Ally - ALY

에 대한 최신 뉴스 Ally Financial (NYSE:ALLY) 주식

Ally Financial

Formerly the captive financial arm of General Motors, Ally Financial became an independent publicly traded firm in 2014 and is one of the largest consumer auto lenders in the country. While the firm has expanded its product offerings over time, it remains primarily focused on auto lending with more than 70% of its loan book in consumer auto loans and dealer financing. Ally also offers auto insurance, commercial loans, credit cards, and holds a portfolio of mortgage debt, giving the bank a diversified business model, which includes brokerage services.

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ALLY

미국 연방준비제도(연준)의 연례 은행 스트레스 테스트는 수요일에 대형 은행들이 경기 침체 시나리오에서 작년보다 더 큰 예상 손실에 직면하고 있지만, 여전히 심각한 경기 침체를 견디고 최소 자본 요건을 유지할 수 있는 좋은 위치에 있음을 보여준다.

2024년 연준 스트레스 테스트: 대형 은행들은 심각한 불황에 큰 손실을 겪지만 강한 자본력 유지(정정)

Ally Financial Inc

Deutsche Bank analyst Meng Jiao maintains Ally Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALLY#NYSE">ALLY</a>) with a Buy and lowers the price target from $51 to $50.

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Price Target

Analyst Ratings

Deutsche Bank Maintains Buy on Ally Financial, Lowers Price Target to $50

Editor&#8217;s note: This story erroneously included stock information for Citizens Inc. rather than Citizens Financial Group Inc, which is the company mentioned in the Federal Reserve&#8217;s stress test report, and has been corrected.
The Federal Reserve Board&#8217;s annual bank stress test Wednesday reveals that while large banks face greater projected losses than last year in a downturn scenario, they remain well-positioned to endure a severe recession and maintain their capital <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39461418/us-bank-stress-tests-this-week-analyst-expects-improvement-8-stocks-3-etfs-to-watch">requirements above minimum thresholds. </a>
&#8220;This year&#8217;s stress test shows that large banks have sufficient capital to withstand a highly stressful scenario and meet their minimum capital ratios,&#8221; said the Fed&#8217;s vice chair for supervision Michael S. Barr.
Although this year&#8217;s stress test adverse scenario is as severe as last year&#8217;s, it resulted in greater losses due to slightly riskier bank balance sheets and increased expenses, he said. 
Reflecting on the 2023 regional bank crisis, Barr emphasized that important lessons have been learned.
The Fed stated that &#8220;large banks are generally well-positioned to withstand a sudden funding shock in the form of shifting deposits.&#8221; Additionally, bank net interest income remains resilient in a high-rate environment, even when factoring in the funding shock assumptions.
<h3 class="wp-block-heading">2024 Bank Stress Test Details, Results</h3>
This year&#8217;s test showed that all 31 banks remained above their minimum common equity tier 1 (CET1) capital requirements despite total projected hypothetical losses nearing $685 billion.
The hypothetical scenario for this year&#8217;s test mirrors last year&#8217;s severe global recession test, including a 40% decline in commercial real estate prices, a significant rise in office vacancies and a 36% drop in house prices. The unemployment rate peaks at 10% in the stress test, with a corresponding decline in economic output.
Under the stress scenario, the aggregate CET1 capital ratio is expected to decline by 2.8 percentage points, from 12.7% to 9.9%. Although this is a greater decline than last year&#8217;s test, it remains within the range of recent tests.
Three main factors contribute to the larger capital decline in this year&#8217;s test:
<ol>
<li>Increased Credit Card Losses: A substantial rise in credit card balances and higher delinquency rates lead to greater projected credit card losses. The banks most exposed to credit card losses were Ally Financial Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALLY#NYSE">ALLY</a>), Discover Financial Services (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DFS#NYSE">DFS</a>) and Goldman Sachs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>).</li>
<li>Riskier Corporate Credit Portfolios: Banks have downgraded their corporate loans, reflecting increased risk and resulting in higher projected corporate losses. Banks set to face the largest impact on their corporate loan balances are Discover Financial Services, Barclays plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BCS#NYSE">BCS</a>) and Citizens Financial Group Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CFG#NYSE">CFG</a>).</li>
<li>Higher Expenses and Lower Fee Income: Reduced projected income from higher expenses and lower fee income exacerbates the capital decline.</li>
</ol>
The projected losses include $175 billion in credit card losses, $142 billion from commercial and industrial loans and $77 billion from commercial real estate.
&#8220;Large bank exposure to commercial real estate (CRE) debt remains an area of focus for Federal Reserve supervisors,&#8221; the report says. 
The 2024 supervisory severely adverse scenario includes increased stress in commercial real estate (CRE), with a 40% drop in CRE prices.
Although projected losses on loans to office properties have risen due to worsening fundamentals in the office segment, the Fed said these losses are balanced by a decrease in projected losses on loans to hotels and retail properties, as market fundamentals for these sectors have improved over the last year.
Market Reactions: Capital One Financial Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COF#NYSE">COF</a>), Citizens Financial Group and Goldman Sachs were among the worst performers of the Financial Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>) components in after-market trading as of 5:05 p.m. ET. The top performer was Truist Financial Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TFC#NYSE">TFC</a>), up 1.7%
Read now: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39506069/yen-plummets-to-160-against-dollar-lowest-since-december-1986-is-bank-of-japan-inte">Yen Plummets To 160 Against Dollar, Lowest Since December 1986: Is Bank Of Japan Intervention Imminent?</a>
Photo via Shutterstock.

Fed Stress Test 2024: Large Banks Face Greater Losses But Maintain Strong Capital Positions In Severe Recession Scenario (CORRECTED)

Evercore ISI Group analyst John Pancari maintains Ally Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALLY#NYSE">ALLY</a>) with a In-Line and raises the price target from $43 to $45.

