Synchrony Financial reported an EPS of $1.94 for the quarter, exceeding the expected $1.77 by $0.17. The company achieved a revenue of $3.81 billion, surpassing the anticipated $3.76 billion. Its net margin was 13.52%, and return on equity was 16.06%, with a year-over-year revenue increase of 9.8%. Last year, the firm reported an EPS of $1.48.
Dividend Announcement
Synchrony Financial declared a quarterly dividend of $0.25, paid on August 15. Shareholders on record as of August 5 received this dividend, resulting in an annualized payout of $1.00 and a yield of 1.76%. The company’s dividend payout ratio is 13.89%.
Analyst Ratings and Price Targets
Analysts recently commented on Synchrony Financial. Baird upgraded its rating to “strong-buy,” while Evercore ISI lowered its price target from $59 to $58 but maintained an “outperform” rating. Barclays increased its target from $49 to $59, keeping an “equal weight” rating. StockNews.com upgraded their rating from “hold” to “buy.” JMP Securities also has a “market outperform” rating with a target of $60. Overall, analysts give an average rating of “Moderate Buy” with a target of $55.95.
Insider Trading
Insider Brian J. Sr. Wenzel sold 74,698 shares on August 19 at about $46.73 per share, totaling approximately $3.49 million. He still holds 76,251 shares. Another insider, Bart Schaller, sold 930 shares on August 1 at $50.84 each, totaling about $47,281, while holding 49,390 shares afterward. Company insiders own 0.33% of Synchrony’s stock.
Institutional Holdings
Several hedge funds have adjusted their Synchrony holdings. Dimensional Fund Advisors increased their stake by 4.9%, now owning $315.38 million worth of shares. Boston Partners upped their stake by 66.6%, owning $274.89 million worth. AQR Capital and Jacobs Levy also increased their holdings significantly. Overall, institutional investors own 96.48% of Synchrony Financial.
Stock Performance
Synchrony Financial has a 50-day moving average price of $49.23 and a 200-day average of $46.50. It has a market cap of $22.41 billion with a P/E ratio of 7.88.
About Synchrony Financial
Synchrony Financial is a consumer financial services company that offers credit products like cards and loans in the U.S.
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