Cibc World Market Inc. Makes New Investment in Synchrony Financial $SYF

Key Points

• Cibc World Market Inc. acquired 30,575 shares of Synchrony Financial during the second quarter, valued at approximately $2.3 million. Institutional investors collectively own 96.48% of the company.
• Analyst sentiment remains favorable, with 12 Buy ratings and seven Holds; Synchrony has an overall “Moderate Buy” rating and an average price target of $87.78.
• Synchrony reported quarterly EPS of $2.59, beating estimates of $2.14, and increased its quarterly dividend from $0.30 to $0.34 per share, implying a 1.7% yield.

Cibc World Market Inc. acquired a new stake in shares of Synchrony Financial (NYSE:SYF - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 30,575 shares of the financial services provider's stock, valued at approximately $2,325,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. World Investment Advisors raised its position in shares of Synchrony Financial by 0.6% in the 1st quarter. World Investment Advisors now owns 22,874 shares of the financial services provider's stock worth $1,556,000 after acquiring an additional 134 shares in the last quarter. Cullen Frost Bankers Inc. boosted its position in shares of Synchrony Financial by 7.3% during the fourth quarter. Cullen Frost Bankers Inc. now owns 1,995 shares of the financial services provider's stock valued at $166,000 after purchasing an additional 135 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in Synchrony Financial by 3.1% in the second quarter. Smartleaf Asset Management LLC now owns 5,027 shares of the financial services provider's stock worth $333,000 after purchasing an additional 149 shares during the period. Legacy Financial Advisors Inc. grew its stake in Synchrony Financial by 5.1% in the fourth quarter. Legacy Financial Advisors Inc. now owns 3,109 shares of the financial services provider's stock worth $259,000 after purchasing an additional 152 shares during the period. Finally, WealthTrust Asset Management LLC raised its holdings in Synchrony Financial by 0.9% in the first quarter. WealthTrust Asset Management LLC now owns 17,452 shares of the financial services provider's stock worth $1,187,000 after purchasing an additional 156 shares in the last quarter. Hedge funds and other institutional investors own 96.48% of the company's stock.

Analyst Ratings Changes

SYF has been the subject of several recent research reports. HSBC raised their price objective on Synchrony Financial from $93.00 to $97.00 and gave the company a "buy" rating in a research report on Monday, July 13th. UBS Group upped their target price on shares of Synchrony Financial from $84.00 to $87.00 and gave the stock a "neutral" rating in a research report on Monday, August 3rd. Weiss Ratings reiterated a "buy (b-)" rating on shares of Synchrony Financial in a research note on Friday, July 17th. TD Cowen lifted their price target 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, Wolfe Research boosted their price objective on shares of Synchrony Financial from $85.00 to $90.00 and gave the stock an "outperform" rating in a research note on Tuesday. Twelve equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $87.78.

Synchrony Financial Trading Down 1.2%

Synchrony Financial stock opened at $79.84 on Thursday. Synchrony Financial has a 12 month low of $63.08 and a 12 month high of $88.77. The company has a market capitalization of $25.98 billion, a price-to-earnings ratio of 8.18, a price-to-earnings-growth ratio of 0.74 and a beta of 1.32. The business's fifty day simple moving average is $76.49 and its two-hundred day simple moving average is $73.04. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 1.08.

Synchrony Financial (NYSE:SYF - Get Free Report) last announced its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $2.59 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.14 by $0.45. The company had revenue of $3.72 billion for 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 EPS. Synchrony Financial has set its FY 2026 guidance at 9.250-9.500 EPS. As a group, equities analysts predict that Synchrony Financial will post 9.39 earnings per share for the current fiscal year.

Synchrony Financial Increases Dividend

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

Synchrony Financial 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source