Strs Ohio Trims Holdings in Synchrony Financial $SYF

Strs Ohio cut its stake in Synchrony Financial (NYSE:SYF) by 2.7% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 38,548 shares of the financial services provider’s stock after selling 1,070 shares during the quarter. Strs Ohio’s holdings in Synchrony Financial were worth $2,573,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Zions Bancorporation National Association UT purchased a new position in Synchrony Financial during the first quarter worth about $30,000. Geneos Wealth Management Inc. grew its position in Synchrony Financial by 337.0% during the first quarter. Geneos Wealth Management Inc. now owns 590 shares of the financial services provider’s stock worth $31,000 after buying an additional 455 shares in the last quarter. MAI Capital Management grew its position in Synchrony Financial by 36.3% during the first quarter. MAI Capital Management now owns 627 shares of the financial services provider’s stock worth $33,000 after buying an additional 167 shares in the last quarter. Headlands Technologies LLC purchased a new position in Synchrony Financial during the first quarter worth about $34,000. Finally, CNB Bank grew its position in Synchrony Financial by 20,366.7% during the second quarter. CNB Bank now owns 614 shares of the financial services provider’s stock worth $41,000 after buying an additional 611 shares in the last quarter. 96.48% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Hsbc Global Res upgraded Synchrony Financial from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 9th. Royal Bank Of Canada lifted their price target on Synchrony Financial from $75.00 to $78.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 23rd. Wall Street Zen raised Synchrony Financial from a “hold” rating to a “buy” rating in a research note on Saturday, September 20th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Synchrony Financial in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $75.00 price target (down previously from $80.00) on shares of Synchrony Financial in a research note on Tuesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, Synchrony Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $81.38.

Synchrony Financial Trading Down 0.6%

NYSE SYF opened at $73.95 on Tuesday. Synchrony Financial has a 1-year low of $40.54 and a 1-year high of $77.41. 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 stock has a 50-day moving average of $73.82 and a 200-day moving average of $67.12. The firm has a market cap of $26.64 billion, a PE ratio of 8.07, a price-to-earnings-growth ratio of 0.74 and a beta of 1.51.

Synchrony Financial (NYSE:SYF) last released its earnings results on Wednesday, October 15th. The financial services provider reported $2.86 earnings per share for the quarter, beating analysts’ consensus estimates of $2.22 by $0.64. Synchrony Financial had a return on equity of 22.96% and a net margin of 15.84%.The company had revenue of $3.82 billion during the quarter, compared to analyst estimates of $3.79 billion. During the same quarter in the previous year, the company posted $1.94 EPS. Synchrony Financial’s revenue for the quarter was up .2% 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 year.

Synchrony Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Wednesday, November 5th will be paid 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%.

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

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.