Vest Financial LLC Increases Stake in Synchrony Financial (NYSE:SYF)

Vest Financial LLC boosted its position in shares of Synchrony Financial (NYSE:SYF) by 7.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 558,597 shares of the financial services provider’s stock after purchasing an additional 38,836 shares during the quarter. Vest Financial LLC owned about 0.14% of Synchrony Financial worth $27,863,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Headlands Technologies LLC purchased a new stake in Synchrony Financial during the 1st quarter valued at about $28,000. Altshuler Shaham Ltd purchased a new stake in shares of Synchrony Financial during the 2nd quarter valued at about $31,000. International Assets Investment Management LLC purchased a new stake in shares of Synchrony Financial during the 2nd quarter valued at about $33,000. WR Wealth Planners LLC boosted its holdings in shares of Synchrony Financial by 83.6% during the 2nd quarter. WR Wealth Planners LLC now owns 716 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 326 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of Synchrony Financial during the 2nd quarter valued at about $39,000. 96.48% of the stock is owned by hedge funds and other institutional investors.

Synchrony Financial Price Performance

Shares of Synchrony Financial stock traded down $0.28 on Friday, hitting $56.42. 3,876,858 shares of the company traded hands, compared to its average volume of 3,967,448. The stock has a market capitalization of $22.66 billion, a P/E ratio of 8.09, a price-to-earnings-growth ratio of 1.26 and a beta of 1.61. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.23 and a current ratio of 1.23. Synchrony Financial has a 52 week low of $27.30 and a 52 week high of $57.26. The business has a 50-day simple moving average of $49.43 and a 200 day simple moving average of $46.64.

Synchrony Financial (NYSE:SYF) last released its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.77 by $0.17. The firm had revenue of $3.81 billion for the quarter, compared to analysts’ expectations of $3.76 billion. Synchrony Financial had a net margin of 13.52% and a return on equity of 16.06%. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.48 earnings per share. Research analysts expect that Synchrony Financial will post 5.81 earnings per share for the current fiscal year.

Synchrony Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 5th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.77%. The ex-dividend date of this dividend was Monday, August 5th. Synchrony Financial’s payout ratio is currently 14.35%.

Insider Activity

In related news, insider Brian J. Sr. Wenzel sold 74,698 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $46.73, for a total value of $3,490,637.54. Following the sale, the insider now owns 76,251 shares in the company, valued at approximately $3,563,209.23. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Bart Schaller sold 930 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $50.84, for a total value of $47,281.20. Following the sale, the insider now owns 49,390 shares in the company, valued at approximately $2,510,987.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Brian J. Sr. Wenzel sold 74,698 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $46.73, for a total transaction of $3,490,637.54. Following the completion of the sale, the insider now owns 76,251 shares in the company, valued at $3,563,209.23. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Evercore ISI dropped their price target on shares of Synchrony Financial from $59.00 to $58.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. Jefferies Financial Group raised their price target on shares of Synchrony Financial from $60.00 to $65.00 and gave the company a “buy” rating in a report on Thursday. Royal Bank of Canada raised their price objective on shares of Synchrony Financial from $55.00 to $62.00 and gave the stock a “sector perform” rating in a report on Thursday. Compass Point raised their price objective on shares of Synchrony Financial from $56.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Morgan Stanley raised their price objective on shares of Synchrony Financial from $37.00 to $40.00 and gave the stock an “underweight” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $56.25.

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 co-brand 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, and sweep and affinity deposits, as well as accepts deposits through third-party securities brokerage firms.