Comerica Bank Has $6.14 Million Stake in Synchrony Financial (NYSE:SYF)

Comerica Bank lowered its stake in shares of Synchrony Financial (NYSE:SYF) by 4.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 188,188 shares of the financial services provider’s stock after selling 8,077 shares during the period. Comerica Bank’s holdings in Synchrony Financial were worth $6,135,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Berkshire Hathaway Inc. bought a new stake in shares of Synchrony Financial during the 2nd quarter worth $520,747,000. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Synchrony Financial by 13.9% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 466,387 shares of the financial services provider’s stock worth $14,481,000 after acquiring an additional 56,959 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Synchrony Financial by 1,820.5% during the 2nd quarter. Janus Henderson Group PLC now owns 10,934,573 shares of the financial services provider’s stock worth $326,070,000 after acquiring an additional 10,365,219 shares during the last quarter. K.J. Harrison & Partners Inc bought a new stake in Synchrony Financial in the third quarter worth $2,369,000. Finally, Keybank National Association OH lifted its stake in Synchrony Financial by 23.1% in the third quarter. Keybank National Association OH now owns 404,322 shares of the financial services provider’s stock worth $12,555,000 after purchasing an additional 75,828 shares during the last quarter. Institutional investors and hedge funds own 85.77% of the company’s stock.

In other Synchrony Financial news, insider David P. Melito sold 1,881 shares of the stock in a transaction on Monday, December 4th. The shares were sold at an average price of $38.00, for a total transaction of $71,478.00. Following the completion of the transaction, the insider now owns 43,140 shares in the company, valued at $1,639,320. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Olympia J. Snowe bought 3,000 shares of the stock in a transaction dated Friday, November 17th. The stock was purchased at an average price of $33.40 per share, with a total value of $100,200.00. Following the acquisition, the director now directly owns 10,608 shares in the company, valued at approximately $354,307.20. The disclosure for this purchase can be found here. Insiders have sold 6,961 shares of company stock valued at $244,508 over the last ninety days. 0.03% of the stock is currently owned by corporate insiders.

Several analysts have weighed in on SYF shares. Jefferies Group boosted their price target on shares of Synchrony Financial to $44.00 and gave the stock a “top pick” rating in a research note on Friday, December 1st. Keefe, Bruyette & Woods restated a “buy” rating and issued a $39.00 price objective on shares of Synchrony Financial in a research report on Thursday, October 12th. Wells Fargo & Company initiated coverage on shares of Synchrony Financial in a research report on Tuesday, October 10th. They issued a “market perform” rating and a $33.00 price objective on the stock. BidaskClub upgraded shares of Synchrony Financial from a “sell” rating to a “hold” rating in a research report on Saturday, August 26th. Finally, Oppenheimer reiterated a “hold” rating on shares of Synchrony Financial in a research report on Friday, October 20th. Twelve investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. Synchrony Financial currently has a consensus rating of “Buy” and an average price target of $37.14.

Shares of Synchrony Financial (NYSE SYF) traded up $0.08 during mid-day trading on Wednesday, reaching $37.39. 5,705,954 shares of the company’s stock were exchanged, compared to its average volume of 7,055,271. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 1.38. The stock has a market capitalization of $29,308.06, a PE ratio of 14.29, a P/E/G ratio of 1.89 and a beta of 1.06. Synchrony Financial has a twelve month low of $26.01 and a twelve month high of $38.06.

Synchrony Financial (NYSE:SYF) last announced its quarterly earnings data on Friday, October 20th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.06. The firm had revenue of $3.88 billion during the quarter, compared to analysts’ expectations of $3.78 billion. Synchrony Financial had a net margin of 13.17% and a return on equity of 14.84%. During the same period in the prior year, the company posted $0.73 earnings per share. sell-side analysts predict that Synchrony Financial will post 2.59 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, November 16th. Investors of record on Monday, November 6th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, November 3rd. This represents a $0.60 annualized dividend and a yield of 1.60%. Synchrony Financial’s payout ratio is 22.90%.

ILLEGAL ACTIVITY NOTICE: “Comerica Bank Has $6.14 Million Stake in Synchrony Financial (NYSE:SYF)” was first published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this news story on another website, it was stolen and reposted in violation of US and international copyright & trademark laws. The correct version of this news story can be accessed at https://ledgergazette.com/2017/12/07/synchrony-financial-syf-shares-sold-by-comerica-bank.html.

Synchrony Financial Company Profile

Synchrony Financial is a consumer financial services company. The Company provides a range of credit products through programs it has established with a group of national and regional retailers, local merchants, manufacturers, buying groups, industry associations and healthcare service providers. The Company’s revenue activities are managed through three sales platforms: Retail Card, Payment Solutions and CareCredit.

Institutional Ownership by Quarter 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.

Leave a Reply