Bank of Nova Scotia Makes New $2.28 Million Investment in Synchrony Financial $SYF

Bank of Nova Scotia bought a new position in Synchrony Financial (NYSE:SYF) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 30,009 shares of the financial services provider’s stock, valued at approximately $2,282,000.

A number of other institutional investors also recently modified their holdings of SYF. FWL Investment Management LLC acquired a new stake in shares of Synchrony Financial in the third quarter valued at approximately $26,000. Fideuram Asset Management Ireland dac acquired a new position in Synchrony Financial during the 4th quarter worth $29,000. Compass Financial Management LLC bought a new position in Synchrony Financial in the 2nd quarter valued at $29,000. Advisors Asset Management Inc. bought a new position in Synchrony Financial in the 4th quarter valued at $29,000. Finally, Palisade Asset Management LLC acquired a new stake in shares of Synchrony Financial in the 3rd quarter valued at $29,000. 96.48% of the stock is owned by institutional investors.

Synchrony Financial Stock Down 1.2%

NYSE:SYF opened at $79.84 on Thursday. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 1.08. Synchrony Financial has a 12-month low of $63.08 and a 12-month high of $88.77. The stock’s fifty day simple moving average is $76.49 and its 200-day simple moving average is $73.04. The firm has a market capitalization of $25.98 billion, a P/E ratio of 8.18, a P/E/G ratio of 0.74 and a beta of 1.32.

Synchrony Financial (NYSE:SYF) last released its earnings results on Tuesday, July 21st. The financial services provider reported $2.59 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.45. The firm had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.72 billion. Synchrony Financial had a return on equity of 23.09% and a net margin of 15.44%.During the same quarter in the prior year, the firm posted $2.50 earnings per share. Synchrony Financial has set its FY 2026 guidance at 9.250-9.500 EPS. Equities research analysts expect that Synchrony Financial will post 9.39 earnings per share for the current year.

Synchrony Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Wednesday, August 5th were given a $0.34 dividend. The ex-dividend date was Wednesday, August 5th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.7%. This is a positive change from Synchrony Financial’s previous quarterly dividend of $0.30. Synchrony Financial’s dividend payout ratio is 13.93%.

Analyst Ratings Changes

SYF has been the subject of a number of recent research reports. HSBC boosted their target price on Synchrony Financial from $93.00 to $97.00 and gave the stock a “buy” rating in a research report on Monday, July 13th. Robert W. Baird lifted their price objective on Synchrony Financial from $86.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 22nd. Royal Bank Of Canada dropped their price objective on Synchrony Financial from $85.00 to $80.00 and set a “sector perform” rating for the company in a report on Wednesday, July 22nd. TD Cowen upped their target price on shares of Synchrony Financial from $89.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. Finally, Loop Capital began coverage on shares of Synchrony Financial in a research note on Friday, May 22nd. They issued a “hold” rating and a $81.00 target price on the stock. Twelve analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $87.78.

Synchrony Financial Company Profile

Synchrony Financial (NYSE: SYF) is a consumer financial services company that specializes in providing point-of-sale financing and private-label, co-branded and branded credit card programs. The company serves as a payments and lending partner to retailers, digital merchants and service providers, offering consumer financing solutions designed to drive customer engagement and sales. Synchrony also operates a direct bank that offers deposit products, including savings accounts and certificates of deposit, which support its funding and customer-facing product suite.

Its core product set includes private-label and co-branded credit cards, general-purpose credit cards, installment loan programs and promotional financing options that are integrated into merchants’ checkout experiences.