AT Bancorp raised its stake in shares of Synchrony Financial (NYSE:SYF) by 9.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 142,538 shares of the financial services provider’s stock after buying an additional 12,726 shares during the period. Synchrony Financial accounts for about 0.6% of AT Bancorp’s holdings, making the stock its 23rd largest position. AT Bancorp’s holdings in Synchrony Financial were worth $4,889,000 as of its most recent filing with the SEC.
Other institutional investors have also modified their holdings of the company. FMR LLC increased its stake in shares of Synchrony Financial by 44.7% in the fourth quarter. FMR LLC now owns 27,582,023 shares of the financial services provider’s stock valued at $1,000,400,000 after buying an additional 8,518,794 shares during the period. Norges Bank purchased a new stake in shares of Synchrony Financial during the fourth quarter valued at $289,634,000. Baupost Group LLC MA increased its stake in shares of Synchrony Financial by 17.6% in the fourth quarter. Baupost Group LLC MA now owns 20,665,000 shares of the financial services provider’s stock valued at $749,520,000 after buying an additional 3,100,000 shares during the period. Russell Investments Group Ltd. purchased a new stake in shares of Synchrony Financial during the fourth quarter valued at $97,183,000. Finally, State Street Corp increased its stake in shares of Synchrony Financial by 6.9% in the fourth quarter. State Street Corp now owns 35,391,924 shares of the financial services provider’s stock valued at $1,283,661,000 after buying an additional 2,287,606 shares during the period. 89.10% of the stock is currently owned by institutional investors.
Synchrony Financial (NYSE:SYF) traded up 0.10% during trading on Friday, reaching $28.70. 7,848,342 shares of the company were exchanged. The firm has a market capitalization of $23.28 billion, a PE ratio of 10.95 and a beta of 1.06. The stock has a 50 day moving average price of $28.45 and a 200 day moving average price of $33.71. Synchrony Financial has a 12 month low of $23.25 and a 12 month high of $38.06.
Synchrony Financial (NYSE:SYF) last posted its earnings results on Friday, April 28th. The financial services provider reported $0.61 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.74 by $0.13. Synchrony Financial had a net margin of 15.15% and a return on equity of 16.34%. The business had revenue of $3.59 billion for the quarter, compared to analysts’ expectations of $3.54 billion. During the same quarter last year, the business posted $0.70 earnings per share. On average, analysts expect that Synchrony Financial will post $2.60 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, May 18th. Shareholders of record on Monday, May 8th were issued a dividend of $0.13 per share. The ex-dividend date of this dividend was Thursday, May 4th. This represents a $0.52 annualized dividend and a yield of 1.81%. Synchrony Financial’s dividend payout ratio (DPR) is currently 19.19%.
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Several equities research analysts have recently commented on SYF shares. Oppenheimer Holdings Inc. reiterated a “hold” rating on shares of Synchrony Financial in a research note on Sunday, April 30th. ValuEngine downgraded shares of Synchrony Financial from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Jefferies Group LLC reiterated a “buy” rating and set a $40.00 price objective on shares of Synchrony Financial in a research note on Friday. BTIG Research reiterated a “buy” rating and set a $36.00 price objective on shares of Synchrony Financial in a research note on Wednesday, May 24th. Finally, Vetr downgraded shares of Synchrony Financial from a “strong-buy” rating to a “buy” rating and set a $41.65 price objective for the company. in a research note on Tuesday, February 14th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. Synchrony Financial presently has an average rating of “Buy” and an average price target of $37.71.
In other Synchrony Financial news, insider David P. Melito sold 748 shares of the firm’s stock in a transaction dated Wednesday, April 5th. The shares were sold at an average price of $34.24, for a total transaction of $25,611.52. Following the completion of the transaction, the insider now directly owns 43,390 shares in the company, valued at approximately $1,485,673.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Will W. Graylin bought 18,000 shares of the company’s stock in a transaction on Monday, May 1st. The shares were acquired at an average price of $27.80 per share, with a total value of $500,400.00. Following the completion of the acquisition, the director now directly owns 55,389 shares in the company, valued at approximately $1,539,814.20. The disclosure for this purchase can be found here. Company insiders own 0.02% of the company’s stock.
About Synchrony Financial
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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