Ally Financial Inc. (ALLY)

Executive Summary

Ally Financial reported third-quarter results on October 17, and the three numbers we said mattered most all moved the right way: retail auto charge-offs of 1.89% landed inside guidance, core return on tangible common equity rose to 13.1% from 11.8%, and the dividend goes to $0.35, the first increase since 2022. Tangible book per share excluding AOCI has grown every year since 2021, and the auto book has moved steadily up the credit curve. Every peer that has reported trades well above tangible book while Ally still trades below it.

What’s Inside The Full Report

• Executive summary and key points
• Charge-Offs, Book And Buybacks
• Returns Moved Up
• How AOCI Has Moved Tangible Book
• Where AOCI Goes From Here
• Credit Quality
• Insurance And Corporate Finance
• Still The Only One Below Book
• What I Think It’s Worth Now
• How I Could Be Wrong
• Where I Come Out
• TTCM rating and position disclosure