Synchrony Financial $SYF Shares Sold by S&T Bank PA

S&T Bank PA lessened its position in shares of Synchrony Financial (NYSE:SYF) by 9.0% during the 2nd quarter, Holdings Channel reports. The firm owned 44,084 shares of the financial services provider’s stock after selling 4,354 shares during the quarter. S&T Bank PA’s holdings in Synchrony Financial were worth $2,942,000 as of its most recent filing with the SEC.

Other institutional investors have also recently modified their holdings of the company. Nuveen LLC acquired a new stake in shares of Synchrony Financial during the first quarter worth about $175,294,000. Massachusetts Financial Services Co. MA raised its position in Synchrony Financial by 755.7% during 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 buying an additional 1,925,217 shares during the last quarter. Assetmark Inc. lifted its stake in Synchrony Financial by 129.5% during the 1st quarter. Assetmark Inc. now owns 3,051,160 shares of the financial services provider’s stock valued at $161,528,000 after acquiring an additional 1,721,891 shares during the period. Khrom Capital Management LLC acquired a new stake in Synchrony Financial during the 1st quarter valued at approximately $73,699,000. Finally, Ameriprise Financial Inc. boosted its holdings 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 valued at $259,421,000 after acquiring an additional 1,297,859 shares during the last quarter. 96.48% of the stock is currently owned by hedge funds and other institutional investors.

Synchrony Financial Stock Down 1.1%

Synchrony Financial stock opened at $73.54 on Friday. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.24 and a quick ratio of 1.24. The stock has a market capitalization of $26.49 billion, a PE ratio of 8.03, a price-to-earnings-growth ratio of 0.74 and a beta of 1.51. The business has a 50 day simple moving average of $73.69 and a 200-day simple moving average of $67.39. Synchrony Financial has a 12 month low of $40.54 and a 12 month high of $77.41.

Synchrony Financial (NYSE:SYF) last released its quarterly earnings results on Wednesday, October 15th. The financial services provider reported $2.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.22 by $0.64. Synchrony Financial had a net margin of 15.84% and a return on equity of 22.96%. The firm had revenue of $3.82 billion for the quarter, compared to analysts’ expectations of $3.79 billion. During the same quarter last year, the company earned $1.94 EPS. The firm’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. On average, analysts anticipate that Synchrony Financial will post 7.67 EPS for the current fiscal year.

Synchrony Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Wednesday, November 5th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Wednesday, November 5th. Synchrony Financial’s payout ratio is presently 13.10%.

Synchrony Financial declared that its Board of Directors has authorized a stock buyback program on Wednesday, October 15th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 3.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on SYF. Weiss Ratings restated a “buy (b-)” rating on shares of Synchrony Financial in a research report on Wednesday, October 8th. Wall Street Zen raised Synchrony Financial from a “hold” rating to a “buy” rating in a report on Saturday, September 20th. Morgan Stanley upped their target price on Synchrony Financial from $72.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Monday, September 29th. Keefe, Bruyette & Woods upped 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. Finally, BTIG Research reaffirmed a “buy” rating and set a $100.00 target price on shares of Synchrony Financial in a report on Thursday, October 16th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $81.38.

Insider Activity at Synchrony Financial

In other news, insider Curtis Howse sold 12,086 shares of the company’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $74.02, for a total transaction of $894,605.72. Following the completion of the sale, the insider owned 108,271 shares of the company’s stock, valued at $8,014,219.42. This represents a 10.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Darrell Owens sold 2,989 shares of the business’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $74.02, for a total transaction of $221,245.78. Following the transaction, the insider owned 16,096 shares in the company, valued at $1,191,425.92. The trade was a 15.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 23,075 shares of company stock valued at $1,707,292. 0.32% of the stock is owned by insiders.

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.