Ally Financial Announces Partial Redemption of Trust Preferred Securities and Junior Debentures
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DETROIT, April 22, 2021 /PRNewswire/ Ally Financial Inc. (NYSE: ALLY) announced today that GMAC Capital Trust I, a subsidiary trust of Ally (the Trust ), is redeeming (i) 56,000,000 units of its 8.125% Fixed Rate/Floating Rate Trust Preferred Securities, Series 2 (CUSIP No. 361860208) (the TRUPS ) (constituting approximately 53.206651% of the outstanding TRUPS) at a par price of $25.00 per unit, plus accrued interest payable from May 15, 2021, through the redemption date (which will be based on an annual rate equal to three-month LIBOR, to be determined as of May 13, 2021, plus 5.785%), and (ii) 1,680,000 units of its 8.125% Fixed Rate/Floating Rate Common Securities, Series 2 (the Common Securities ) (constituting approximately 53.206651% of the outstanding Common Securities) at a par price of $25.00 per unit, plus all accru
In the current market session,
Ally Financial Inc. (NYSE:ALLY) is trading at $47.13, after a 1.25% drop. However, over the past month, the stock went up by 8.02%, and in the past year, by 232.37%. Shareholders might be interested in knowing whether the stock is overvalued, even if the company is not performing up to par in the current session.
Assuming that all other factors are held constant, this could present itself as an opportunity for shareholders trying to capitalize on the higher share price. The stock is currently below from its 52 week high by 4.77%.
The P/E ratio is used by long-term shareholders to assess the company s market performance against aggregate market data, historical earnings, and the industry at large. A lower P/E indicates that shareholders do not expect the stock to perform better in the future, and that the company is probably undervalued. It shows that shareholders are less than willing to pay a high share price, because they do not expect the company
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Operator
Good day, and thank you for standing by. Welcome to Ally Financial s First Quarter 2021 Earnings Conference Call. [Operator Instructions] After the speakers presentation, there will be a question-and-answer session. [Operator Instructions].
I d now like to hand the conference over to your speaker today, Daniel Eller, Head of Investor Relations. Please go ahead.
Daniel Eller
Executive Director of Investor Relations
Thank you, operator. We appreciate everyone joining us to review Ally Financial s First Quarter 2021 results. This morning, we have our CEO, Jeff Brown; and our CFO, Jenn LaClair on the call to review our results and then take questions.
Ally Financial Reports First Quarter 2021 Financial Results
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CHARLOTTE, N.C., April 16, 2021 /PRNewswire/ Ally Financial Inc. (NYSE: ALLY) today reported its first quarter 2021 financial results. View the full press release in PDF.
The news release, presentation and financial supplement also can be accessed in the following ways:
Ally Financial Press Room at https://media.ally.com
Ally will host a conference call at 9:00 a.m. ET to review the company s performance. The call will include a review of the results, followed by a question and answer session.
Conference Call Information: Dial