Is Ally Financial Stock a Buy?
One of the key topics in the markets and the economy in 2023 has been the regional banking fiasco. Rapidly rising interest rates left many long-dated loans -- which some banks held on their balance sheets -- at a huge paper loss. That prompted customers to panic and move their deposits quickly in case these financial institutions failed.
This unfavorable situation, one that has really shined a spotlight on the banking industry, might discourage investors from even considering putting any money to work in the sector.
But it's a mistake to group together all bank stocks in the same category. In fact, some of them, like Ally Financial (NYSE: ALLY), are better than others. Here's why this online bank is a business that investors should think about buying right now.
Source Fool.com
