Strs Ohio Sells 1,070 Shares of Synchrony Financial $SYF

Strs Ohio trimmed its stake in shares of Synchrony Financial (NYSE:SYF) by 2.7% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 38,548 shares of the financial services provider’s stock after selling 1,070 shares during the quarter. Strs Ohio’s holdings in Synchrony Financial were worth $2,573,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Zions Bancorporation National Association UT bought a new stake in shares of Synchrony Financial during the 1st quarter worth $30,000. Geneos Wealth Management Inc. lifted its position in shares of Synchrony Financial by 337.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 590 shares of the financial services provider’s stock worth $31,000 after buying an additional 455 shares during the last quarter. CNB Bank lifted its position in shares of Synchrony Financial by 20,366.7% during the 2nd quarter. CNB Bank now owns 614 shares of the financial services provider’s stock worth $41,000 after buying an additional 611 shares during the last quarter. MAI Capital Management lifted its position in shares of Synchrony Financial by 36.3% during the 1st quarter. MAI Capital Management now owns 627 shares of the financial services provider’s stock worth $33,000 after buying an additional 167 shares during the last quarter. Finally, Ameritas Advisory Services LLC bought a new position in Synchrony Financial in the second quarter valued at about $43,000. 96.48% of the stock is currently owned by institutional investors.

Synchrony Financial Trading Down 0.6%

Shares of Synchrony Financial stock opened at $73.95 on Tuesday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.24 and a current ratio of 1.24. Synchrony Financial has a 52 week low of $40.54 and a 52 week high of $77.41. The stock has a 50 day moving average price of $73.82 and a two-hundred day moving average price of $67.12. The stock has a market capitalization of $26.64 billion, a PE ratio of 8.07, a price-to-earnings-growth ratio of 0.74 and a beta of 1.51.

Synchrony Financial (NYSE:SYF) last announced its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $2.86 EPS for the quarter, beating analysts’ consensus estimates of $2.22 by $0.64. Synchrony Financial had a return on equity of 22.96% and a net margin of 15.84%.The firm had revenue of $3.82 billion during the quarter, compared to analysts’ expectations of $3.79 billion. During the same quarter last year, the firm posted $1.94 earnings per share. The company’s revenue for the quarter was up .2% compared to the same quarter last year. Synchrony Financial has set its FY 2025 guidance at EPS. As a group, equities analysts anticipate that Synchrony Financial will post 7.67 earnings per share for the current fiscal year.

Synchrony Financial announced that its Board of Directors has approved a share buyback program on Wednesday, October 15th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the financial services provider to repurchase up to 3.7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Synchrony Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Wednesday, November 5th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Wednesday, November 5th. Synchrony Financial’s dividend payout ratio (DPR) is currently 13.10%.

Wall Street Analysts Forecast Growth

SYF has been the subject of several research reports. JMP Securities increased their target price on Synchrony Financial from $77.00 to $88.00 and gave the company a “market outperform” rating in a research report on Thursday, September 25th. Hsbc Global Res upgraded Synchrony Financial from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 9th. Wells Fargo & Company increased their price target on Synchrony Financial from $80.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, October 16th. Weiss Ratings restated a “buy (b-)” rating on shares of Synchrony Financial in a research report on Wednesday, October 8th. Finally, Evercore ISI raised their price objective on Synchrony Financial from $83.00 to $84.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 30th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Synchrony Financial presently has an average rating of “Moderate Buy” and a consensus price target of $81.38.

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.