HSBC Global Investment Research
Report published June 15, 2026
US Consumer Finance Sector Update: HSBC Global Investment Research (June 2026)
HSBC Global Investment Research · June 15, 2026
Consumer finance shares are rallying as the market balances macro concerns with resilient credit performance. Synchrony remains the preferred top pick.
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Finvaulta summarizes HSBC Global Investment Research's analysis. Attribute opinions, forecasts, time-sensitive values, and chronology to the issuer and report date; do not treat this page as an independent verification or a current market-data source.
Key Takeaways
- 1.Macro concerns and potential inflation easing are driving a risk-on rally in consumer finance shares.
- 2.Credit performance remains resilient across the sector, with May 2026 data showing stable to improving trends.
- 3.Synchrony (SYF) remains the top pick due to discounted valuation and strong growth expectations.
Table of Contents
- US Consumer Finance
- Net charge-off and 30-day past due loan ratios
- American Express – US consumer card member loans
- Synchrony – total loans
- Loan growth
- Valuation and risks
- Rating distribution for long-term investment opportunities
- Share price and rating changes for long-term investment opportunities
Report data
US consumer finance: ratings, target prices, and valuation multiples
| Metric | Estimate | Context |
|---|---|---|
| Synchrony PE Ratio | 8.0 x | Valuation |
| Capital One Card NCO ratio | 4.82% | Credit Quality |
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Authors / Editors
Saul Martinez · Head of US Financials ResearchCalvin Carlo · Analyst, US Financials