Two Financial Stocks Are Hot: Ally Financial Inc. (ALLY), State Street Corporation (STT)

Ally Financial Inc. (ALLY) ended last trading session with a change of 0 percent. It trades at an average volume of 4.69M shares versus 2.56M shares recorded at the end of last trading session. The share price of $21.98 is at a distance of 48.11 percent from its 52-week low and down -6.94 percent versus its peak. The company has a market cap of $10.38B and currently has 472.44M shares outstanding. The share price is currently -3.18 percent versus its SMA20, 3.37 percent versus its SMA50, and 14.2 percent versus its SMA200. The stock has a weekly performance of -0.45 percent and is 15.56 percent year-to-date as of the recent close.

March 7, 2017 — Ally Financial Inc. (ALLY) Ally Home Loans, the direct-to-consumer mortgage arm of Ally Bank, announced that it has broadened its product suite with the addition of the HomeReady® mortgage loan, a Fannie Mae product designed to serve creditworthy, low- to moderate-income borrowers.

Consumer-friendly features of the HomeReady loan include expanded eligibility for underwriting home loans, as well as the following benefits:

• Low down payment. Down payments for first-time and repeat homebuyers as low as 3 percent.
• Flexible sources of funds. Can be used for the down payment and closing costs with no minimum contribution required from the borrower’s own funds (1-unit properties).
• Affordable and cancellable monthly mortgage insurance (MI). Reduced MI coverage requirement above 90 percent LTV; cancellable MI (restrictions apply).
• Homeownership course. The online Framework® course prepares borrowers for sustainable home-ownership; other education and advising options are available.

State Street Corporation (STT) recently recorded -0.46 percent change and currently at $79.54 is 59.88 percent away from its 52-week low and down -4.73 percent versus its peak. It has a past 5-day performance of -0.1 percent and trades at an average volume of 2.21M shares. The stock has a 1-month performance of 2.05 percent and is 2.34 percent year-to-date as of the recent close. There were about 381.94M shares outstanding which made its market cap $30.38B. The share price is currently -0.69 percent versus its SMA20, 0.14 percent versus its SMA50, and 12.76 percent versus its SMA200.

February 24, 2017 — State Street Global Advisors, the asset management business of State Street Corporation (STT) announced that it has appointed Cyrus Taraporevala, current Global Head of Product and Marketing, to an expanded role overseeing all client- and consultant-facing, marketing and product functions for institutional clients across the Americas, EMEA and APAC.

“At State Street Global Advisors, our aspiration is to be the first investment call for every institution and intermediary,” said Ron O’Hanley, president and chief executive officer of State Street Global Advisors. “In that spirit, in Cyrus’ new role he will be responsible for ensuring we continue to improve and evolve the way we serve our institutional clients and consultants, in all aspects of what we deliver to them: from thought leadership, to distinctive products, to engagement efforts that help them diagnose and solve the complex financial challenges they face.”