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%.
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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.
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