Evercore ISI Group Maintains In-Line on Ally Financial, Raises Price Target to $45

The U.S. banking sector is bracing for the 2024 stress test results, scheduled to be released Wednesday <a href="https://www.benzinga.com/markets">after the market closes</a>.
Bank of America analyst Ebrahim H. Poonawala expects this year&#8217;s stress test to show overall improved capital buffers compared to 2023, given the moderately better severely adverse scenario outlined by the Federal Reserve.
<h1 class="wp-block-heading">Improved Capital Buffers Expected</h1>
According to Poonawala, banks are entering the 2024 stress test with approximately 300 basis points (bp) of excess Common Equity Tier 1 (CET1) capital above regulatory minimums, a notable increase from around 185 bp last year. 
&#8220;Surprises from the annual stress test results are inevitable given the inherent opacity, but we expect these to be manageable,&#8221; Poonawala stated. 
The improved capital position would imply a better ability to absorb an increase in the stress capital buffer, which is a positive development as banks navigate real-life challenges posed by the current macroeconomic backdrop and changing regulatory attitudes.
<h1 class="wp-block-heading">Bank Stress Test&#8217;s Severely Adverse Scenario</h1>
The 2024 stress test&#8217;s four scenarios, designed to provide the Federal Reserve with insight into the resiliency of the U.S. banking system, focuses on funding stress and the failure of five large hedge funds. 
In the Fed&#8217;s hypothetical severely adverse stress scenario, the Dow Jones Index is expected to fall 55%, the unemployment rate to rise by 6.3 percentage points to 10%, the VIX or fear index to spike to 75, and the residential and commercial real estate (CRE) markets to experience declines of 36% and 40%, respectively.
Poonawala noted, &#8220;We wondered if the Fed would inject a much steeper fall in CRE prices given the heightened focus on this asset class. CRE prices are expected to decline by 40% from start to trough, consistent with prior years (&#8217;18, &#8217;21, and &#8217;23).&#8221;
According to Bank of America, there is sensitivity to the potential for the Fed to emphasize certain issues, such as CRE, which could lead to unexpected outcomes.
<h1 class="wp-block-heading">Bank Stocks And ETFs To Watch</h1>
Bank of America is closely monitoring the performance of several banks, including the five new stress test participants: Ally Financial Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALLY#NYSE">ALLY</a>), Fifth Third Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FITB#NYSE">FITB</a>), Huntington Bancshares Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HBAN#NASDAQ">HBAN</a>), KeyCorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KEY#NYSE">KEY</a>), and Regions Financial Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RF#NYSE">RF</a>).&nbsp;
&#8220;Banks that did not participate in last year&#8217;s stress test could potentially experience harsher loss rates given a worse outlook for GDP, unemployment rate, and CRE values vs. 2022,&#8221; Poonawala stated. 
Other institutions of particular interest according to Bank of America are Goldman Sachs Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>), Citigroup Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>) and M&amp;T Bank Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTB#NYSE">MTB</a>).
With a 90 bp decline in stress-test capital buffers (SCB) from 2023 to 2021, driven by reduced exposure to private investments, Goldman Sachs may see continued relief and capital optimization. &#8220;Lower CET1 req. should be viewed positively, supportive of stock momentum,&#8221; Bank of America wrote.
Citigroup would also benefit from a lower CET1 requirement since it could facilitate increased share buybacks over the next year.
With the highest exposure to CRE loans and approximately 250 bp of excess capital above regulatory minimums, M&amp;T is managing towards an 11% CET1 target.
Last year, the bank index closed 1.8% higher (compared to 0.4% for the S&amp;P 500) following the stress test results. Banks that saw a decline in their SCBs rose by 2.6%, those with unchanged SCBs increased by 1.1%, and those with higher SCBs gained 0.4%. This year, investors will be keenly watching for similar trends.
&#8220;Last year banks where the SCB declined, outperformed the bank index (BKX) by 80bp on average the following day and by 220bp vs. those that saw their SCBs rise,&#8221; Poonawala wrote. 
Three banking-related ETFs to keep an eye on this week are:
<ul>
<li>Financial Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>)</li>
<li>SPDR S&amp;P Bank ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KBE#NYSE">KBE</a>)</li>
<li>SPDR S&amp;P Regional Banking ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRE#NYSE">KRE</a>)</li>
</ul>
Read Now: <a href="https://www.benzinga.com/top-stories/24/06/39457749/tesla-leads-2024-us-tech-layoffs-so-far-followed-by-dell-cisco-xerox-paypal-microsoft">Tesla Leads 2024 US Tech Layoffs So Far, Followed By Dell, Cisco, Xerox, PayPal, Microsoft</a>
Photo: Shutterstock

Analyst Color

Sector ETFs

Small Cap

Econ #s

Economics

ETFs

FITB

HBAN

US Bank Stress Tests This Week, Analyst Expects Improvement: 8 Stocks, 3 ETFs To Watch

