2 Things the Smartest Investors Know About Ally Financial
Ally Financial (NYSE: ALLY) is an online-based financial institution with a focus on auto lending, but with a wide variety of banking products. The stock was initially beaten down in 2023, with investors fearing that loan delinquencies would rise and the bank's deposit cost would stay elevated indefinitely, but Ally ended up gaining 43% for the year as inflation started to moderate and a so-called soft landing in the economy is looking far more realistic.
Even with the sharp rally in the stock, Ally could still be a bargain from a long-term perspective. It's one of the few bank stocks still in Berkshire Hathaway's (NYSE: BRK.B) portfolio, with the Warren Buffett-led conglomerate keeping a 9.6% stake despite selling shares of several big banks last year. And a couple of analyst firms, including Goldman Sachs and , have recently raised their price targets on the bank.
While there are likely several reasons for the optimism from the big investors, here are a couple of things individual investors should keep in mind about Ally.
Source Fool.com
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