Hollencrest Capital Management purchased a new stake in Synchrony Financial (NYSE:SYF) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 7,038 shares of the financial services provider’s stock, valued at approximately $219,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. Tdam USA Inc. lifted its stake in Synchrony Financial by 8.0% during the third quarter. Tdam USA Inc. now owns 32,249 shares of the financial services provider’s stock valued at $963,000 after buying an additional 2,380 shares in the last quarter. Mondrian Investment Partners LTD lifted its stake in Synchrony Financial by 0.6% during the third quarter. Mondrian Investment Partners LTD now owns 1,677,138 shares of the financial services provider’s stock valued at $52,125,000 after buying an additional 10,439 shares in the last quarter. Private Advisor Group LLC lifted its stake in Synchrony Financial by 179.2% during the third quarter. Private Advisor Group LLC now owns 23,296 shares of the financial services provider’s stock valued at $724,000 after buying an additional 14,953 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in Synchrony Financial by 469.4% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 35,016 shares of the financial services provider’s stock valued at $1,090,000 after buying an additional 28,866 shares in the last quarter. Finally, Engineers Gate Manager LP purchased a new stake in Synchrony Financial during the third quarter valued at about $1,374,000. 87.44% of the stock is owned by institutional investors.
NYSE SYF opened at $26.72 on Tuesday. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.70. The company has a market capitalization of $19.00 billion, a PE ratio of 10.20, a P/E/G ratio of 0.73 and a beta of 1.05. Synchrony Financial has a 52-week low of $26.13 and a 52-week high of $40.59.
Synchrony Financial (NYSE:SYF) last posted its quarterly earnings results on Friday, October 19th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.11. The business had revenue of $4.21 billion during the quarter, compared to analyst estimates of $4.18 billion. Synchrony Financial had a net margin of 13.70% and a return on equity of 17.90%. During the same period in the prior year, the firm earned $0.70 earnings per share. Sell-side analysts predict that Synchrony Financial will post 3.48 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Monday, November 5th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date of this dividend is Friday, November 2nd. Synchrony Financial’s dividend payout ratio (DPR) is 32.06%.
A number of analysts have commented on the stock. Bank of America lowered shares of Synchrony Financial from a “buy” rating to a “neutral” rating and set a $34.00 price objective for the company. in a research note on Wednesday, September 26th. ValuEngine raised shares of Synchrony Financial from a “sell” rating to a “hold” rating in a research note on Friday, September 14th. Zacks Investment Research raised shares of 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. BMO Capital Markets reduced their price objective on shares of Synchrony Financial from $51.00 to $37.00 and set an “outperform” rating for the company in a research note on Monday, July 30th. Finally, Barclays lowered shares of Synchrony Financial from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $53.00 to $32.00 in a research report on Monday, July 30th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company’s stock. Synchrony Financial presently has a consensus rating of “Hold” and a consensus target price of $37.06.
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Synchrony Financial 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: Institutional Investors
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