The aforementioned information brings attention to the key developments and financial standing of Synchrony Financial (SYF). Curtis Howse, an executive, has reportedly sold 31,562 of his SYF shares. Although the company's stock has declined 1.2% since its last earnings release, there are indications of future growth as its shares recently touched a new 12-month high at $45.87.
Additional optimism comes from Keefe, Bruyette & Woods, which upgraded SYF to 'Outperform'. Major financial firms including First Trust Direct Indexing L.P., Victory Capital Management, Todd Asset Management, and Cwm have increased their SYF holdings, highlighting their faith in the firm's potential. However, Savant Capital LLC and Federated Hermes Inc. shaved off their shares.
The company is also moving forward with strategic collaborations and initiatives. Notably, it is partnering with various firms such as BRP and Nextech to enhance its offerings, and it will be issuing PayPal's new credit card. SYF has acquired Ally Financial's Point-of-Sale business, boosting its service platform.
Synchrony Financial's past performance and future expectations reflect in its stock's rating upgrade to 'Buy' by StockNews.com. On the financial front, SYF's Q1 2024 earnings didn't meet estimates due to a low net interest margin. Potential threats aren't absent, as with rising costs that might affect the company's Q2 earnings and the CFPB's late fee rule set to reduce its 2024 EPS.
However, Synchrony remains a trusted choice given its consistent dividend payouts and approved share repurchase program. As Synchrony prepares for Q1 earnings, it is set to offer a quarterly dividend of $0.25 per share. Its financial health is updated regularly, and the company expects to post Q2 2024 earnings of $1.51 per share.
Synchrony Financial SYF News Analytics from Tue, 24 Oct 2023 07:00:00 GMT to Tue, 07 May 2024 10:20:39 GMT - Rating 1 - Innovation 2 - Information 8 - Rumor -7
