Synchrony Financial $SYF Shares Purchased by US Bancorp DE

US Bancorp DE lifted its holdings in Synchrony Financial (NYSE:SYF) by 0.8% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 63,476 shares of the financial services provider’s stock after acquiring an additional 524 shares during the quarter. US Bancorp DE’s holdings in Synchrony Financial were worth $4,237,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in SYF. Nuveen LLC acquired a new position in shares of Synchrony Financial in the 1st quarter worth approximately $175,294,000. Massachusetts Financial Services Co. MA grew its stake in shares of Synchrony Financial by 755.7% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,179,984 shares of the financial services provider’s stock worth $115,408,000 after purchasing an additional 1,925,217 shares during the last quarter. Assetmark Inc. grew its stake in shares of Synchrony Financial by 129.5% in the 1st quarter. Assetmark Inc. now owns 3,051,160 shares of the financial services provider’s stock worth $161,528,000 after purchasing an additional 1,721,891 shares during the last quarter. Khrom Capital Management LLC acquired a new position in shares of Synchrony Financial in the 1st quarter worth approximately $73,699,000. Finally, Ameriprise Financial Inc. grew its stake in shares of Synchrony Financial by 36.0% in the 1st quarter. Ameriprise Financial Inc. now owns 4,900,281 shares of the financial services provider’s stock worth $259,421,000 after purchasing an additional 1,297,859 shares during the last quarter. Institutional investors and hedge funds own 96.48% of the company’s stock.

Synchrony Financial Trading Up 3.2%

Synchrony Financial stock opened at $70.19 on Tuesday. The company’s fifty day simple moving average is $73.24 and its 200-day simple moving average is $64.33. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.02. Synchrony Financial has a 12 month low of $40.54 and a 12 month high of $77.41. The stock has a market cap of $26.12 billion, a P/E ratio of 8.52, a P/E/G ratio of 0.68 and a beta of 1.50.

Synchrony Financial (NYSE:SYF) last posted its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $2.50 EPS for the quarter, beating the consensus estimate of $1.72 by $0.78. Synchrony Financial had a net margin of 14.43% and a return on equity of 21.34%. The business had revenue of $3.65 billion for the quarter, compared to analysts’ expectations of $3.71 billion. During the same period in the previous year, the company posted $1.55 EPS. Synchrony Financial’s revenue was down 1.8% on a year-over-year basis. Synchrony Financial has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that Synchrony Financial will post 7.67 EPS for the current fiscal year.

Synchrony Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Tuesday, August 5th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Tuesday, August 5th. Synchrony Financial’s payout ratio is currently 14.56%.

Wall Street Analyst Weigh In

SYF has been the topic of several recent research reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Synchrony Financial in a research note on Wednesday, October 8th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $75.00 target price (down from $80.00) on shares of Synchrony Financial in a research report on Tuesday, October 7th. Morgan Stanley lifted their target price on shares of Synchrony Financial from $72.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Monday, September 29th. Wall Street Zen raised shares of Synchrony Financial from a “hold” rating to a “buy” rating in a research report on Saturday, September 20th. Finally, Hsbc Global Res raised shares of Synchrony Financial from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $77.45.

Insider Buying and Selling at Synchrony Financial

In other Synchrony Financial news, insider Brian J. Sr. Wenzel sold 8,514 shares of Synchrony Financial stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $70.00, for a total value of $595,980.00. Following the completion of the sale, the insider directly owned 68,588 shares in the company, valued at $4,801,160. The trade was a 11.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Darrell Owens sold 600 shares of Synchrony Financial stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $67.95, for a total transaction of $40,770.00. Following the completion of the sale, the insider owned 21,372 shares of the company’s stock, valued at $1,452,227.40. This trade represents a 2.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.

Synchrony Financial Profile

Synchrony Financial, together with its subsidiaries, operates as a consumer financial services company in the United States. It provides credit products, such as credit cards, commercial credit products, and consumer installment loans. The company also offers private label credit cards, dual co-brand and general purpose credit cards, short- and long-term installment loans, and consumer banking products; and deposit products, including certificates of deposit, individual retirement accounts, money market accounts, and savings accounts, and sweep and affinity deposits, as well as accepts deposits through third-party securities brokerage firms.