Westpac Banking Corp Buys New Shares in Synchrony Financial $SYF

Westpac Banking Corp bought a new position in shares of Synchrony Financial (NYSE:SYF) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 76,356 shares of the financial services provider’s stock, valued at approximately $5,807,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SYF. BlackRock Inc. acquired a new stake in Synchrony Financial in the second quarter valued at $2,349,452,000. Norges Bank acquired a new position in shares of Synchrony Financial during the 4th quarter worth about $383,231,000. Bank of America Corp DE increased its stake in shares of Synchrony Financial by 34.6% during the 2nd quarter. Bank of America Corp DE now owns 13,595,381 shares of the financial services provider’s stock worth $907,356,000 after purchasing an additional 3,494,741 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Synchrony Financial during the 2nd quarter worth about $193,684,000. Finally, Deutsche Bank AG bought a new stake in shares of Synchrony Financial in the 2nd quarter valued at about $186,973,000. 96.48% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

SYF has been the subject of several recent analyst reports. TD Cowen raised their target price on shares of Synchrony Financial from $89.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. Robert W. Baird upped their price objective on Synchrony Financial from $86.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, July 22nd. Royal Bank Of Canada cut their price objective on Synchrony Financial from $85.00 to $80.00 and set a “sector perform” rating for the company in a research report on Wednesday, July 22nd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Synchrony Financial in a research note on Friday, July 17th. Finally, Loop Capital assumed coverage on Synchrony Financial in a report on Friday, May 22nd. They set a “hold” rating and a $81.00 target price on the stock. Twelve investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $87.89.

Synchrony Financial Stock Performance

SYF opened at $79.53 on Friday. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.22 and a quick ratio of 1.22. The company has a market capitalization of $25.88 billion, a PE ratio of 8.15, a price-to-earnings-growth ratio of 0.70 and a beta of 1.32. The business has a fifty day simple moving average of $76.16 and a 200 day simple moving average of $72.92. Synchrony Financial has a 1 year low of $63.08 and a 1 year high of $88.77.

Synchrony Financial (NYSE:SYF) last announced its earnings results on Tuesday, July 21st. The financial services provider reported $2.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.14 by $0.45. The company had revenue of $3.72 billion during the quarter, compared to analysts’ expectations of $3.72 billion. Synchrony Financial had a net margin of 15.44% and a return on equity of 23.09%. During the same quarter in the previous year, the business posted $2.50 earnings per share. Synchrony Financial has set its FY 2026 guidance at 9.250-9.500 EPS. Research analysts expect that Synchrony Financial will post 9.37 EPS for the current year.

Synchrony Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Shareholders of record on Wednesday, August 5th were issued a $0.34 dividend. The ex-dividend date of this dividend was Wednesday, August 5th. This represents a $1.36 dividend on an annualized basis and a yield of 1.7%. This is an increase from Synchrony Financial’s previous quarterly dividend of $0.30. Synchrony Financial’s payout ratio is presently 13.93%.

About Synchrony Financial

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.