Comerica Bank increased its stake in the shares of Synchrony Financial (NYSE: SYF – Get a rating) by 4.3% in the first quarter, according to its latest filing with the SEC. The company held 120,427 shares of the financial services provider after acquiring an additional 4,942 shares during the period. Comerica Bank’s holdings in Synchrony Financial were worth $4,875,000 when it last filed with the SEC.
Other hedge funds and other institutional investors have also recently changed their positions in the company. CVA Family Office LLC bought a new position in Synchrony Financial during Q4 worth approximately $30,000. Blue Bell Private Wealth Management LLC bought a new position in Synchrony Financial during Q4 worth approximately $30,000. Spire Wealth Management increased its holdings in Synchrony Financial by 1,219.7% in the fourth quarter. Spire Wealth Management now owns 871 shares of the financial services provider valued at $40,000 after buying an additional 805 shares in the last quarter. Massmutual Trust Co. FSB ADV increased its stake in Synchrony Financial by 115.7% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 964 shares of the financial services provider valued at $45,000 after buying 517 additional shares in the last quarter. Finally, Andrew Hill Investment Advisors Inc. bought a new position in Synchrony Financial during Q4 worth approximately $46,000. 98.26% of the shares are held by institutional investors.
Synchrony financial price performance
Synchrony Financial Action opened at $31.39 on Monday. The company has a current ratio of 1.24, a quick ratio of 1.18 and a debt ratio of 1.05. The company has a market capitalization of $15.74 billion, a P/E ratio of 4.26, a PEG ratio of 0.24 and a beta of 1.52. The company has a 50-day moving average of $32.03 and a 200-day moving average of $37.69. Synchrony Financial has a 1-year minimum of $27.22 and a 1-year maximum of $52.49.
Synchrony Financial (NYSE: SYF – Get a rating) last released its quarterly earnings data on Monday, April 18. The financial services provider reported earnings per share (EPS) of $1.73 for the quarter, beating consensus analyst estimates of $1.53 by $0.20. Synchrony Financial had a net margin of 26.26% and a return on equity of 29.99%. The company posted revenue of $3.79 billion in the quarter, versus $2.66 billion expected by analysts. In the same quarter of the previous year, the company had earned earnings per share of $1.73. On average, equity analysts expect Synchrony Financial to post 5.62 EPS for the current year.
Synchrony Financial announces dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, May 12. Shareholders of record on Monday, May 2 received a dividend of $0.22. This represents an annualized dividend of $0.88 and a dividend yield of 2.80%. The ex-dividend date was Friday, April 29. Synchrony Financial’s dividend payout ratio (DPR) is 11.94%.
Synchrony Financial announced that its board of directors approved a share buyback program on Monday, April 18 that allows the company to repurchase $2.80 billion in outstanding stock. This repurchase authorization allows the financial services provider to purchase up to 13.6% of its shares through purchases on the open market. Stock buyback programs are often a sign that a company’s management believes its stock is undervalued.
Analysts set new price targets
Several equity analysts have recently released reports on SYF shares. Barclays cut its price target on Synchrony Financial shares from $64.00 to $49.00 and set an “overweight” rating for the company in a Monday July 11 report. Wolfe Research has downgraded Synchrony Financial shares from a “peer performing” rating to an “underperforming” rating and set a price target of $22.00 for the company. in a research report on Thursday, May 12. Goldman Sachs Group raised its price target on Synchrony Financial shares from $40.00 to $45.00 and gave the company a “buy” rating in a Tuesday, April 19 research report. Morgan Stanley lowered its price target on Synchrony Financial shares from $40.00 to $31.00 and set an “equal weight” rating for the company in a Tuesday, July 12 research report. Finally, JMP Securities lowered its price target on Synchrony Financial shares from $50.00 to $40.00 and set a “market outperformance” rating for the company in a research report on Friday. One research analyst rated the stock with a sell rating, five gave the company a hold rating, and eleven gave the company a buy rating. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $47.18.
Synchrony Financial Company Profile
Synchrony Financial, together with its subsidiaries, operates as a consumer financial services company in the United States. It provides credit products, such as credit cards, commercial credit products and consumer installment loans. The company also offers private label credit cards, dual cards, co-branded and general purpose credit cards, short and long term installment loans and consumer banking products; and deposit products, including certificates of deposit, individual retirement accounts, money market accounts, and savings accounts for retail and commercial customers, as well as deposits through brokerage firms in third-party securities.
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