Comerica Bank lowered its stake in shares of Synchrony Financial (NYSE:SYF) by 2.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 171,872 shares of the financial services provider’s stock after selling 4,651 shares during the quarter. Comerica Bank’s holdings in Synchrony Financial were worth $5,641,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in SYF. Daiwa Securities Group Inc. lifted its holdings in shares of Synchrony Financial by 454.2% during the first quarter. Daiwa Securities Group Inc. now owns 136,987 shares of the financial services provider’s stock valued at $4,593,000 after purchasing an additional 112,267 shares during the last quarter. American Assets Investment Management LLC raised its holdings in Synchrony Financial by 21.9% in the 1st quarter. American Assets Investment Management LLC now owns 44,600 shares of the financial services provider’s stock worth $1,495,000 after acquiring an additional 8,000 shares during the last quarter. Twin Capital Management Inc. raised its holdings in Synchrony Financial by 6.5% in the 1st quarter. Twin Capital Management Inc. now owns 68,086 shares of the financial services provider’s stock worth $2,283,000 after acquiring an additional 4,152 shares during the last quarter. Wedge Capital Management L L P NC raised its holdings in Synchrony Financial by 1.9% in the 1st quarter. Wedge Capital Management L L P NC now owns 936,493 shares of the financial services provider’s stock worth $31,401,000 after acquiring an additional 17,252 shares during the last quarter. Finally, Commerzbank Aktiengesellschaft FI raised its holdings in Synchrony Financial by 6.4% in the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 157,505 shares of the financial services provider’s stock worth $5,281,000 after acquiring an additional 9,535 shares during the last quarter. 86.88% of the stock is owned by institutional investors and hedge funds.
In related news, Director Roy A. Guthrie bought 10,000 shares of the business’s stock in a transaction on Monday, July 30th. The stock was acquired at an average price of $29.53 per share, with a total value of $295,300.00. Following the transaction, the director now owns 47,997 shares in the company, valued at approximately $1,417,351.41. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider David P. Melito sold 2,094 shares of Synchrony Financial stock in a transaction that occurred on Monday, May 21st. The stock was sold at an average price of $35.60, for a total transaction of $74,546.40. The disclosure for this sale can be found here. Insiders own 0.07% of the company’s stock.
NYSE:SYF opened at $29.41 on Friday. Synchrony Financial has a 12 month low of $28.33 and a 12 month high of $40.59. The company has a market capitalization of $22.26 billion, a price-to-earnings ratio of 11.23, a P/E/G ratio of 0.86 and a beta of 1.01.
Synchrony Financial (NYSE:SYF) last posted its earnings results on Friday, July 27th. The financial services provider reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.10. Synchrony Financial had a net margin of 13.39% and a return on equity of 16.96%. The business had revenue of $3.74 billion during the quarter, compared to the consensus estimate of $3.82 billion. During the same quarter in the previous year, the firm posted $0.61 EPS. equities analysts expect that Synchrony Financial will post 3.41 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 16th. Shareholders of record on Monday, August 6th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date is Friday, August 3rd. This is an increase from Synchrony Financial’s previous quarterly dividend of $0.15. Synchrony Financial’s payout ratio is 32.06%.
A number of equities analysts recently weighed in on SYF shares. Royal Bank of Canada started coverage on shares of Synchrony Financial in a report on Tuesday, April 17th. They issued an “outperform” rating and a $45.00 price objective for the company. Oppenheimer restated a “hold” rating on shares of Synchrony Financial in a report on Sunday, April 22nd. BMO Capital Markets decreased their price objective on shares of Synchrony Financial from $55.00 to $51.00 and set an “outperform” rating for the company in a report on Monday, April 23rd. ValuEngine lowered shares of Synchrony Financial from a “buy” rating to a “hold” rating in a report on Monday, April 23rd. Finally, Morgan Stanley decreased their price objective on shares of Synchrony Financial from $41.00 to $38.00 and set an “equal weight” rating for the company in a report on Monday, April 30th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $38.44.
Synchrony Financial Company 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.
Further Reading: Marijuana Stocks Investing Considerations
Want to see what other hedge funds are holding SYF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Synchrony Financial (NYSE:SYF).
Receive News & Ratings for Synchrony Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synchrony Financial and related companies with MarketBeat.com's FREE daily email newsletter.