Moody’s National Bank Trust Division reduced its stake in Synchrony Financial (NYSE: SYF – Get a rating) by 9.6% in the 1st quarter, according to its most recent communication to the Securities & Exchange Commission. The company held 32,675 shares of the financial services provider after selling 3,476 shares during the quarter. Moody’s National Bank Trust Division holdings in Synchrony Financial were worth $1,137,000 at the end of the most recent period.
Other institutional investors have also recently increased or reduced their stake in the company. Moors & Cabot Inc. acquired a new position in Synchrony Financial during the third quarter worth $26,000. CVA Family Office LLC acquired a new position in Synchrony Financial during the fourth quarter worth $30,000. Blue Bell Private Wealth Management LLC acquired a new position in Synchrony Financial during the fourth quarter worth $30,000. Spire Wealth Management increased its holdings in Synchrony Financial by 1,219.7% during the fourth quarter. Spire Wealth Management now owns 871 shares of the financial services provider worth $40,000 after buying an additional 805 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its stake in Synchrony Financial by 115.7% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 964 shares of the financial services provider worth $45,000 after buying 517 more shares in the last quarter. Institutional investors hold 98.26% of the company’s shares.
Shares of Synchrony Financial Action opened at $28.22 on Friday. The company has a market capitalization of $14.15 billion, a price-earnings ratio of 3.83, a PEG ratio of 0.23 and a beta of 1.43. The company has a quick ratio of 1.18, a current ratio of 1.24 and a debt ratio of 1.05. Synchrony Financial has a 12-month low of $27.40 and a 12-month high of $52.49. The company’s 50-day moving average price is $34.99 and its two-hundred-day moving average price is $39.73.
Synchrony Financial (NYSE: SYF – Get a rating) last released its quarterly results on Monday, April 18. The financial services provider reported earnings per share 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 for the quarter, versus a consensus estimate of $2.66 billion. During the same period last year, the company posted EPS of $1.73. On average, sell-side analysts expect Synchrony Financial to post earnings per share of 5.63 for the current year.
Synchrony Financial announced that its board of directors authorized a stock repurchase plan on Monday, April 18 that allows the company to repurchase $2.80 billion in outstanding stock. This repurchase authorization authorizes the financial services provider to repurchase up to 13.6% of its shares through purchases on the open market. Stock buyback plans often indicate that the company’s management believes its stock is undervalued.
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. The ex-dividend date was Friday, April 29. This represents a dividend of $0.88 on an annualized basis and a dividend yield of 3.12%. Synchrony Financial’s payout ratio is currently 11.94%.
A number of analysts have commented on SYF shares. Wolfe Research 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 note on Thursday, May 12. BMO Capital Markets raised its price target on Synchrony Financial shares from $49.00 to $52.00 and gave the company an “outperform” rating in a Tuesday, April 19 research note. 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. Bank of America lowered its price target on Synchrony Financial shares from $52.00 to $45.00 in a Thursday, March 17 research report. To finish, StockNews.com moved shares of Synchrony Financial from a “hold” rating to a “buy” rating in a research report on Monday. One analyst rated the stock with a sell rating, five assigned a hold rating and thirteen assigned the company a buy rating. Based on MarketBeat data, Synchrony Financial has an average rating of “Moderate Buy” and an average price target of $51.00.
Synchrony Financial Company Profile (Get a rating)
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, trade 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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