15 Best Bank Stocks to Buy According to Billionaires

13. Synchrony Financial (NYSE:SYF)

Number of Billionaire Investors: 13

Synchrony Financial (NYSE:SYF) is a consumer finance company based in Stamford, Connecticut. It offers a range of credit products, including credit cards, installment loans, and commercial financing. The company also provides private label and co-branded credit cards, as well as banking products like savings accounts, money market accounts, and CDs. It is one of the best bank stocks to invest in.

On January 30, Synchrony Financial (NYSE:SYF) announced that it is extending its partnership with HearingLife to continue offering CareCredit at its US hearing centers. As the exclusive financing partner, CareCredit provides flexible payment options for hearing exams, tinnitus care, implants, and hearing aids. With 600+ locations nationwide, HearingLife offers personalized care, while CareCredit is accepted at 11,000+ hearing centers, making treatment more accessible with flexible financing.

Synchrony Financial (NYSE:SYF) added 5 million new accounts during the fourth quarter of 2024, generating $48 billion in purchase volume, and increasing loan receivables by 2%. The company also saw improvements in delinquency trends and maintained cost discipline, leading to $774 million in net earnings. For the full year 2024, the company acquired nearly 20 million new accounts, financed over $182 billion in purchases, and achieved $3.5 billion in net earnings. SYF also expanded its partnerships, onboarding more than 45 new brands, including Virgin, Gibson, BRP, and tech-driven firms like Adit Practice Management Software and ServiceTitan.

In January 2025, Morgan Stanley upgraded Synchrony Financial (NYSE:SYF) stock to Overweight, expecting earnings to get a boost from the company’s preparations for the upcoming late fee rule. Goldman Sachs stuck with its Buy rating, pointing to strong performance and lower-than-expected delinquency rates. Meanwhile, JPMorgan also upgraded Synchrony from Neutral to Overweight, highlighting its attractive valuation and growth potential.