Providing a diverse range of perspectives from bullish to bearish, 9 analysts have published ratings on Ally Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALLY#NYSE">ALLY</a>) in the last three months.
The following table summarizes their recent ratings, shedding light on the changing sentiments within the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
The 12-month price targets assessed by analysts reveal further insights, featuring an average target of $42.11, a high estimate of $51.00, and a low estimate of $33.00. Observing a 15.59% increase, the current average has risen from the previous average price target of $36.43. 
<img src="https://www.benzinga.com/files/images/story/2024/1719244856_0.png" alt="price target chart" />
<h2>Diving into Analyst Ratings: An In-Depth Exploration</h2>
An in-depth analysis of recent analyst actions unveils how financial experts perceive Ally Financial. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Keith Horowitz</td>
<td>Citigroup</td>
<td>Announces</td>
<td>Buy</td>
<td>$50.00</td>
<td>-</td>
</tr>
<tr>
<td>Vincent Caintic</td>
<td>BTIG</td>
<td>Announces</td>
<td>Buy</td>
<td>$51.00</td>
<td>-</td>
</tr>
<tr>
<td>Moshe Orenbuch</td>
<td>TD Cowen</td>
<td>Raises</td>
<td>Hold</td>
<td>$43.00</td>
<td>$42.00</td>
</tr>
<tr>
<td>James Fotheringham</td>
<td>BMO Capital</td>
<td>Raises</td>
<td>Market Perform</td>
<td>$37.00</td>
<td>$36.00</td>
</tr>
<tr>
<td>Giuliano Bologna</td>
<td>Compass Point</td>
<td>Raises</td>
<td>Neutral</td>
<td>$37.00</td>
<td>$28.00</td>
</tr>
<tr>
<td>Donald Fandetti</td>
<td>Wells Fargo</td>
<td>Raises</td>
<td>Underweight</td>
<td>$33.00</td>
<td>$29.00</td>
</tr>
<tr>
<td>Brandon Berman</td>
<td>B of A Securities</td>
<td>Raises</td>
<td>Buy</td>
<td>$46.00</td>
<td>$42.00</td>
</tr>
<tr>
<td>Richard Shane</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Underweight</td>
<td>$39.00</td>
<td>$37.00</td>
</tr>
<tr>
<td>John Pancari</td>
<td>Evercore ISI Group</td>
<td>Raises</td>
<td>In-Line</td>
<td>$43.00</td>
<td>$41.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Responding to changing market dynamics and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their response to recent developments related to Ally Financial. This offers insight into analysts' perspectives on the current state of the company.</li>
<li>Rating: Delving into assessments, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings communicate expectations for the relative performance of Ally Financial compared to the broader market.</li>
<li>Price Targets: Analysts set price targets as an estimate of a stock's future value. Comparing the current and prior price targets provides insight into how analysts' expectations have changed over time. This information can be valuable for investors seeking to understand consensus views on the stock's potential future performance.</li>
</ul>
For valuable insights into Ally Financial's market performance, consider these analyst evaluations alongside crucial financial indicators. Stay well-informed and make prudent decisions using our Ratings Table.
<a href="https://www.benzinga.com/quote/ALLY/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Ally Financial analyst ratings.</a>
<h2>Unveiling the Story Behind Ally Financial</h2>
Formerly the captive financial arm of General Motors, Ally Financial became an independent publicly traded firm in 2014 and is one of the largest consumer auto lenders in the country. While the firm has expanded its product offerings over time, it remains primarily focused on auto lending with more than 70% of its loan book in consumer auto loans and dealer financing. Ally also offers auto insurance, commercial loans, credit cards, and holds a portfolio of mortgage debt, giving the bank a diversified business model, which includes brokerage services.
<h3>Ally Financial: Financial Performance Dissected</h3>
Market Capitalization Analysis: Below industry benchmarks, the company's market capitalization reflects a smaller scale relative to peers. This could be attributed to factors such as growth expectations or operational capacity.
Revenue Challenges: Ally Financial's revenue growth over 3 months faced difficulties. As of 31 March, 2024, the company experienced a decline of approximately -6.23%. This indicates a decrease in top-line earnings. In comparison to its industry peers, the company trails behind with a growth rate lower than the average among peers in the Financials sector.
Net Margin: Ally Financial's net margin falls below industry averages, indicating challenges in achieving strong profitability. With a net margin of 5.87%, the company may face hurdles in effective cost management.
Return on Equity (ROE): Ally Financial's ROE is below industry averages, indicating potential challenges in efficiently utilizing equity capital. With an ROE of 1.13%, the company may face hurdles in achieving optimal financial returns.
Return on Assets (ROA): Ally Financial's ROA lags behind industry averages, suggesting challenges in maximizing returns from its assets. With an ROA of 0.07%, the company may face hurdles in achieving optimal financial performance.
Debt Management: Ally Financial's debt-to-equity ratio is below the industry average at 1.51, reflecting a lower dependency on debt financing and a more conservative financial approach.
<h2>Understanding the Relevance of Analyst Ratings</h2>
Experts in banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their comprehensive research involves attending company conference calls and meetings, analyzing financial statements, and engaging with insiders to generate what are known as analyst ratings for stocks. Typically, analysts assess and rate each stock once per quarter.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along withanalyst success scores in <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

What Analysts Are Saying About Ally Financial Stock

WIIM

Ally Financial shares are trading higher after Citigroup initiated coverage with a Buy rating and announced a price target of $50.

Citigroup analyst Keith Horowitz initiates coverage on Ally Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALLY#NYSE">ALLY</a>) with a Buy rating and announces Price Target of $50.

Initiation

Citigroup Initiates Coverage On Ally Financial with Buy Rating, Announces Price Target of $50

Warren Buffett's Berkshire Hathaway (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) owns 29 million shares of Ally Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALLY#NYSE">ALLY</a>) stock, which is roughly 9.5% of the company. Even though it's a significant stake in Ally's eyes, it only represents about 0.3% of Berkshire's portfolio.
Ally Financial offers a wide range of banking products and services, and it currently rewards its shareholders with an annual dividend of $1.20 per share. Let's find out how much Berkshire will earn in dividends from its stake.
To determine the total annual dividend income from this investment, we multiply the number of shares by the annual dividend per share:
Total Annual Dividend = Number of Shares x Annual Dividend per Share
Don't Miss:
<ul>
<li>Warren Buffett once said, "If you don't find a way to make money while you sleep, you will work until you die." This <a href="https://www.benzinga.com/money/cityfunds-yield">high-yield real estate fund, offering an 8% yield</a>, makes earning passive income easier than ever. </li>
<li>If there was a new fund backed by Jeff Bezos offering a 7-9% target yield with monthly dividends <a href="https://www.benzinga.com/money/arrived-private-credit-fund">would you invest in it</a>?</li>
</ul>
So…
Berkshire shares of Ally: 29,000,000
Ally annual dividend per share: $1.20
Total Annual Dividend = 29,000,000 x 1.20
Result: $34,800,000
Berkshire Hathaway will receive about $34.8 million annually in dividends from its investment in Ally Financial, which does not include reinvesting those dividends. If those dividends were reinvested, the annual dividend income would grow accordingly.
The income Ally offers aligns with Buffett&#8217;s investment philosophy, which emphasizes steady, predictable returns – this also aligns with Buffett's love of banking stocks.
Keep Reading:
<ul>
<li>The average American couple has saved this much money for retirement — <a href="http://www.benzinga.com/money/smartasset">How do you compare</a>?</li>
<li>The average millionaire has 7 sources of income. <a href="https://www.benzinga.com/money/average-millionaire-7-sources-income">Here are 3 passive income opportunities you can add today</a>.</li>
</ul>
Image Credit: Shutterstock

General

Here's How Much Warren Buffett's Berkshire Hathaway Earns In Dividends From Its Stake In Ally Financial

Ally Financial's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALLY#NYSE">ALLY</a>) short percent of float has risen 4.71% since its last report. The company recently reported that it has 6.07 million shares sold short, which is 2.0% of all regular shares that are available for trading. Based on its trading volume, it would take traders 3.08 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Ally Financial Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1718653515_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Ally Financial has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Ally Financial's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Ally Financial's peer group average for short interest as a percentage of float is 7.31%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

Trading Ideas

Looking Into Ally Financial's Recent Short Interest

NTRS

SPGI

TREE

TROW

UPST

Shares of financial stocks are trading higher following a softer-than-expected May CPI Report. Also, the Fed left rates unchanged.

