AT Bancorp increased its position in Synchrony Financial (NYSE:SYF) by 9.8% during the first quarter, according to its most recent disclosure with the SEC. The fund 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 approximately 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 hedge funds also recently bought and sold shares of the company. Osborne Partners Capital Management LLC raised its position in Synchrony Financial by 8.5% in the third quarter. Osborne Partners Capital Management LLC now owns 189,607 shares of the financial services provider’s stock valued at $5,309,000 after buying an additional 14,852 shares in the last quarter. Klingenstein Fields & Co. LLC increased its stake in Synchrony Financial by 0.6% in the third quarter. Klingenstein Fields & Co. LLC now owns 719,609 shares of the financial services provider’s stock worth $20,149,000 after buying an additional 4,409 shares during the last quarter. Silver Capital Management LLC increased its stake in Synchrony Financial by 9.0% in the third quarter. Silver Capital Management LLC now owns 20,870 shares of the financial services provider’s stock worth $584,000 after buying an additional 1,720 shares during the last quarter. Sanders Capital LLC increased its stake in Synchrony Financial by 1.2% in the third quarter. Sanders Capital LLC now owns 2,545,220 shares of the financial services provider’s stock worth $72,959,000 after buying an additional 30,500 shares during the last quarter. Finally, Sit Investment Associates Inc. increased its stake in Synchrony Financial by 1,213.5% in the third quarter. Sit Investment Associates Inc. now owns 793,005 shares of the financial services provider’s stock valued at $22,204,000 after buying an additional 732,630 shares in the last quarter. Institutional investors own 89.10% of the company’s stock.
Shares of Synchrony Financial (NYSE:SYF) opened at 27.10 on Wednesday. The company has a market capitalization of $21.98 billion, a PE ratio of 10.34 and a beta of 1.06. Synchrony Financial has a 12 month low of $23.25 and a 12 month high of $38.06. The stock’s 50 day moving average price is $29.49 and its 200 day moving average price is $34.04.
Synchrony Financial (NYSE:SYF) last announced its quarterly earnings data on Friday, April 28th. The financial services provider reported $0.61 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by $0.13. The firm had revenue of $3.59 billion during the quarter, compared to analyst estimates of $3.54 billion. Synchrony Financial had a net margin of 15.15% and a return on equity of 16.34%. During the same period in the prior year, the company posted $0.70 earnings per share. On average, analysts forecast that Synchrony Financial will post $2.60 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 18th. Stockholders of record on Monday, May 8th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date was Thursday, May 4th. Synchrony Financial’s dividend payout ratio is presently 19.19%.
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Several equities research analysts recently commented on the stock. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $44.00 target price on shares of Synchrony Financial in a research report on Tuesday, April 11th. Oppenheimer Holdings Inc. assumed coverage on shares of Synchrony Financial in a research report on Tuesday, April 11th. They issued a “market perform” rating on the stock. Jefferies Group LLC dropped their price target on shares of Synchrony Financial from $45.00 to $40.00 and set a “buy” rating on the stock in a research report on Monday, May 1st. JMP Securities reiterated an “outperform” rating and issued a $35.00 price objective (down previously from $41.00) on shares of Synchrony Financial in a research note on Monday, May 1st. Finally, BTIG Research lowered their price objective on shares of 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 research analyst has rated the stock with a sell rating, seven have issued a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. Synchrony Financial currently has an average 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 stock was sold at an average price of $34.24, for a total transaction of $25,611.52. Following the transaction, the insider now owns 43,390 shares in the company, valued at $1,485,673.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Will W. Graylin purchased 18,000 shares of the stock in a transaction on Monday, May 1st. The shares were acquired at an average price of $27.80 per share, for a total transaction of $500,400.00. Following the transaction, the director now directly owns 55,389 shares of the company’s stock, valued at approximately $1,539,814.20. The disclosure for this purchase can be found here. 0.02% of the stock is currently 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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