Cibc World Market Inc. Acquires New Stake in Synchrony Financial $SYF

Cibc World Market Inc. acquired a new position in Synchrony Financial (NYSE:SYF) during the 2nd quarter, Holdings Channel reports. The firm acquired 30,575 shares of the financial services provider’s stock, valued at approximately $2,325,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in SYF. BlackRock Inc. bought a new position in Synchrony Financial in the second quarter worth approximately $2,349,452,000. Norges Bank bought a new stake in shares of Synchrony Financial during the 4th quarter valued at $383,231,000. Bank of America Corp DE increased its stake in shares of Synchrony Financial by 34.6% in the 2nd quarter. Bank of America Corp DE now owns 13,595,381 shares of the financial services provider’s stock worth $907,356,000 after purchasing an additional 3,494,741 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Synchrony Financial in the 2nd quarter worth $193,684,000. Finally, Deutsche Bank AG bought a new position in Synchrony Financial in the 2nd quarter worth $186,973,000. Hedge funds and other institutional investors own 96.48% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on SYF shares. Wolfe Research lifted their price objective on Synchrony Financial from $85.00 to $90.00 and gave the company an “outperform” rating in a research report on Tuesday. Royal Bank Of Canada reduced their target price on shares of Synchrony Financial from $85.00 to $80.00 and set a “sector perform” rating for the company in a report on Wednesday, July 22nd. UBS Group raised their target price on shares of Synchrony Financial from $84.00 to $87.00 and gave the stock a “neutral” rating in a research note on Monday, August 3rd. Robert W. Baird lifted their price target on shares of Synchrony Financial from $86.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, July 22nd. Finally, JPMorgan Chase & Co. dropped their price target on shares of Synchrony Financial from $81.00 to $78.00 and set a “neutral” rating for the company in a research report on Monday, July 13th. Twelve investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, Synchrony Financial currently has an average rating of “Moderate Buy” and an average target price of $87.78.

Synchrony Financial Stock Down 1.2%

NYSE SYF opened at $79.84 on Thursday. Synchrony Financial has a 12 month low of $63.08 and a 12 month high of $88.77. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 1.08. The stock has a market cap of $25.98 billion, a PE ratio of 8.18, a P/E/G ratio of 0.74 and a beta of 1.32. The stock’s 50 day moving average is $76.49 and its 200 day moving average is $73.04.

Synchrony Financial (NYSE:SYF) last announced its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $2.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.14 by $0.45. Synchrony Financial had a net margin of 15.44% and a return on equity of 23.09%. The business had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.72 billion. During the same period last year, the firm posted $2.50 EPS. Synchrony Financial has set its FY 2026 guidance at 9.250-9.500 EPS. Research analysts predict that Synchrony Financial will post 9.39 EPS for the current fiscal year.

Synchrony Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 17th. Shareholders of record on Wednesday, August 5th were paid a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 1.7%. The ex-dividend date was Wednesday, August 5th. This is an increase from Synchrony Financial’s previous quarterly dividend of $0.30. Synchrony Financial’s dividend payout ratio is presently 13.93%.

Synchrony Financial Profile

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.