8 analysts have expressed a variety of opinions on Ally Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALLY#NYSE">ALLY</a>) over the past quarter, offering a diverse set of opinions from bullish to bearish.
The table below offers a condensed view of their recent ratings, showcasing the changing sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts provide deeper insights through their assessments of 12-month price targets, revealing an average target of $41.12, a high estimate of $51.00, and a low estimate of $33.00. Witnessing a positive shift, the current average has risen by 12.87% from the previous average price target of $36.43.
<img src="https://www.benzinga.com/files/images/story/2024/1717772463_0.png" alt="price target chart" />
<h2>Analyzing Analyst Ratings: A Detailed Breakdown</h2>
A clear picture of Ally Financial's perception among financial experts is painted with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Vincent Caintic</td>
<td>BTIG</td>
<td>Announces</td>
<td>Buy</td>
<td>$51.00</td>
<td>-</td>
</tr>
<tr>
<td>Moshe Orenbuch</td>
<td>TD Cowen</td>
<td>Raises</td>
<td>Hold</td>
<td>$43.00</td>
<td>$42.00</td>
</tr>
<tr>
<td>James Fotheringham</td>
<td>BMO Capital</td>
<td>Raises</td>
<td>Market Perform</td>
<td>$37.00</td>
<td>$36.00</td>
</tr>
<tr>
<td>Giuliano Bologna</td>
<td>Compass Point</td>
<td>Raises</td>
<td>Neutral</td>
<td>$37.00</td>
<td>$28.00</td>
</tr>
<tr>
<td>Donald Fandetti</td>
<td>Wells Fargo</td>
<td>Raises</td>
<td>Underweight</td>
<td>$33.00</td>
<td>$29.00</td>
</tr>
<tr>
<td>Brandon Berman</td>
<td>B of A Securities</td>
<td>Raises</td>
<td>Buy</td>
<td>$46.00</td>
<td>$42.00</td>
</tr>
<tr>
<td>Richard Shane</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Underweight</td>
<td>$39.00</td>
<td>$37.00</td>
</tr>
<tr>
<td>John Pancari</td>
<td>Evercore ISI Group</td>
<td>Raises</td>
<td>In-Line</td>
<td>$43.00</td>
<td>$41.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts respond to changes in market conditions and company performance, frequently updating their recommendations. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Ally Financial. This information offers a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Unveiling insights, analysts deliver qualitative insights into stock performance, from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Ally Financial compared to the broader market.</li>
<li>Price Targets: Analysts explore the dynamics of price targets, providing estimates for the future value of Ally Financial's stock. This examination reveals shifts in analysts' expectations over time.</li>
</ul>
To gain a panoramic view of Ally Financial's market performance, explore these analyst evaluations alongside essential financial indicators. Stay informed and make judicious decisions using our Ratings Table.
<a href="https://www.benzinga.com/quote/ALLY/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Ally Financial analyst ratings.</a>
<h2>Get to Know Ally Financial Better</h2>
Formerly the captive financial arm of General Motors, Ally Financial became an independent publicly traded firm in 2014 and is one of the largest consumer auto lenders in the country. While the firm has expanded its product offerings over time, it remains primarily focused on auto lending with more than 70% of its loan book in consumer auto loans and dealer financing. Ally also offers auto insurance, commercial loans, credit cards, and holds a portfolio of mortgage debt, giving the bank a diversified business model, which includes brokerage services.
<h3>Ally Financial: Financial Performance Dissected</h3>
Market Capitalization Analysis: Below industry benchmarks, the company's market capitalization reflects a smaller scale relative to peers. This could be attributed to factors such as growth expectations or operational capacity.
Revenue Challenges: Ally Financial's revenue growth over 3 months faced difficulties. As of 31 March, 2024, the company experienced a decline of approximately -6.23%. This indicates a decrease in top-line earnings. In comparison to its industry peers, the company trails behind with a growth rate lower than the average among peers in the Financials sector.
Net Margin: Ally Financial's net margin is below industry averages, indicating potential challenges in maintaining strong profitability. With a net margin of 5.87%, the company may face hurdles in effective cost management.
Return on Equity (ROE): Ally Financial's ROE is below industry standards, pointing towards difficulties in efficiently utilizing equity capital. With an ROE of 1.13%, the company may encounter challenges in delivering satisfactory returns for shareholders.
Return on Assets (ROA): Ally Financial's ROA lags behind industry averages, suggesting challenges in maximizing returns from its assets. With an ROA of 0.07%, the company may face hurdles in achieving optimal financial performance.
Debt Management: Ally Financial's debt-to-equity ratio is below the industry average. With a ratio of 1.51, the company relies less on debt financing, maintaining a healthier balance between debt and equity, which can be viewed positively by investors.
<h2>The Significance of Analyst Ratings Explained</h2>
Benzinga tracks 150 analyst firms and reports on their stock expectations. Analysts typically arrive at their conclusions by predicting how much money a company will make in the future, usually the upcoming five years, and how risky or predictable that company's revenue streams are.
Analysts attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish their ratings on stocks. Analysts typically rate each stock once per quarter or whenever the company has a major update.
In addition to their assessments, some analysts extend their insights by offering predictions for key metrics such as earnings, revenue, and growth estimates. This supplementary information provides further guidance for traders. It is crucial to recognize that, despite their specialization, analysts are human and can only provide forecasts based on their beliefs.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

A Glimpse Into The Expert Outlook On Ally Financial Through 8 Analysts

BTIG analyst Vincent Caintic initiates coverage on Ally Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALLY#NYSE">ALLY</a>) with a Buy rating and announces Price Target of $51.

BTIG Initiates Coverage On Ally Financial with Buy Rating, Announces Price Target of $51

TD Cowen analyst Moshe Orenbuch maintains Ally Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALLY#NYSE">ALLY</a>) with a Hold and raises the price target from $42 to $43.

