Synchrony Financial reported earnings of $1.94 per share this quarter, exceeding the expected $1.77 by $0.17. Revenue was $3.81 billion, higher than the anticipated $3.76 billion. The company had a net margin of 13.52% and a return on equity of 16.06%, with a year-over-year revenue increase of 9.8%. Last year, earnings were $1.48 per share.
Dividend Announcement
Synchrony Financial declared a quarterly dividend of $0.25, paid on August 15. This equates to an annual dividend of $1.00 and a yield of 1.76%. The dividend payout ratio is 13.89%.
Analyst Ratings
Recent analyst updates include:
- Baird R W gave a “strong-buy” rating.
- Evercore ISI lowered the price target from $59 to $58.
- Barclays raised the target from $49 to $59.
- StockNews.com upgraded to a “buy” rating.
- JMP Securities set a $60 price target.
Overall, the stock has one sell, eight hold, thirteen buy, and one strong-buy ratings, with an average price target of $55.95.
Insider Transactions
Insider Brian J. Sr. Wenzel sold 74,698 shares at $46.73 each for $3.49 million on August 19. After this, he still owns 76,251 shares. Insider Bart Schaller also sold 930 shares at $50.84.
Institutional Holdings
Hedge funds have increased their stakes in Synchrony Financial, with Dimensional Fund Advisors boosting their stake by 4.9%, and Boston Partners by 66.6%. Institutional investors now own 96.48% of the stock.
Stock Performance
Synchrony Financial’s stock has moved up 0.3%, with a 50-day moving average of $49.23 and a market cap of $22.41 billion.
About Synchrony Financial
Synchrony Financial offers consumer financial services, including credit cards, loans, and various deposit products.
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