CNB Bank Grows Stock Position in Synchrony Financial $SYF

CNB Bank boosted its position in Synchrony Financial (NYSE:SYF) by 20,366.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 614 shares of the financial services provider’s stock after buying an additional 611 shares during the period. CNB Bank’s holdings in Synchrony Financial were worth $41,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of SYF. Nuveen LLC acquired a new stake in shares of Synchrony Financial in the 1st quarter worth $175,294,000. Massachusetts Financial Services Co. MA raised its holdings in Synchrony Financial by 755.7% during the first 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 in the last quarter. Assetmark Inc. lifted its position in Synchrony Financial by 129.5% in the first quarter. Assetmark Inc. now owns 3,051,160 shares of the financial services provider’s stock valued at $161,528,000 after purchasing an additional 1,721,891 shares during the period. Khrom Capital Management LLC acquired a new stake in shares of Synchrony Financial in the 1st quarter valued at approximately $73,699,000. Finally, Ameriprise Financial Inc. boosted its stake in shares of Synchrony Financial by 36.0% in the first quarter. Ameriprise Financial Inc. now owns 4,900,281 shares of the financial services provider’s stock valued at $259,421,000 after buying an additional 1,297,859 shares in the last quarter. 96.48% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Synchrony Financial

In related news, insider Darrell Owens sold 600 shares of the stock in a transaction on Monday, August 4th. The stock was sold at an average price of $67.95, for a total transaction of $40,770.00. Following 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brian J. Sr. Wenzel sold 8,514 shares of Synchrony Financial stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $70.00, for a total value of $595,980.00. Following the sale, the insider owned 68,588 shares of the company’s stock, valued at approximately $4,801,160. This represents a 11.04% decrease in their position. The disclosure for this sale can be found here. 0.32% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Keefe, Bruyette & Woods increased their price objective on Synchrony Financial from $82.00 to $86.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 1st. Hsbc Global Res upgraded shares of Synchrony Financial from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 9th. JMP Securities boosted their price objective on shares of Synchrony Financial from $77.00 to $88.00 and gave the stock a “market outperform” rating in a report on Thursday, September 25th. Truist Financial lowered their target price on shares of Synchrony Financial from $82.00 to $78.00 and set a “hold” rating on the stock in a research report on Friday, October 17th. Finally, Wells Fargo & Company lifted their price target on shares of Synchrony Financial from $80.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, October 16th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $81.38.

Synchrony Financial Stock Performance

NYSE:SYF opened at $74.82 on Friday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.91. The company has a market capitalization of $26.95 billion, a P/E ratio of 8.17, a price-to-earnings-growth ratio of 0.75 and a beta of 1.50. The firm has a 50-day moving average price of $73.60 and a two-hundred day moving average price of $65.76. Synchrony Financial has a twelve month low of $40.54 and a twelve month high of $77.41.

Synchrony Financial (NYSE:SYF) last announced its quarterly earnings results on Wednesday, October 15th. The financial services provider reported $2.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.22 by $0.64. Synchrony Financial had a net margin of 15.84% and a return on equity of 22.96%. The company had revenue of $3.82 billion for the quarter, compared to the consensus estimate of $3.79 billion. During the same quarter in the prior year, the firm earned $1.94 earnings per share. The company’s revenue for the quarter was up .2% compared to the same quarter last year. Synchrony Financial has set its FY 2025 guidance at EPS. As a group, research analysts expect that Synchrony Financial will post 7.67 earnings per share for the current fiscal year.

Synchrony Financial declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, October 15th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 3.7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Synchrony Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Wednesday, November 5th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Wednesday, November 5th. Synchrony Financial’s payout ratio is 13.10%.

About Synchrony Financial

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.