Synchrony Financial reported earnings of $1.94 per share, exceeding analysts’ estimates of $1.77. Revenue for the quarter was $3.81 billion, surpassing expectations of $3.76 billion, marking a 9.8% year-over-year increase. Last year, they earned $1.48 EPS.
Dividend Announcement
Synchrony Financial declared a quarterly dividend of $0.25, paid on August 15th, with a yearly yield of 1.76%. The ex-dividend date was August 5th, and the current payout ratio is 13.89%.
Analyst Ratings
Analysts recently upgraded Synchrony Financial. Baird R W raised it to “strong-buy,” while Barclays increased its target price from $49 to $59. StockNews.com shifted from “hold” to “buy.” Currently, the stock has an average rating of “Moderate Buy” and a price target of $55.95.
Insider Transactions
Insider Brian Wenzel sold 74,698 shares for approximately $3.49 million, reducing his ownership slightly. Another insider, Bart Schaller, sold 930 shares for about $47,281. Company insiders own 0.33% of shares.
Institutional Holdings
Institutional investors own 96.48% of Synchrony Financial. Recent increases in holdings include Dimensional Fund Advisors (up 4.9%) and Boston Partners (up 66.6%).
Current Trading Status
Synchrony Financial’s market cap is $22.41 billion, with a P/E ratio of 7.88. The 50-day moving average price is $49.23.
About Synchrony Financial
Synchrony Financial offers consumer financial services, including credit cards, loans, and deposit products.
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