TD Cowen Maintains Hold on Ally Financial, Raises Price Target to $43

During the last three months, 10 analysts shared their evaluations of Ally Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALLY#NYSE">ALLY</a>), revealing diverse outlooks from bullish to bearish.
The table below provides a snapshot of their recent ratings, showcasing how sentiments have evolved over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
In the assessment of 12-month price targets, analysts unveil insights for Ally Financial, presenting an average target of $38.8, a high estimate of $47.00, and a low estimate of $29.00. Surpassing the previous average price target of $34.67, the current average has increased by 11.91%.
<img src="https://www.benzinga.com/files/images/story/2024/1713531634_0.png" alt="price target chart" />
<h2>Understanding Analyst Ratings: A Comprehensive Breakdown</h2>
A clear picture of Ally Financial's perception among financial experts is painted with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>James Fotheringham</td>
<td>BMO Capital</td>
<td>Raises</td>
<td>Market Perform</td>
<td>$37.00</td>
<td>$36.00</td>
</tr>
<tr>
<td>Giuliano Bologna</td>
<td>Compass Point</td>
<td>Raises</td>
<td>Neutral</td>
<td>$37.00</td>
<td>$28.00</td>
</tr>
<tr>
<td>Donald Fandetti</td>
<td>Wells Fargo</td>
<td>Raises</td>
<td>Underweight</td>
<td>$33.00</td>
<td>$29.00</td>
</tr>
<tr>
<td>Brandon Berman</td>
<td>B of A Securities</td>
<td>Raises</td>
<td>Buy</td>
<td>$46.00</td>
<td>$42.00</td>
</tr>
<tr>
<td>Richard Shane</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Underweight</td>
<td>$39.00</td>
<td>$37.00</td>
</tr>
<tr>
<td>John Pancari</td>
<td>Evercore ISI Group</td>
<td>Raises</td>
<td>In-Line</td>
<td>$43.00</td>
<td>$41.00</td>
</tr>
<tr>
<td>Betsy Graseck</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Overweight</td>
<td>$47.00</td>
<td>$37.00</td>
</tr>
<tr>
<td>James Fotheringham</td>
<td>BMO Capital</td>
<td>Raises</td>
<td>Market Perform</td>
<td>$37.00</td>
<td>$36.00</td>
</tr>
<tr>
<td>Jon Arfstrom</td>
<td>RBC Capital</td>
<td>Maintains</td>
<td>Outperform</td>
<td>$40.00</td>
<td>-</td>
</tr>
<tr>
<td>Donald Fandetti</td>
<td>Wells Fargo</td>
<td>Raises</td>
<td>Underweight</td>
<td>$29.00</td>
<td>$26.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts respond to changes in market conditions and company performance, frequently updating their recommendations. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Ally Financial. This information offers a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Analyzing trends, analysts offer qualitative evaluations, ranging from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Ally Financial compared to the broader market.</li>
<li>Price Targets: Analysts navigate through adjustments in price targets, providing estimates for Ally Financial's future value. Comparing current and prior targets offers insights into analysts' evolving expectations.</li>
</ul>
Capture valuable insights into Ally Financial's market standing by understanding these analyst evaluations alongside pertinent financial indicators. Stay informed and make strategic decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/ALLY/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Ally Financial analyst ratings.</a>
<h2>About Ally Financial</h2>
Formerly the captive financial arm of General Motors, Ally Financial became an independent publicly traded firm in 2014 and is one of the largest consumer auto lenders in the country. While the firm has expanded its product offerings over time, it remains primarily focused on auto lending with more than 70% of its loan book in consumer auto loans and dealer financing. Ally also offers auto insurance, commercial loans, credit cards, and holds a portfolio of mortgage debt, giving the bank a diversified business model, which includes brokerage services.
<h3>Ally Financial: A Financial Overview</h3>
Market Capitalization Analysis: The company's market capitalization is below the industry average, suggesting that it is relatively smaller compared to peers. This could be due to various factors, including perceived growth potential or operational scale.
Negative Revenue Trend: Examining Ally Financial's financials over 3 months reveals challenges. As of 31 December, 2023, the company experienced a decline of approximately -5.95% in revenue growth, reflecting a decrease in top-line earnings. In comparison to its industry peers, the company trails behind with a growth rate lower than the average among peers in the Financials sector.
Net Margin: Ally Financial's net margin is below industry standards, pointing towards difficulties in achieving strong profitability. With a net margin of 2.14%, the company may encounter challenges in effective cost control.
Return on Equity (ROE): The company's ROE is below industry benchmarks, signaling potential difficulties in efficiently using equity capital. With an ROE of 0.45%, the company may need to address challenges in generating satisfactory returns for shareholders.
Return on Assets (ROA): Ally Financial's ROA falls below industry averages, indicating challenges in efficiently utilizing assets. With an ROA of 0.03%, the company may face hurdles in generating optimal returns from its assets.
Debt Management: With a below-average debt-to-equity ratio of 1.77, Ally Financial adopts a prudent financial strategy, indicating a balanced approach to debt management.
<h2>The Significance of Analyst Ratings Explained</h2>
Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.
In addition to their assessments, some analysts extend their insights by offering predictions for key metrics such as earnings, revenue, and growth estimates. This supplementary information provides further guidance for traders. It is crucial to recognize that, despite their specialization, analysts are human and can only provide forecasts based on their beliefs.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

The Latest Analyst Ratings For Ally Financial

BMO Capital analyst James Fotheringham maintains Ally Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALLY#NYSE">ALLY</a>) with a Market Perform and raises the price target from $36 to $37.

BMO Capital Maintains Market Perform on Ally Financial, Raises Price Target to $37

U.S. stocks were lower, with the Nasdaq Composite falling over 50 points on Thursday.
Shares of Ally Financial Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALLY#NYSE">ALLY</a>) rose sharply during Thursday's session after the company reported better-than-expected quarterly financial results.
Ally Financial posted adjusted earnings of 45 cents per share, beating market estimates of 33 cents per share. The company's adjusted sales came in at $1.99 billion versus expectations of $1.96 billion.
Ally Financial shares jumped 7.7% to $39.06 on Thursday.
Here are some other big stocks recording losses in today's session.
<ul>
<li>Critical Metals Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRML#NASDAQ">CRML</a>) rose 24% to $9.30.</li>
<li>Canopy Growth Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CGC#NASDAQ">CGC</a>) shares gained 21.2% to $7.86.</li>
<li>Humacyte, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HUMA#NASDAQ">HUMA</a>) shares rose 13.9% to $3.5550.</li>
<li>Trump Media &amp; Technology Group Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>) jumped 13.4% to $29.92. The company in a filing explained to shareholders how to prevent shares from being loaned for a short interest position.</li>
<li>Aquestive Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AQST#NASDAQ">AQST</a>) jumped 12.4% to $4.4050.</li>
<li>Badger Meter, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMI#NYSE">BMI</a>) shares jumped 11.8% to $171.06 after the company reported better-than-expected first-quarter results.</li>
<li>FibroBiologics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FBLG#NASDAQ">FBLG</a>) rose 11.8% to $10.61.</li>
<li>CleanSpark, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLSK#NASDAQ">CLSK</a>) climbed 11.7% to $16.66 as Bitcoin has gained over the past 24 hours.</li>
<li>Genuine Parts Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GPC#NASDAQ">GPC</a>) gained 11.1% to $160.05 after the company reported a first-quarter EPS beat and raised its FY24 guidance.</li>
<li>Barnes Group Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/B#NYSE">B</a>) rose 8.8% to $36.31. DA Davidson analyst Matt Summerville upgraded Barnes from Neutral to Buy and raised the price target from $35 to $45.</li>
<li>Iridium Communications Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IRDM#NASDAQ">IRDM</a>) climbed 8.5% to $26.81 after the company reported better-than-expected first-quarter financial results.</li>
<li>Apogee Enterprises, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APOG#NASDAQ">APOG</a>) surged 8.1% to $60.42 following upbeat quarterly earnings.</li>
<li>ManpowerGroup Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MAN#NYSE">MAN</a>) gained 7.1% to $75.03 following strong second-quarter guidance.</li>
<li>Snap Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNAP#NYSE">SNAP</a>) rose 6.2% to $11.58 following recent reports of the TikTok divest-or-ban bill moving on a fast track through Congress.</li>
<li>United Airlines Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NASDAQ">UAL</a>) jumped 4.6% to $50.99 after multiple analysts raised their price targets on the stock.</li>
<li>Now Read This: <a href="https://www.benzinga.com/news/24/04/38316287/netflix-earnings-are-imminent-these-most-accurate-analysts-revise-forecasts-ahead-of-earnings-call">Netflix Earnings Are Imminent; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call</a></li>
</ul>
<figure class="wp-block-gallery has-nested-images columns-default is-cropped wp-block-gallery-1 is-layout-flex wp-block-gallery-is-layout-flex"> 
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="612" height="418" data-id="298553" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/18140050/Image26-1.jpeg" alt="" class="wp-image-298553" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/18140050/Image26-1.jpeg 612w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/18140050/Image26-1-300x205.jpeg 300w" sizes="(max-width: 612px) 100vw, 612px" /><figcaption class="wp-element-caption">Double exposure of business woman are trading USA stock market by using digital tablet</figcaption></figure> 
</figure>

