AT Bancorp Trims Position in Synchrony Financial (SYF)

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AT Bancorp cut its position in shares of Synchrony Financial (NYSE:SYF) by 38.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 59,669 shares of the financial services provider’s stock after selling 37,013 shares during the quarter. AT Bancorp’s holdings in Synchrony Financial were worth $1,400,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently modified their holdings of SYF. FMR LLC raised its holdings in shares of Synchrony Financial by 1.1% in the third quarter. FMR LLC now owns 50,346,639 shares of the financial services provider’s stock worth $1,564,774,000 after acquiring an additional 563,203 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Synchrony Financial by 3.3% in the fourth quarter. BlackRock Inc. now owns 46,496,604 shares of the financial services provider’s stock worth $1,090,810,000 after acquiring an additional 1,503,876 shares during the last quarter. Janus Henderson Group PLC raised its holdings in shares of Synchrony Financial by 7.7% in the third quarter. Janus Henderson Group PLC now owns 18,623,457 shares of the financial services provider’s stock worth $578,816,000 after acquiring an additional 1,334,141 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Synchrony Financial by 7.1% in the fourth quarter. Geode Capital Management LLC now owns 10,348,447 shares of the financial services provider’s stock worth $242,414,000 after acquiring an additional 686,204 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Synchrony Financial by 94.6% in the third quarter. The Manufacturers Life Insurance Company now owns 7,548,840 shares of the financial services provider’s stock worth $234,618,000 after acquiring an additional 3,669,660 shares during the last quarter. 85.75% of the stock is owned by hedge funds and other institutional investors.

In other Synchrony Financial news, insider Henry F. Greig sold 50,000 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $33.00, for a total transaction of $1,650,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David P. Melito sold 3,204 shares of the business’s stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $32.00, for a total value of $102,528.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 60,342 shares of company stock valued at $1,966,668. 0.07% of the stock is owned by company insiders.

SYF stock opened at $33.31 on Monday. Synchrony Financial has a 12-month low of $21.77 and a 12-month high of $36.32. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 1.63. The stock has a market cap of $23.65 billion, a price-to-earnings ratio of 8.91, a PEG ratio of 0.82 and a beta of 1.29.

Synchrony Financial (NYSE:SYF) last posted its quarterly earnings results on Wednesday, January 23rd. The financial services provider reported $1.09 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.93 by $0.16. Synchrony Financial had a return on equity of 19.41% and a net margin of 15.45%. The firm had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.25 billion. During the same quarter in the previous year, the business earned $0.70 earnings per share. On average, research analysts anticipate that Synchrony Financial will post 4.37 earnings per share for the current year.

Several equities analysts recently commented on SYF shares. Zacks Investment Research upgraded Synchrony Financial from a “hold” rating to a “buy” rating and set a $33.00 target price for the company in a research note on Monday, January 28th. Oppenheimer upgraded Synchrony Financial from a “market perform” rating to an “outperform” rating and set a $43.00 target price for the company in a research note on Thursday, January 24th. Wells Fargo & Co reiterated a “buy” rating on shares of Synchrony Financial in a research note on Wednesday, March 13th. Bank of America upgraded Synchrony Financial from a “neutral” rating to a “buy” rating and set a $37.00 target price for the company in a research note on Wednesday, January 30th. Finally, Stephens reiterated a “hold” rating and issued a $34.00 target price on shares of Synchrony Financial in a research note on Sunday, January 27th. Eight research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Synchrony Financial has an average rating of “Buy” and a consensus target price of $37.43.

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About Synchrony Financial

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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Institutional Ownership by Quarter for Synchrony Financial (NYSE:SYF)

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