Sterling Capital Management LLC Sells 11,485 Shares of Synchrony Financial $SYF

Sterling Capital Management LLC reduced its position in Synchrony Financial (NYSE:SYF) by 55.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,413 shares of the financial services provider’s stock after selling 11,485 shares during the quarter. Sterling Capital Management LLC’s holdings in Synchrony Financial were worth $668,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of SYF. Bank of America Corp DE acquired a new position in shares of Synchrony Financial in the 2nd quarter valued at $1,122,961,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Synchrony Financial during the 2nd quarter worth about $22,798,000. Raiffeisen Bank International AG lifted its holdings in shares of Synchrony Financial by 7,984.0% during the 2nd quarter. Raiffeisen Bank International AG now owns 23,282 shares of the financial services provider’s stock worth $1,825,000 after acquiring an additional 22,994 shares during the period. Basswood Capital Management L.L.C. acquired a new stake in shares of Synchrony Financial during the 2nd quarter valued at about $45,734,000. Finally, Munich Reinsurance Co Stock Corp in Munich boosted its position in shares of Synchrony Financial by 243.6% during the 2nd quarter. Munich Reinsurance Co Stock Corp in Munich now owns 258,224 shares of the financial services provider’s stock valued at $19,638,000 after acquiring an additional 183,076 shares in the last quarter. Institutional investors and hedge funds own 96.48% of the company’s stock.

Synchrony Financial Stock Performance

Shares of NYSE:SYF opened at $75.06 on Wednesday. Synchrony Financial has a 52 week low of $63.08 and a 52 week high of $88.77. The company’s fifty day moving average is $75.21 and its 200-day moving average is $73.77.

Synchrony Financial (NYSE:SYF) last posted its earnings results on Tuesday, October 20th. The financial services provider reported $2.68 earnings per share for the quarter, topping the consensus estimate of $2.42 by $0.26. The firm had revenue of $3.82 billion during the quarter, compared to the consensus estimate of $3.81 billion. During the same period in the previous year, the company posted $2.86 EPS. As a group, equities research analysts anticipate that Synchrony Financial will post 9.60 earnings per share for the current fiscal year.

Synchrony Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Thursday, November 5th will be issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Thursday, November 5th.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on SYF shares. Weiss Ratings raised shares of Synchrony Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. TD Cowen cut their price target on shares of Synchrony Financial from $90.00 to $86.00 and set a “buy” rating for the company in a research note on Tuesday, October 6th. Morgan Stanley decreased their price objective on Synchrony Financial from $84.00 to $83.00 and set an “equal weight” rating on the stock in a report on Monday, October 12th. Robert W. Baird upped their price objective on Synchrony Financial from $86.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, July 22nd. Finally, Barclays increased their target price on Synchrony Financial from $93.00 to $94.00 and gave the stock an “overweight” rating in a report on Wednesday, October 21st. Ten research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, Synchrony Financial has an average rating of “Moderate Buy” and an average price target of $87.83.

About Synchrony Financial

Synchrony Financial (NYSE: SYF) is a consumer financial services company that provides private-label credit cards, co-branded credit cards and promotional financing programs. Its financing products are offered through retailers, manufacturers, healthcare providers and other businesses, helping consumers pay for purchases over time.

The company serves a range of industries, including digital commerce, home improvement, furniture, automotive, healthcare, jewelry, apparel, electronics and specialty retail.