Intraday Update

Markets

APOG

AQST

CLSK

CRML

FBLG

HUMA

IRDM

SNAP

Ally Financial Reports Upbeat Earnings, Joins Badger Meter, Genuine Parts And Other Big Stocks Moving Higher On Thursday

Stocks surged higher on Thursday, with the S&amp;P 500 index aiming to snap a four-day losing streak as investors assess the latest wave <a href="https://www.benzinga.com/calendars/earnings">of corporate earnings.</a>
During midday trading in New York, all major indices were in the green. Notably, small caps, as tracked by the iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>), outperformed, posting a 1% increase.
Industry-wise, airline stocks continued their upward momentum, with the U.S. Global Jets ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JETS#NYSE">JETS</a>) climbing 2.7%, building on Wednesday&#8217;s 3.9% surge.
Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) had another lackluster session, declining over 3% and on track for its lowest close since January 2023. This decline followed Deutsche Bank&#8217;s downgrade of the EV-maker from Buy to Hold, citing concerns over the strategic pivot to autonomous vehicles.
On the data front, the Philadelphia Fed Manufacturing Index posted a sharp upside surprise, registering at 15.5 compared to the expected 1.5 for April. However, existing home sales disappointed expectations, declining 4.3% year over year.
Commodities experienced a rebound, with copper witnessing strong gains, up over 2% to reach a 22-month high, and gold showing further strength with a 1% increase. Natural gas prices rallied over 3% due to slower than expected inventory builds last week.
Meanwhile, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) rallied 4% to reach $63,700 ahead of the highly anticipated halving event.
<h3 class="wp-block-heading">Thursday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>1,964.69</td>
<td>0.9%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>37,894.26</td>
<td>0.4%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,038.47</td>
<td>0.3%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>17,526.21</td>
<td>0.2%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:38 p.m. EDT</figcaption></figure>
The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) rose 0.4% to $502.25, the&nbsp;SPDR Dow Jones Industrial Average (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) also rose 0.4% to $379.08 and the tech-heavy&nbsp;Invesco QQQ Trust&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) inched 0.2% up to $426.62, according to&nbsp;<a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.&nbsp;
Sector-wise, the Communication Services Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>) outperformed, up 1.2%. The Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) was the major laggard, down 0.4%. 
<h3 class="wp-block-heading">Thursday&#8217;s Stock Movers</h3>
<ul>
<li>Discovery Financial Services (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DFS#NYSE">DFS</a>) rose 3.6% following the company&#8217;s first quarter results. Peer Capital One Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COF#NYSE">COF</a>) mimicked the move ahead of next week&#8217;s earnings release. </li>
<li>Other stocks reacting to earnings were Genuine Parts Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GPC#NYSE">GPC</a>), up over 12%, Alaska Air Group, Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALK#NYSE">ALK</a>), up over 5%, Blackstone Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BX#NYSE">BX</a>), down 2%, Comerica, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMA#NYSE">CMA</a>), up over 3%, Ally Financial Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALLY#NYSE">ALLY</a>), up over 8%, D.R. Horton, Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHI#NYSE">DHI</a>), up over 2%, KeyCorp&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KEY#NYSE">KEY</a>), down 0.4%, and Marsh &amp; McLennan Companies, Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MMC#NYSE">MMC</a>), up over 3%. </li>
<li>Notable names reporting after the close are Intuitive Surgical, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ISRG#NASDAQ">ISRG</a>) and Netflix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>).</li>
</ul>
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Stocks Edge Higher As Earnings Provide Support, Tesla Sinks To 15-Month Lows, Bitcoin Rebounds: What's Driving Markets Thursday?

Ally Financial shares are trading higher after the company reported better-than-expected Q1 financial results.

Ally Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALLY#NYSE">ALLY</a>) reported quarterly Adj earnings of $0.45 per share which beat the analyst consensus estimate of $0.33 by 36.36 percent. This is a 45.12 percent decrease over earnings of $0.82 per share from the same period last year. The company reported quarterly Adj sales of $1.99 billion which beat the analyst consensus estimate of $1.96 billion by 1.48 percent. This is a 2.83 percent decrease over sales of $2.05 billion the same period last year.

