Oppenheimer & Co. Inc. lifted its position in Synchrony Financial (NYSE:SYF) by 6.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 66,361 shares of the financial services provider’s stock after purchasing an additional 3,969 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Synchrony Financial were worth $2,062,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of SYF. First Mercantile Trust Co. acquired a new position in Synchrony Financial during the second quarter worth $120,000. Assetmark Inc. raised its stake in Synchrony Financial by 98.1% during the second quarter. Assetmark Inc. now owns 4,327 shares of the financial services provider’s stock worth $144,000 after acquiring an additional 2,143 shares in the last quarter. AdvisorNet Financial Inc raised its stake in Synchrony Financial by 111.6% during the second quarter. AdvisorNet Financial Inc now owns 5,202 shares of the financial services provider’s stock worth $174,000 after acquiring an additional 2,744 shares in the last quarter. Dynamic Advisor Solutions LLC acquired a new position in Synchrony Financial during the second quarter worth $212,000. Finally, Hollencrest Capital Management acquired a new position in Synchrony Financial during the third quarter worth $219,000. Institutional investors and hedge funds own 84.96% of the company’s stock.
Shares of SYF stock opened at $29.44 on Friday. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.70. The firm has a market cap of $20.66 billion, a PE ratio of 11.24, a price-to-earnings-growth ratio of 0.80 and a beta of 1.06. Synchrony Financial has a 52 week low of $27.60 and a 52 week high of $40.59.
Synchrony Financial (NYSE:SYF) last announced its earnings results on Friday, October 19th. The financial services provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.80 by $0.11. The company had revenue of $4.21 billion for the quarter, compared to analysts’ expectations of $4.18 billion. Synchrony Financial had a return on equity of 17.90% and a net margin of 13.70%. During the same quarter in the prior year, the business earned $0.70 earnings per share. As a group, equities analysts predict that Synchrony Financial will post 3.48 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Monday, November 5th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 2.85%. The ex-dividend date of this dividend is Friday, November 2nd. Synchrony Financial’s payout ratio is presently 32.06%.
Several research analysts have issued reports on SYF shares. Compass Point reiterated a “buy” rating and set a $39.00 price objective on shares of Synchrony Financial in a research note on Monday, July 30th. Zacks Investment Research upgraded Synchrony Financial from a “hold” rating to a “buy” rating and set a $35.00 price objective for the company in a research note on Monday, October 8th. Barclays lowered Synchrony Financial from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $53.00 to $32.00 in a research note on Monday, July 30th. Stephens reiterated a “hold” rating and set a $32.00 price objective on shares of Synchrony Financial in a research note on Friday, July 27th. Finally, Oppenheimer reiterated a “hold” rating on shares of Synchrony Financial in a research note on Friday, July 27th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $37.81.
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.
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