Bbva Compass Bancshares Inc. increased its position in shares of Synchrony Financial (NYSE:SYF) by 7.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,906 shares of the financial services provider’s stock after buying an additional 2,167 shares during the period. Bbva Compass Bancshares Inc.’s holdings in Synchrony Financial were worth $1,095,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. WFG Advisors LP increased its stake in Synchrony Financial by 177,871.4% in the fourth quarter. WFG Advisors LP now owns 12,458 shares of the financial services provider’s stock worth $117,000 after buying an additional 12,451 shares in the last quarter. Commonwealth Bank of Australia increased its stake in Synchrony Financial by 50.2% in the third quarter. Commonwealth Bank of Australia now owns 4,562 shares of the financial services provider’s stock worth $128,000 after buying an additional 1,525 shares in the last quarter. State of Alaska Department of Revenue purchased a new stake in Synchrony Financial during the first quarter worth about $152,000. Coconut Grove Bank increased its stake in Synchrony Financial by 93.9% in the first quarter. Coconut Grove Bank now owns 4,480 shares of the financial services provider’s stock worth $154,000 after buying an additional 2,170 shares in the last quarter. Finally, SRB Corp increased its stake in Synchrony Financial by 23.1% in the third quarter. SRB Corp now owns 5,786 shares of the financial services provider’s stock worth $162,000 after buying an additional 1,084 shares in the last quarter. Institutional investors own 89.10% of the company’s stock.
Synchrony Financial (SYF) traded up 2.05% during trading on Wednesday, hitting $28.87. The stock had a trading volume of 16,055,652 shares. Synchrony Financial has a 12 month low of $23.25 and a 12 month high of $38.06. The stock has a market cap of $23.41 billion, a price-to-earnings ratio of 11.01 and a beta of 1.06. The firm has a 50 day moving average of $28.72 and a 200-day moving average of $33.79.
Synchrony Financial (NYSE:SYF) last released its earnings results on Friday, April 28th. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.74 by $0.13. The business had revenue of $3.59 billion for the quarter, compared to analyst estimates of $3.54 billion. Synchrony Financial had a return on equity of 16.34% and a net margin of 15.15%. During the same quarter last year, the company earned $0.70 earnings per share. Equities analysts predict that Synchrony Financial will post $2.60 earnings per share for the current 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 dividend on an annualized basis and a yield of 1.80%. Synchrony Financial’s dividend payout ratio (DPR) is presently 19.19%.
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Several equities analysts have recently weighed in on SYF shares. Barclays PLC lifted their price target on Synchrony Financial from $36.00 to $47.00 and gave the company an “overweight” rating in a research report on Monday, May 1st. BMO Capital Markets reissued a “buy” rating and set a $38.00 price objective on shares of Synchrony Financial in a research note on Tuesday, April 11th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $44.00 price objective on shares of Synchrony Financial in a research note on Tuesday, April 11th. Oppenheimer Holdings Inc. initiated coverage on Synchrony Financial in a research note on Tuesday, April 11th. They set a “market perform” rating for the company. Finally, BTIG Research dropped their price target on Synchrony Financial from $42.00 to $36.00 and set a “buy” rating for the company in a research note on Monday, May 1st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $37.71.
In other Synchrony Financial news, insider David P. Melito sold 748 shares of the stock in a transaction that occurred on Wednesday, April 5th. The shares were sold at an average price of $34.24, for a total value of $25,611.52. Following the sale, the insider now directly owns 43,390 shares of the company’s stock, valued at approximately $1,485,673.60. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Will W. Graylin acquired 18,000 shares of the company’s stock in a transaction on Monday, May 1st. The stock was purchased at an average cost of $27.80 per share, for a total transaction of $500,400.00. Following the completion of the transaction, the director now owns 55,389 shares in the company, valued at approximately $1,539,814.20. The disclosure for this purchase can be found here. 0.02% of the stock is owned by corporate insiders.
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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