CIBC Asset Management Inc Grows Holdings in Synchrony Financial $SYF

CIBC Asset Management Inc grew its holdings in Synchrony Financial (NYSE:SYF) by 55.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 85,708 shares of the financial services provider’s stock after acquiring an additional 30,433 shares during the quarter. CIBC Asset Management Inc’s holdings in Synchrony Financial were worth $7,151,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. State Street Corp increased its stake in Synchrony Financial by 1.0% in the third quarter. State Street Corp now owns 19,080,903 shares of the financial services provider’s stock worth $1,355,698,000 after purchasing an additional 191,920 shares during the period. Bank of America Corp DE increased its stake in Synchrony Financial by 5.4% in the third quarter. Bank of America Corp DE now owns 14,335,213 shares of the financial services provider’s stock worth $1,018,517,000 after purchasing an additional 739,832 shares during the period. Ameriprise Financial Inc. increased its stake in Synchrony Financial by 8.3% in the second quarter. Ameriprise Financial Inc. now owns 5,307,077 shares of the financial services provider’s stock worth $354,194,000 after purchasing an additional 406,796 shares during the period. Nordea Investment Management AB increased its stake in Synchrony Financial by 13.0% in the fourth quarter. Nordea Investment Management AB now owns 5,134,903 shares of the financial services provider’s stock worth $431,999,000 after purchasing an additional 592,567 shares during the period. Finally, Norges Bank purchased a new stake in Synchrony Financial in the fourth quarter worth $383,231,000. Hedge funds and other institutional investors own 96.48% of the company’s stock.

Synchrony Financial Price Performance

Shares of NYSE SYF opened at $70.85 on Friday. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.24 and a current ratio of 1.24. The company has a market cap of $23.83 billion, a PE ratio of 7.33, a P/E/G ratio of 0.62 and a beta of 1.33. The business has a 50-day simple moving average of $72.31 and a two-hundred day simple moving average of $74.62. Synchrony Financial has a fifty-two week low of $58.31 and a fifty-two week high of $88.77.

Synchrony Financial (NYSE:SYF) last issued its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $2.27 earnings per share for the quarter, topping the consensus estimate of $2.14 by $0.13. The business had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.81 billion. Synchrony Financial had a return on equity of 23.41% and a net margin of 15.80%.The company’s quarterly revenue was down 7.4% on a year-over-year basis. During the same quarter last year, the company earned $1.89 earnings per share. Synchrony Financial has set its FY 2026 guidance at 9.100-9.500 EPS. As a group, equities analysts expect that Synchrony Financial will post 9.29 EPS for the current fiscal year.

Synchrony Financial announced that its board has approved a share buyback program on Tuesday, April 21st that permits the company to buyback $0.00 in shares. This buyback authorization permits the financial services provider to buy shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

Synchrony Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Tuesday, May 5th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Tuesday, May 5th. Synchrony Financial’s dividend payout ratio (DPR) is currently 12.41%.

Insiders Place Their Bets

In other Synchrony Financial news, insider Jonathan S. Mothner sold 51,258 shares of the firm’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $71.23, for a total value of $3,651,107.34. Following the completion of the sale, the insider owned 132,664 shares of the company’s stock, valued at approximately $9,449,656.72. This trade represents a 27.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on SYF. Wells Fargo & Company cut their price target on Synchrony Financial from $100.00 to $95.00 and set an “overweight” rating on the stock in a research note on Thursday, April 9th. Robert W. Baird raised their price target on Synchrony Financial from $83.00 to $86.00 and gave the company an “outperform” rating in a research note on Wednesday, April 22nd. Weiss Ratings restated a “buy (b-)” rating on shares of Synchrony Financial in a research note on Monday, April 20th. Loop Capital began coverage on Synchrony Financial in a research note on Friday, May 22nd. They set a “hold” rating and a $81.00 price target on the stock. Finally, Truist Financial raised their price target on Synchrony Financial from $71.00 to $82.00 and gave the company a “hold” rating in a research note on Thursday, April 23rd. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $86.05.

About Synchrony Financial

Synchrony Financial (NYSE: SYF) is a consumer financial services company that specializes in providing point-of-sale financing and private-label, co-branded and branded credit card programs. The company serves as a payments and lending partner to retailers, digital merchants and service providers, offering consumer financing solutions designed to drive customer engagement and sales. Synchrony also operates a direct bank that offers deposit products, including savings accounts and certificates of deposit, which support its funding and customer-facing product suite.

Its core product set includes private-label and co-branded credit cards, general-purpose credit cards, installment loan programs and promotional financing options that are integrated into merchants’ checkout experiences.