HB Wealth Management LLC Increases Holdings in Synchrony Financial $SYF

Key Points

• HB Wealth Management LLC increased its holdings in Synchrony Financial by 48.1% in the 2nd quarter, now owning 11,783 shares valued at approximately $786,000.
• Synchrony Financial reported $2.50 earnings per share, exceeding analysts' expectations, but its revenue declined by 1.8% year-over-year.
• The company announced a quarterly dividend of $0.30, yielding 1.7%, highlighting a dividend payout ratio of 14.56%.

HB Wealth Management LLC lifted its position in shares of Synchrony Financial (NYSE:SYF - Free Report) by 48.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,783 shares of the financial services provider's stock after acquiring an additional 3,829 shares during the quarter. HB Wealth Management LLC's holdings in Synchrony Financial were worth $786,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Zions Bancorporation National Association UT purchased a new stake in Synchrony Financial in the 1st quarter valued at approximately $30,000. Geneos Wealth Management Inc. lifted its stake in Synchrony Financial by 337.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 590 shares of the financial services provider's stock valued at $31,000 after buying an additional 455 shares in the last quarter. MAI Capital Management lifted its stake in Synchrony Financial by 36.3% in the 1st quarter. MAI Capital Management now owns 627 shares of the financial services provider's stock valued at $33,000 after buying an additional 167 shares in the last quarter. Headlands Technologies LLC purchased a new stake in Synchrony Financial in the 1st quarter valued at approximately $34,000. Finally, CVA Family Office LLC lifted its stake in Synchrony Financial by 355.9% in the 1st quarter. CVA Family Office LLC now owns 693 shares of the financial services provider's stock valued at $37,000 after buying an additional 541 shares in the last quarter. Hedge funds and other institutional investors own 96.48% of the company's stock.

Synchrony Financial Stock Up 1.4%

Shares of NYSE SYF opened at $71.24 on Friday. Synchrony Financial has a 12-month low of $40.54 and a 12-month high of $77.41. The company has a market cap of $26.50 billion, a P/E ratio of 8.65, a P/E/G ratio of 0.71 and a beta of 1.50. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.02. The stock has a fifty day moving average price of $73.21 and a 200 day moving average price of $63.53.

Synchrony Financial (NYSE:SYF - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $2.50 earnings per share for the quarter, beating analysts' consensus estimates of $1.72 by $0.78. The company had revenue of $3.65 billion during the quarter, compared to analysts' expectations of $3.71 billion. Synchrony Financial had a net margin of 14.43% and a return on equity of 21.34%. The firm's revenue for the quarter was down 1.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.55 EPS. Synchrony Financial has set its FY 2025 guidance at EPS. Research analysts anticipate that Synchrony Financial will post 7.67 EPS for the current fiscal year.

Synchrony Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Tuesday, August 5th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Tuesday, August 5th. Synchrony Financial's dividend payout ratio is presently 14.56%.

Insider Transactions at Synchrony Financial

In other Synchrony Financial news, insider Brian J. Sr. Wenzel sold 8,514 shares of the company's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $70.00, for a total value of $595,980.00. Following the completion of the transaction, the insider directly owned 68,588 shares of the company's stock, valued at $4,801,160. This represents a 11.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Darrell Owens sold 600 shares of the company's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $67.95, for a total transaction of $40,770.00. Following the completion of the transaction, the insider directly owned 21,372 shares of the company's stock, valued at approximately $1,452,227.40. The trade was a 2.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.32% of the company's stock.

Analyst Ratings Changes

A number of research firms recently issued reports on SYF. Royal Bank Of Canada upped their target price on Synchrony Financial from $75.00 to $78.00 and gave the company a "sector perform" rating in a research note on Wednesday, July 23rd. Evercore ISI increased their price target on Synchrony Financial from $83.00 to $84.00 and gave the stock an "outperform" rating in a research note on Tuesday. Keefe, Bruyette & Woods increased their price target on Synchrony Financial from $82.00 to $86.00 and gave the stock an "outperform" rating in a research note on Wednesday. Morgan Stanley increased their price target 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. Finally, Truist Financial increased their price target on Synchrony Financial from $68.00 to $76.00 and gave the stock a "hold" rating in a research note on Thursday, July 24th. Thirteen research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $76.68.

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.

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