Syntal Capital Partners LLC bought a new stake in Synchrony Financial (NYSE:SYF) during the fourth quarter, Holdings Channel reports. The institutional investor bought 5,897 shares of the company’s stock, valued at approximately $213,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. Sumitomo Mitsui Asset Management Company LTD increased its position in shares of Synchrony Financial by 1.6% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 63,869 shares of the company’s stock valued at $1,614,000 after buying an additional 976 shares during the last quarter. Herndon Capital Management LLC increased its stake in Synchrony Financial by 81.9% in the second quarter. Herndon Capital Management LLC now owns 2,483,013 shares of the company’s stock worth $62,769,000 after buying an additional 1,118,108 shares in the last quarter. Tocqueville Asset Management L.P. increased its stake in Synchrony Financial by 23.3% in the second quarter. Tocqueville Asset Management L.P. now owns 271,376 shares of the company’s stock worth $6,860,000 after buying an additional 51,202 shares in the last quarter. Bbva Compass Bancshares Inc. purchased a new stake in Synchrony Financial during the second quarter worth $561,000. Finally, Hanson & Doremus Investment Management purchased a new stake in Synchrony Financial during the second quarter worth $319,000. 87.84% of the stock is owned by hedge funds and other institutional investors.
Shares of Synchrony Financial (NYSE:SYF) traded down 0.74% during midday trading on Friday, hitting $36.22. The stock had a trading volume of 5,527,093 shares. The stock’s 50-day moving average is $36.36 and its 200-day moving average is $31.28. 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 $29.61 billion, a PE ratio of 13.37 and a beta of 1.06.
Synchrony Financial (NYSE:SYF) last issued its quarterly earnings results on Friday, January 20th. The company reported $0.70 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.03. Synchrony Financial had a return on equity of 16.34% and a net margin of 15.15%. During the same period in the previous year, the business earned $0.65 EPS. Equities analysts anticipate that Synchrony Financial will post $3.05 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, February 16th. Investors of record on Monday, February 6th will be paid a $0.13 dividend. The ex-dividend date is Thursday, February 2nd. This represents a $0.52 annualized dividend and a yield of 1.44%. Synchrony Financial’s payout ratio is 19.19%.
A number of analysts have weighed in on SYF shares. Bank of America Corporation raised shares of Synchrony Financial from a “neutral” rating to a “buy” rating and set a $40.50 target price for the company in a research report on Thursday, December 15th. Vetr downgraded shares of Synchrony Financial from a “buy” rating to a “hold” rating and set a $39.37 target price for the company. in a research report on Wednesday, January 4th. Zacks Investment Research raised shares of Synchrony Financial from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a research report on Wednesday, December 14th. JMP Securities increased their price target on Synchrony Financial from $33.00 to $37.00 and gave the stock a “market outperform” rating in a report on Tuesday, November 22nd. Finally, Compass Point began coverage on Synchrony Financial in a report on Friday, November 4th. They set a “buy” rating and a $34.00 price target on the stock. Three investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $42.70.
In related news, insider David P. Melito sold 2,159 shares of the company’s stock in a transaction on Monday, November 21st. The stock was sold at an average price of $33.54, for a total value of $72,412.86. Following the sale, the insider now directly owns 40,863 shares of the company’s stock, valued at $1,370,545.02. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider David P. Melito sold 1,392 shares of the company’s stock in a transaction on Wednesday, January 4th. The stock was sold at an average price of $38.00, for a total value of $52,896.00. Following the completion of the sale, the insider now directly owns 42,255 shares in the company, valued at $1,605,690. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,551 shares of company stock worth $329,309. 0.02% of the stock is owned by insiders.
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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