Looking ahead, analysts are optimistic about the stock’s prospect putting the average price target at $25.23, which implies 38% upside potential over the coming year. Intuit announced plans to buy Credit Karma, Lending Club plans to acquire Radius Bank, Ally Financial plans to acquire CardWorks.

The two companies said Wednesday they had agreed to terminate the merger agreement they had announced in February, citing the impact of the COVID-19 pandemic. If your credit score is high, you’ve probably never heard of. Since the initial announcement of the merger agreement in mid-February, Ally shares have plunged some 44%. Matthew Heller JAlly Financial will not be completing its 2.7 billion acquisition of CardWorks, dealing a blow to its plans to diversify beyond auto loans. Last week, Ally Bank announced that they’re planning to buy CardWorks, the parent company of Merrick Bank, for 2.6 billion. 48 ally financial auto Ally survey reveals heightened ally. Ally Financial (NYSE:ALLY) slumps 9.0 in premarket trading as investors digest the firm's agreement to buy CardWorks in a transaction valued at 2.65B that will give Ally an established credit. ('cardworks'), a leading non-prime credit card and consumer finance lender with a full-spectrum unsecured.

Sandler raised Ally’s price target to $27 from $25 and reiterated a Buy rating, saying that he expects a 'strong positive stock reaction' with Ally no longer committed to a 'heavily-dilutive transaction”. Ally Financial to Acquire CardWorks in ally financial auto Ally Financial joins Johnson, No. 18, 2020 /prnewswire/ - cardholder management services, inc. The companies cited 'the unprecedented economic and market conditions resulting from the COVID-19 global pandemic.' Neither company will incur termination or breakup fees, Ally said. Piper Sandler analyst Kevin Barker said the termination of the CardWorks merger is 'clearly a positive development' given the dilution to tangible book value combined with a very long earn-back period for a company with heavy exposure to subprime consumer credit. Ally Financial and CardWorks are terminating their planned 2.65 billion merger, the companies announced Wednesday in a press release.

The transaction would have included about $1.35 billion of cash and $1.30 billion in Ally common stock. Under the terms of the initial agreement announced in February, Ally Financial offered to buy credit card and consumer finance lender CardWorks in a deal valued at about $2.65 billion.

Ally cardworks