY, based on the national average of savings accounts rates published in the FDIC Monthly National Rates and Rate Caps accurate as of 3/18/2024.

Why is Ally Bank interest rate so high?

Traditional bank accounts from brick-and-mortar banks and credit unions might pay you just pennies every month, but online-only accounts often come with considerably higher APYs. Ally is able to offer such a high interest rate because it doesn't have physical branches.

Is Ally Financial being sued?

Named plaintiff David De Medicis sued the bank in 2021, arguing that the security of his account and the proposed class members' accounts at Ally were compromised by a data breach in which a code error revealed Ally customers' names and passwords to third parties involved in business relationships with the bank.

Can banks seize your money if economy fails?

In conclusion, banks cannot seize your money without your permission or a court order. However, there are scenarios where banks can freeze your account and hold your funds temporarily.

Who is the largest shareholder of Ally Financial?

Largest shareholders include Berkshire Hathaway Inc, BlackRock Inc., Vanguard Group Inc, Harris Associates L P, OAKMX - Oakmark Fund Investor Class, State Street Corp, VTSMX - Vanguard Total Stock Market Index Fund Investor Shares, IJH - iShares Core S&P Mid-Cap ETF, NAESX - Vanguard Small-Cap Index Fund Investor ...

Who is the largest shareholder of Ally?

How much of Ally does Warren Buffett own?

What happens if Ally Bank fails?

Introduced in 1933 during the Great Depression, the FDIC continues to serve as a way to insure Americans' bank deposits in case of bank failure — ultimately guaranteeing the money stays in their possession. As an Ally Bank customer, your deposits are FDIC-insured up to the maximum allowed by law.

Is Ally in danger of failing?

Ally Financial's threat of distress is less than 3% at this time. It is unlikely to undergo any financial straits in the next 24 months. Chance Of Bankruptcy shows the probability of financial distress over the next two years of operations under current economic and market conditions.

Why is Ally falling?

Rising interest rates put a damper on loan demand, and with automotive prices stabilizing, Ally saw a sizable drop in its earnings. Last year, Ally's automotive financing originations fell 14%.