AT Bancorp cut its stake in shares of Synchrony Financial (NYSE:SYF) by 2.9% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 82,719 shares of the financial services provider’s stock after selling 2,482 shares during the period. AT Bancorp’s holdings in Synchrony Financial were worth $2,774,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Alps Advisors Inc. acquired a new position in Synchrony Financial during the 4th quarter worth approximately $283,000. Deutsche Bank AG lifted its position in Synchrony Financial by 32.7% during the 4th quarter. Deutsche Bank AG now owns 3,189,347 shares of the financial services provider’s stock worth $123,136,000 after acquiring an additional 785,783 shares in the last quarter. Xact Kapitalforvaltning AB lifted its position in Synchrony Financial by 10.7% during the 4th quarter. Xact Kapitalforvaltning AB now owns 153,719 shares of the financial services provider’s stock worth $5,935,000 after acquiring an additional 14,862 shares in the last quarter. First Republic Investment Management Inc. lifted its position in Synchrony Financial by 372.7% during the 4th quarter. First Republic Investment Management Inc. now owns 173,375 shares of the financial services provider’s stock worth $6,694,000 after acquiring an additional 136,701 shares in the last quarter. Finally, Haverford Financial Services Inc. lifted its position in Synchrony Financial by 16.2% during the 4th quarter. Haverford Financial Services Inc. now owns 12,490 shares of the financial services provider’s stock worth $484,000 after acquiring an additional 1,740 shares in the last quarter. 89.93% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Synchrony Financial opened at $34.93 on Friday, according to MarketBeat. Synchrony Financial has a 52-week low of $34.11 and a 52-week high of $34.72. The company has a market capitalization of $25.82 billion, a price-to-earnings ratio of 13.33, a price-to-earnings-growth ratio of 1.13 and a beta of 1.13. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 1.46.
Synchrony Financial (NYSE:SYF) last posted its quarterly earnings results on Friday, April 20th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.09. The business had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.89 billion. Synchrony Financial had a return on equity of 15.60% and a net margin of 12.36%. During the same period in the prior year, the company posted $0.61 EPS. sell-side analysts expect that Synchrony Financial will post 3.37 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, May 17th. Investors of record on Monday, May 7th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.72%. The ex-dividend date of this dividend was Friday, May 4th. Synchrony Financial’s dividend payout ratio is currently 22.90%.
SYF has been the topic of several recent research reports. ValuEngine lowered Synchrony Financial from a “buy” rating to a “hold” rating in a research report on Monday, April 2nd. Zacks Investment Research lowered Synchrony Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, March 6th. Barclays set a $53.00 target price on Synchrony Financial and gave the company a “buy” rating in a research report on Monday, January 22nd. Royal Bank of Canada assumed coverage on Synchrony Financial in a research report on Tuesday, April 17th. They issued an “outperform” rating and a $45.00 target price on the stock. Finally, Buckingham Research assumed coverage on Synchrony Financial in a research report on Wednesday, March 14th. They issued a “buy” rating and a $42.00 target price on the stock. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $40.69.
In related news, insider Neeraj Mehta sold 2,299 shares of the company’s stock in a transaction that occurred on Wednesday, April 4th. The stock was sold at an average price of $32.69, for a total transaction of $75,154.31. Following the sale, the insider now directly owns 65,867 shares of the company’s stock, valued at approximately $2,153,192.23. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Thomas M. Quindlen sold 10,712 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $36.73, for a total value of $393,451.76. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,761 shares of company stock worth $526,829. Corporate insiders own 0.07% of the company’s stock.
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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