Ally Financial (ALLY) is working with a financial adviser to explore a sale of its credit card arm, people familiar with the matter told Bloomberg’s Matthew Monks. While it is not clear what the business is worth, Ally agreed to pay $750M for the then-called Fair Square Financial unit in 2021 and Ally had about $2.1B in credit card loans on average at the end of Q3, the author says. Shares of Ally are up 3.3% in afternoon trading.
Don't Miss Our Christmas Offers:
- Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ALLY:
- Ally Financial weighing sale of credit card business, Bloomberg says
- Ally Financial exploring potential sale of credit card unit, Bloomberg says
- Ally Financial announces several new leadership appointments
- Ally Financial price target raised to $55 from $50 at Citi
- Ally Financial price target raised to $38 from $37 at BofA