Synchrony Financial (SYF) Position Lessened by Keybank National Association OH
Keybank National Association OH reduced its position in shares of Synchrony Financial (NYSE:SYF) by 51.4% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 100,510 shares of the financial services provider’s stock after selling 106,090 shares during the quarter. Keybank National Association OH’s holdings in Synchrony Financial were worth $3,206,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. FineMark National Bank & Trust boosted its holdings in Synchrony Financial by 2.2% in the 1st quarter. FineMark National Bank & Trust now owns 114,758 shares of the financial services provider’s stock valued at $3,661,000 after purchasing an additional 2,417 shares during the period. 361 Capital LLC bought a new stake in Synchrony Financial in the 1st quarter valued at $553,000. LSV Asset Management boosted its holdings in Synchrony Financial by 11.0% in the 1st quarter. LSV Asset Management now owns 124,654 shares of the financial services provider’s stock valued at $3,976,000 after purchasing an additional 12,400 shares during the period. Cadence Capital Management LLC lifted its holdings in shares of Synchrony Financial by 1.1% during the 1st quarter. Cadence Capital Management LLC now owns 53,892 shares of the financial services provider’s stock worth $1,719,000 after acquiring an additional 580 shares during the period. Finally, MERIAN GLOBAL INVESTORS UK Ltd bought a new position in shares of Synchrony Financial during the 1st quarter worth about $130,000. 86.71% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have recently commented on the stock. Zacks Investment Research downgraded shares of Synchrony Financial from a “buy” rating to a “hold” rating in a report on Wednesday, March 27th. ValuEngine raised shares of Synchrony Financial from a “sell” rating to a “hold” rating in a report on Thursday, April 25th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $39.00 price objective on shares of Synchrony Financial in a report on Friday, May 3rd. Nomura raised their price objective on shares of Synchrony Financial from $35.00 to $39.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. Finally, Wells Fargo & Co reaffirmed a “buy” rating on shares of Synchrony Financial in a report on Wednesday, March 13th. Eight investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Synchrony Financial has an average rating of “Buy” and a consensus price target of $37.47.
Synchrony Financial (NYSE:SYF) last announced its earnings results on Thursday, April 18th. The financial services provider reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.12. The business had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $4.29 billion. Synchrony Financial had a net margin of 17.52% and a return on equity of 19.79%. During the same quarter last year, the company posted $0.83 EPS. As a group, equities research analysts forecast that Synchrony Financial will post 4.28 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Monday, May 6th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date of this dividend was Friday, May 3rd. Synchrony Financial’s dividend payout ratio (DPR) is currently 22.46%.
In related news, insider David P. Melito sold 3,204 shares of the stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $34.00, for a total transaction of $108,936.00. Following the completion of the sale, the insider now owns 29,476 shares in the company, valued at approximately $1,002,184. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Henry F. Greig sold 50,000 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $33.00, for a total transaction of $1,650,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 59,218 shares of company stock valued at $1,964,916 in the last quarter. 0.32% of the stock is currently owned by corporate insiders.
Synchrony Financial Company Profile
Synchrony Financial operates as a consumer financial services company in the United States. The company offers private label credit cards, dual cards, general purpose co-branded credit cards, and small and medium-sized business credit products; and promotional financing for consumer purchases, such as private label credit cards and installment loans.
Further Reading: What is the yield curve?
Want to see what other hedge funds are holding SYF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Synchrony Financial (NYSE:SYF).
Receive News & Ratings for Synchrony Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synchrony Financial and related companies with MarketBeat.com's FREE daily email newsletter.