This Buffett Stock Just Lowered Its Guidance for the Year, but the Long-Term Thesis Remains Intact

Warren Buffett's Berkshire Hathaway purchased shares in the large digital consumer bank Ally Financial (NYSE: ALLY) in two different quarters last year and now owns just shy of a 10% stake in the company. Like most banks, there has been a lot of uncertainty over Ally as the economy potentially tips into a recession, especially after the banking crisis unfolded in March. On Ally's last quarterly earnings call in January, management told investors that the company could generate $4 of earnings per share in 2023.