Earnings

Ally Financial Q1 Adj EPS $0.45 Beats $0.33 Estimate, Adj Sales $1.99B Beat $1.96B Estimate

Cautious optimism hangs in the air on Thursday morning as index futures traded up moderately in early hours. The&nbsp;<a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38301893/market-reaction-to-bank-earnings-is-mixed-jpmorgan-analysts-project-further-decline" rel="noreferrer noopener">earnings season also heats up</a>&nbsp;with more financial companies and streaming giant&nbsp;Netflix, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) scheduled to release quarterly results. Economic data on the housing market and the manufacturing sector, along with comments from Federal Reserve officials, may also impact the market.
Cleveland Fed President&nbsp;Loretta Mester, in a speech after the market closed on Wednesday, said the central bank needn&#8217;t rush to cut rates, but at some point when inflation eases closer to the 2% target, it could loosen its monetary policy stance. Meanwhile, Fed Governor&nbsp;Michelle Bowman&nbsp;commented that progress on curbing inflation has slowed and may have even stalled.
 Futures Performance On Thursday ( as of 6:00 a.m. EDT)
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>+0.34%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>+0.24%</td>
</tr>
<tr>
<td>Dow</td>
<td>+0.22%</td>
</tr>
<tr>
<td>R2K</td>
<td>-0.01%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption"> In <a href="https://www.benzinga.com/premarket/" target="_blank" rel="noreferrer noopener">premarket</a>&nbsp;trading on Thursday, the&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) added 0.29% to $502.0,&nbsp;and the&nbsp;Invesco QQQ ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) gained 0.33% to $427.24, according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.</figcaption></figure>
Cues From Previous Session:
The lean patch on Wall Street continued on Wednesday despite the bond yields coming off recent highs. The culprit this time around was the premonition of potential earnings slowdown, especially from red-hot AI-levered companies, after Dutch semiconductor-equipment maker ASML Holding N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASML#NASDAQ">ASML</a>) was disappointed with a first-quarter revenue miss.
Mortgage Bankers&#8217; Association&#8217;s weekly mortgage applications volume data showed that 30-year fixed mortgage rates rising to their highest level since December 2023, also stirred inflation worries and weighed down on sentiment.
The major indices opened higher but reversed course immediately after, declining through the morning and hitting the day&#8217;s low by the mid-session. Although the averages recouped some of the losses, they languished in the red for much of the remainder of the session.
The S&amp;P 500 Index and the Nasdaq Composite extended the losing streak to four and settled at fresh two-month lows.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance In (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>-1.15%</td>
<td>15,683.37</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>-0.58%</td>
<td>5,022.21</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>-0.12%</td>
<td>37,753.31</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>-0.99%</td>
<td>1,947.95</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
The recent market shakeout should not sound alarm bells, according to LPL Chief Technical Strategist Adam Turnquist. But he conceded that there has been some technical damage. &#8220;The S&amp;P 500 is experiencing its first real bout of volatility this year. The April showers — bringing a 3.9% decline thus far,&#8221; he said. The analyst sees the psychological level of 5,000 as the next major downside support for the S&amp;P 500 Index.
The shorter-term breadth, according to the analyst, appeared oversold but the longer-term breadth metrics have held up well. Nearly 70% of the S&amp;P 500 constituents remained above their 200-day moving average, he noted. 
Turnquist also derived encouragement from the fact that cyclical/offensive sectors are leading the way, with financials, energy, industrials, technology, and materials reporting the highest breadth readings.&nbsp;&#8220;The lack of major damage to longer-term breadth across the offensive sectors suggests bullish leadership is still on stable ground despite the recent shakeout,&#8221; he said.
Carson Group&#8217;s Ryan Detrick pointed to another encouraging historical trend. Sharing a chart on X, formerly Twitter, the analyst said, &#8220;Election years tend to chop around until Memorial Day, then a summer rally is quite normal.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">No, you should never blindly invest in seasonality, but still worth watching. Note that election years tend to chop around until Memorial Day, then a summer rally is quite normal. <a href="https://t.co/S93LAj3t6B">pic.twitter.com/S93LAj3t6B</a>
&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1780708343457411544?ref_src=twsrc%5Etfw">April 17, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Morgan Stanley&#8217;s Lisa Shalett recommended investors should consider rebalancing their portfolios, taking profits in richly valued equities, and adding yield and value. This is based on the assumption that the Fed is left with two options amid inflation that is not slowing anymore, she said.
&#8220;The central bank could either keep rates high, causing potential pain for certain sectors, or preemptively cut rates, risking policy predictability,&#8221; she said.
Upcoming Economic Data:
The Labor Department is scheduled to release its weekly jobless claims data at 8:30 a.m. EDT. The number of individuals claiming unemployment benefits may have come in at 215,000 in the week ended April 13, up from 211,000 in the previous week.
The results of the Philadelphia Fed&#8217;s manufacturing survey, due at 8:30 a.m. EDT, may show that the diffusion index of manufacturing activity slipped from 3.2 in March to 2.5 in April. A reading above &#8220;0&#8221; indicates expanding activity.
The National Association of Realtors is scheduled to release its existing home sales for March at 10 a.m. EDT. Economists, on average, expect the reading to come in at 4.17 million units, down from February&#8217;s 4.38 million units.
