US Bancorp DE lessened its stake in Synchrony Financial (NYSE:SYF) by 25.9% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 61,010 shares of the financial services provider’s stock after selling 21,367 shares during the quarter. US Bancorp DE’s holdings in Synchrony Financial were worth $2,037,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of SYF. First Mercantile Trust Co. bought a new position in shares of Synchrony Financial in the second quarter valued at approximately $120,000. Summit Trail Advisors LLC lifted its holdings in shares of Synchrony Financial by 3,393.6% in the first quarter. Summit Trail Advisors LLC now owns 126,118 shares of the financial services provider’s stock valued at $126,000 after purchasing an additional 122,508 shares in the last quarter. Assetmark Inc. lifted its holdings in shares of Synchrony Financial by 98.1% in the second quarter. Assetmark Inc. now owns 4,327 shares of the financial services provider’s stock valued at $144,000 after purchasing an additional 2,143 shares in the last quarter. AdvisorNet Financial Inc lifted its holdings in shares of Synchrony Financial by 111.6% in the second quarter. AdvisorNet Financial Inc now owns 5,202 shares of the financial services provider’s stock valued at $174,000 after purchasing an additional 2,744 shares in the last quarter. Finally, Financial Advocates Investment Management bought a new position in shares of Synchrony Financial in the first quarter valued at approximately $212,000. Institutional investors own 85.11% of the company’s stock.
A number of analysts recently commented on the company. Oppenheimer reiterated a “hold” rating on shares of Synchrony Financial in a report on Monday, August 6th. UBS Group upgraded Synchrony Financial from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $32.00 to $33.00 in a report on Friday, August 3rd. ValuEngine lowered Synchrony Financial from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 1st. Compass Point reiterated a “buy” rating and set a $39.00 price target on shares of Synchrony Financial in a report on Monday, July 30th. Finally, BMO Capital Markets dropped their price target on Synchrony Financial from $51.00 to $37.00 and set an “outperform” rating on the stock in a report on Monday, July 30th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and eleven have assigned a buy rating to the company. Synchrony Financial currently has a consensus rating of “Hold” and a consensus target price of $38.44.
Shares of SYF opened at $31.88 on Wednesday. The firm has a market capitalization of $23.46 billion, a price-to-earnings ratio of 10.05, a PEG ratio of 0.90 and a beta of 1.05. Synchrony Financial has a 1 year low of $28.33 and a 1 year high of $40.59.
Synchrony Financial (NYSE:SYF) last issued its earnings results on Friday, July 27th. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.10. The firm had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.82 billion. Synchrony Financial had a return on equity of 16.96% and a net margin of 13.39%. During the same period in the previous year, the company posted $0.61 earnings per share. equities research analysts predict that Synchrony Financial will post 3.41 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, August 16th. Shareholders of record on Monday, August 6th were paid a $0.21 dividend. The ex-dividend date was Friday, August 3rd. This is a positive change from Synchrony Financial’s previous quarterly dividend of $0.15. This represents a $0.84 annualized dividend and a dividend yield of 2.63%. Synchrony Financial’s payout ratio is presently 32.06%.
In other news, Director Roy A. Guthrie bought 10,000 shares of the stock in a transaction on Monday, July 30th. The shares were purchased at an average cost of $29.53 per share, for a total transaction of $295,300.00. Following the completion of the purchase, the director now directly owns 47,997 shares in the company, valued at approximately $1,417,351.41. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.07% of the company’s stock.
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.
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