5 Best Money-Making Stocks to Buy Now

3. Ally Financial Inc. (NYSE:ALLY)

Number of Hedge Funds: 57

Total Value of Hedge Fund Holdings: $2,517,368,000

1-Year Forward Dividend Yield: 2.12%

Ally Financial Inc. (NYSE:ALLY) is a diversified financial services company based out of Detroit, Michigan. The company is one of the largest auto financing providers in the US, with 4.1 million customers entertained by over 10,000 employees.

Ally Financial Inc. (NYSE:ALLY) has over 2.45 million depositors with $139 billion in total deposits and over 503,000 brokerage accounts with a holding of $16.3 billion in assets. On October 6, Ally Financial Inc. (NYSE:ALLY) revealed a quarterly dividend of 25 cents per share to be paid on November 15 to all the shareholders in possession of the stock on November 1.

On December 1, David Long at Raymond James initiated coverage on Ally Financial Inc. (NYSE:ALLY) with a Buy rating and a price target of $55. The analyst is bullish on the outlook of the bank due to the diversification of its business model along with strong growth in customers. Long also anticipates an expansion in net interest margin (NIM) due to an increase in asset yields and optimization of Ally Financial Inc.’s (NYSE:ALLY) liabilities.