Allworth Financial LP reduced its position in Synchrony Financial (NYSE: SYF – Get a rating) by 35.7% in the 1st quarter, according to its last filing with the Securities and Exchange Commission. The company held 967 shares of the financial services provider after selling 538 shares during the quarter. Allworth Financial LP’s holdings in Synchrony Financial were worth $34,000 when it last filed with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also recently changed their stock holdings. CVA Family Office LLC bought a new position in Synchrony Financial in the fourth quarter worth about $30,000. Blue Bell Private Wealth Management LLC bought a new position in Synchrony Financial in the fourth quarter worth about $30,000. Spire Wealth Management increased its position 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 purchasing an additional 805 shares during the period. Massmutual Trust Co. FSB ADV increased its position in Synchrony Financial by 115.7% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 964 shares of the financial services provider valued at $45,000 after buying an additional 517 shares during the period. Finally, Andrew Hill Investment Advisors Inc. bought a new position in Synchrony Financial in the fourth quarter worth about $46,000. 98.26% of the shares are currently held by institutional investors and hedge funds.
NYSE: SYF opened at $30.46 on Wednesday. The company has a market cap of $15.28 billion, a price-to-earnings ratio of 4.13, a growth price-to-earnings ratio of 0.23, and a beta of 1.52. Synchrony Financial has a 1-year low of $27.22 and a 1-year high of $52.49. The stock has a 50-day simple moving average of $32.56 and a 200-day simple moving average of $38.08. The company has a debt ratio of 1.05, a quick ratio of 1.18 and a current ratio of 1.24.
Synchrony Financial (NYSE: SYF – Get a rating) last released its quarterly results on Monday, April 18. The financial services provider reported EPS of $1.73 for the quarter, beating analyst consensus estimates of $1.53 by $0.20. The company posted revenue of $3.79 billion in the quarter, versus a consensus estimate of $2.66 billion. Synchrony Financial had a return on equity of 29.99% and a net margin of 26.26%. During the same period last year, the company earned earnings per share of $1.73. On average, equity research analysts expect Synchrony Financial to post EPS of 5.63 for the current fiscal year.
Synchrony Financial said its board approved a share buyback program on Monday, April 18 that allows the company to repurchase $2.80 billion worth of stock. This repurchase authorization allows the financial services provider to repurchase up to 13.6% of its shares through purchases on the open market. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.
The company also recently declared a quarterly dividend, which was paid on Thursday, May 12. Investors 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 yield of 2.89%. Synchrony Financial’s dividend payout ratio (DPR) is 11.94%.
Several research companies commented on SYF. Piper Sandler cut her price target on Synchrony Financial from $49.00 to $42.00 and set an “overweight” rating on the stock in a Wednesday, June 29 research report. Wolfe Research downgraded Synchrony Financial from a “peer performing” rating to an “underperforming” rating and set a target price of $22.00 for the company. in a research note on Thursday, May 12. Barclays lowered its target price on Synchrony Financial from $64.00 to $49.00 and set an “overweight” rating for the company in a research note on Monday. Stephens lowered his target price on Synchrony Financial from $54.00 to $47.00 and set an “equal weight” rating for the company in a Tuesday, April 19 research note. Finally, Keefe, Bruyette & Woods lowered their target price on Synchrony Financial from $59.00 to $46.00 in a research note on Monday. One research analyst rated the stock with a sell rating, four gave the company a hold rating and twelve gave the company a buy rating. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $48.88.
Synchrony financial 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, 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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