The Conference Board will release its leading economic index for March at 10 a.m. EDT. The index is expected to slip 0.1% month-over-month, reversing the 0.1% increase in February, when it rose for the first time in two years.
The Treasury will auction four- and eight-week bills at 11:30 a.m. EDT and 5-year TIPS at 1 p.m. EDT.
Among the Fed speeches due for the day are:
<ul>
<li>Bowman: 9:05 a.m. EDT</li>
<li>New York Fed President John Williams: 9:15 a.m. EDT</li>
<li>Atlanta Fed President Raphael Bostic: 11:00 a.m. EDT, 5:45 p.m. EDT</li>
</ul>
See also: <a href="https://www.benzinga.com/money/best-futures-trading-software">Best Futures Trading Software</a>
Stocks In Focus:
<ul>
<li>Jabil, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JBL#NYSE">JBL</a>) rose over 5% <a href="https://www.benzinga.com/premarket">in premarket trading</a> after the company&#8217;s board declared a dividend.</li>
<li>Micron Technology, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>) added about 2% after a Bloomberg report said the Biden administration could announce $6 billion in grants to the company under the CHIPS Act.</li>
<li>Alaska Air Group, Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALK#NYSE">ALK</a>), Blackstone Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BX#NYSE">BX</a>), Comerica, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMA#NYSE">CMA</a>), Ally Financial Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALLY#NYSE">ALLY</a>), D.R. Horton, Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHI#NYSE">DHI</a>), KeyCorp&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KEY#NYSE">KEY</a>) and Marsh &amp; McLennan Companies, Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MMC#NYSE">MMC</a>) are among those <a href="https://www.benzinga.com/calendars/earnings">reporting earnings ahead of the market open.</a> </li>
<li>Notable names reporting after the close are Intuitive Surgical, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ISRG#NASDAQ">ISRG</a>) and Netflix.</li>
</ul>
Commodities, Bonds, and Global Equity Markets:
Crude oil futures have pulled back toward the $81-a-barrel mark, dragged by four straight sessions of losses. Gold futures, meanwhile, rebounded from Wednesday&#8217;s decline, but traded shy of the $2,400 mark. The yield on the U.S. 10-year note was little changed under the 4.60% mark.
 Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) fell about 2.75% over the past 24 hours and traded near the $61,600 level.
While Asian stocks recovered from their recent weakness, the European markets were mostly higher in early trading. The Euro STOXX 50 Index was up 0.40% at the last check.
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38303079/most-s-p-500-stocks-no-longer-trade-above-50-day-average-healthy-pullback-or-is-the">Most S&amp;P 500 Stocks No Longer Trade Above 50-Day Average: Healthy Pullback Or Is The Bull Market Over?</a>
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편집자 주: 이 기사에는 연준의 스트레스 테스트 보고서에 언급된 회사인 Citizens Financial Group Inc.가 아닌 Citizens Inc.의 주식 정보가 잘못 포함되어 수정되었습니다.
미국 연방준비제도(연준)의 연례 은행 스트레스 테스트는 수요일에 대형 은행들이 경기 침체 시나리오에서 작년보다 더 큰 예상 손실에 직면하고 있지만, 여전히 심각한 경기 침체를 견디고 <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39461418/us-bank-stress-tests-this-week-analyst-expects-improvement-8-stocks-3-etfs-to-watch" target="_blank" rel="noopener" data-google-interstitial="false">최소 자본 요건을 유지</a>할 수 있는 좋은 위치에 있음을 보여준다.
"올해의 스트레스 테스트는 대형 은행들이 매우 스트레스가 큰 시나리오에서도 충분한 자본을 보유하고 최소 자본 비율을 충족할 수 있음을 보여준다"고 연준 감독 부문 부의장인 마이클 S. 바(Michael S. Barr)가 말했다.
올해의 스트레스 테스트 부정적 시나리오는 작년과 마찬가지로 심각하지만, 은행 대차대조표의 약간 더 높은 위험과 증가한 비용 때문에 더 큰 손실이 발생했다고 그가 말했다.
2023년 지역 은행 위기를 회상하며, 바는 중요한 교훈이 얻어졌다고 강조했다.
연준은 &#8220;대형 은행들이 일반적으로 예금 이동의 형태로 갑작스러운 자금 충격을 견딜 수 있는 좋은 위치에 있다&#8221;고 밝혔다. 또한, 자금 충격 가정을 감안하더라도 은행의 순이자 수익은 고금리 환경에서 탄력적으로 유지되고 있다.
<h3 class="wp-block-heading">2024년 은행 스트레스 테스트 세부사항, 결과</h3>
올해 테스트에서는 31개 은행 모두 총 예상 가상 손실이 약 6850억 달러에 달함에도 불구하고 최소 보통주 자본 비율 1(CET1) 요건을 초과했다.
올해의 테스트 가상 시나리오는 작년의 심각한 세계적 경기 침체 테스트와 유사하며, 상업용 부동산 가격이 40% 하락하고, 사무실 공실률이 크게 증가하며, 주택 가격이 36% 하락하는 상황을 포함한다. 실업률은 스트레스 테스트에서 10%로 정점에 달하며 경제 생산량도 이에 따라 감소했다.
이 스트레스 시나리오 하에서, 총 보통주 자본 비율(CET1)은 12.7%에서 9.9%로 2.8 퍼센트 포인트 하락할 것으로 예상된다. 이는 작년 테스트보다 더 큰 하락이지만 최근 테스트 범위 내에 있다.
올해 테스트에서 더 큰 자본 감소에 기여한 세 가지 주요 요인은 다음과 같다:
<ol>
<li>신용카드 손실 증가: 신용카드 잔액의 상당한 증가와 높은 연체율로 인해 예상되는 신용카드 손실이 증가했다. 신용카드 손실에 가장 많이 노출된 은행은 앨리 파이낸셜(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALLY#NYSE">ALLY</a>), 디스커버 파이낸셜 서비스(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DFS#NYSE">DFS</a>) 및 골드만삭스(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>)이다.</li>
<li>더 위험한 기업 대출 포트폴리오: 은행들은 기업 대출을 다운그레이드하여 리스크가 증가했음을 반영했고, 이로 인해 예상되는 기업 손실도 증가했다. 기업 대출 잔액에 가장 큰 영향을 받을 것으로 예상되는 은행은 디스커버 파이낸셜 서비스, 바클레이즈(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BCS#NYSE">BCS</a>) 및 시티즌 파이낸셜 그룹(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CFG#NYSE">CFG</a>)이다.</li>
<li>높은 비용과 낮은 수수료 수익: 비용 증가와 수수료 수익 감소로 인해 예상되는 수익이 줄어들면서 자본 감소가 악화되었다.</li>
</ol>
이러한 예상 손실에는 신용카드 손실 1,750억 달러, 상업 및 산업 대출에서 1,420억 달러, 상업용 부동산에서 770억 달러가 포함된다.
&#8220;대형 은행의 상업용 부동산(CRE) 부채 노출은 연방 준비 제도 이사회 감독관들의 주요 관심사로 남아있다&#8221;고 이 보고서에서 밝혔다.
2024년 감독관의 심각한 악화 시나리오에는 상업용 부동산(CRE) 스트레스 증가가 포함되며, CRE 가격은 40% 하락할 것으로 예상된다.
사무실 부문에서의 악화된 기본 요인으로 인해 사무실 건물 대출에 대한 예상 손실이 증가했지만, 연준은 호텔 및 소매 부동산 대출에 대한 예상 손실이 감소하면서 이러한 손실이 균형을 이루고 있다고 밝혔다. 이는 지난 해 동안 이들 부문의 시장 기본 요인이 개선되었기 때문이다.
시장 반응: 미 동부 시간 오후 5:05 기준 캐피탈 원 파이낸셜(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COF#NYSE">COF</a>), 시티즌 파이낸셜 그룹(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CFG#NYSE">CFG</a>) 및 골드만삭스는 Financial Select Sector SPDR Fund(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>) 구성 주식들 중 가장 많이 하락했다. 최고의 종목은 1.7% 상승한 트루이스트 파이낸셜(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TFC#NYSE">TFC</a>)이었다.
지금 읽기: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39506069/yen-plummets-to-160-against-dollar-lowest-since-december-1986-is-bank-of-japan-inte">엔화는 1986년 12월 이후 최저치인 달러 대비 160으로 급락: 일본은행의 개입이 임박?</a>
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