Synchrony Financial reported earnings of $1.94 per share, exceeding expectations of $1.77 by $0.17. The company’s revenue was $3.81 billion, above the forecast of $3.76 billion, marking a 9.8% increase from the previous year when earnings were $1.48 per share.
Dividend Announcement
Synchrony recently declared a quarterly dividend of $0.25, paid on August 15th to shareholders as of August 5th. The annual dividend totals $1.00, offering a yield of 1.77% with a payout ratio of 13.89%.
Analyst Opinions
Analysts have varied opinions on Synchrony Financial. JMP Securities maintains a “market outperform” rating with a $60 price target. Morgan Stanley raised its target from $37 to $40 but has a “underweight” rating. Bank of America upgraded its rating to “buy” with a $54 target. Overall, the consensus is a “Moderate Buy” with an average target price of $56.25.
Insider Transactions
Insider Brian J. Sr. Wenzel sold 74,698 shares on August 19th for approximately $3.49 million, retaining 76,251 shares valued at about $3.56 million. Bart Schaller sold 930 shares on August 1st for roughly $47,281, holding 49,390 shares valued at $2.51 million. Insiders own about 0.33% of the company.
Institutional Investment Activity
Several investors have recently changed their stakes in Synchrony Financial. Raymond James & Associates increased their stake by 31.3%, owning 386,875 shares worth nearly $19.3 million. Other institutions, like Blue Trust Inc., Aaron Wealth Advisors, and Vista Investment Partners, have also made significant adjustments to their holdings. Institutional investors control approximately 96.48% of the stock.
Current Stock Performance
Synchrony Financial’s market cap is $22.30 billion, with a PE ratio of 7.84. The stock has a 50-day moving average of $49.43 and a 200-day moving average of $46.60. The quick ratio, current ratio, and debt-to-equity ratio stand at 1.23, 1.23, and 1.09, respectively.
Company Overview
Synchrony Financial is a consumer financial services provider in the U.S., offering credit products, private label cards, and various banking products, including savings and retirement accounts.
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