AT Bancorp reduced its stake in shares of Synchrony Financial (NYSE:SYF) by 2.9% in the first quarter, Holdings Channel reports. The institutional investor owned 82,719 shares of the financial services provider’s stock after selling 2,482 shares during the period. AT Bancorp’s holdings in Synchrony Financial were worth $2,774,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently modified their holdings of SYF. Amundi Pioneer Asset Management Inc. grew its stake in Synchrony Financial by 108.3% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 4,032,094 shares of the financial services provider’s stock worth $155,677,000 after buying an additional 2,096,626 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in Synchrony Financial by 77.0% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,905,286 shares of the financial services provider’s stock worth $130,943,000 after buying an additional 1,699,021 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Synchrony Financial by 3,844.2% in the first quarter. American Century Companies Inc. now owns 1,045,601 shares of the financial services provider’s stock worth $35,059,000 after purchasing an additional 1,019,091 shares in the last quarter. Wedge Capital Management L L P NC bought a new position in shares of Synchrony Financial in the fourth quarter worth $35,492,000. Finally, Deutsche Bank AG grew its stake in shares of Synchrony Financial by 32.7% in the fourth quarter. Deutsche Bank AG now owns 3,189,347 shares of the financial services provider’s stock worth $123,136,000 after purchasing an additional 785,783 shares in the last quarter. Hedge funds and other institutional investors own 89.93% of the company’s stock.
Shares of Synchrony Financial opened at $34.93 on Friday, MarketBeat Ratings reports. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 1.46. The firm has a market capitalization of $25.82 billion, a PE ratio of 13.33, a PEG ratio of 1.13 and a beta of 1.13. Synchrony Financial has a fifty-two week low of $34.11 and a fifty-two week high of $34.72.
Synchrony Financial (NYSE:SYF) last announced its quarterly earnings data on Friday, April 20th. The financial services provider reported $0.83 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.09. The business had revenue of $3.84 billion during the quarter, compared to analyst estimates of $3.89 billion. Synchrony Financial had a return on equity of 15.60% and a net margin of 12.36%. During the same quarter in the prior year, the firm posted $0.61 earnings per share. equities analysts anticipate that Synchrony Financial will post 3.37 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 17th. Stockholders of record on Monday, May 7th were issued a $0.15 dividend. The ex-dividend date was Friday, May 4th. This represents a $0.60 annualized dividend and a dividend yield of 1.72%. Synchrony Financial’s dividend payout ratio (DPR) is 22.90%.
SYF has been the subject of several recent analyst reports. UBS initiated coverage on Synchrony Financial in a research note on Tuesday, March 27th. They issued a “sell” rating and a $32.00 price target for the company. Barclays set a $53.00 price target on Synchrony Financial and gave the stock a “buy” rating in a research note on Monday, January 22nd. Oppenheimer reissued a “hold” rating on shares of Synchrony Financial in a research note on Monday, January 22nd. Zacks Investment Research cut Synchrony Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, March 6th. Finally, Royal Bank of Canada initiated coverage on Synchrony Financial in a research note on Tuesday, April 17th. They issued an “outperform” rating and a $45.00 price target for the company. One analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $40.69.
In other news, insider Paul Whynott sold 1,750 shares of the company’s stock in a transaction on Monday, April 30th. The stock was sold at an average price of $33.27, for a total value of $58,222.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Neeraj Mehta sold 2,299 shares of the company’s stock in a transaction on Wednesday, April 4th. The shares were sold at an average price of $32.69, for a total value of $75,154.31. Following the completion of the sale, the insider now owns 65,867 shares of the company’s stock, valued at approximately $2,153,192.23. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,761 shares of company stock valued at $526,829. Insiders own 0.07% of the company’s stock.
Synchrony Financial Profile
Synchrony Financial operates as a consumer financial services company in the United States. The company offers private label credit cards, dual cards, general purpose co-branded credit cards, and small and medium-sized business credit products; and promotional financing for consumer purchases, such as private label credit cards and installment loans.
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