Toronto Dominion Bank reduced its stake in shares of Synchrony Financial (NYSE:SYF) by 14.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 373,522 shares of the financial services provider’s stock after selling 65,252 shares during the quarter. Toronto Dominion Bank owned 0.06% of Synchrony Financial worth $12,947,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in SYF. FMR LLC lifted its holdings in Synchrony Financial by 1.9% in the first quarter. FMR LLC now owns 33,683,582 shares of the financial services provider’s stock worth $1,074,506,000 after buying an additional 619,258 shares during the period. AQR Capital Management LLC lifted its holdings in Synchrony Financial by 65.2% in the first quarter. AQR Capital Management LLC now owns 10,848,426 shares of the financial services provider’s stock worth $346,065,000 after buying an additional 4,281,422 shares during the period. Geode Capital Management LLC lifted its holdings in Synchrony Financial by 7.1% in the fourth quarter. Geode Capital Management LLC now owns 10,348,447 shares of the financial services provider’s stock worth $242,414,000 after buying an additional 686,204 shares during the period. Northern Trust Corp lifted its holdings in Synchrony Financial by 5.1% in the first quarter. Northern Trust Corp now owns 7,670,887 shares of the financial services provider’s stock worth $244,702,000 after buying an additional 372,055 shares during the period. Finally, Clearbridge Investments LLC lifted its holdings in Synchrony Financial by 7.1% in the first quarter. Clearbridge Investments LLC now owns 7,076,477 shares of the financial services provider’s stock worth $225,740,000 after buying an additional 469,590 shares during the period. 86.62% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have commented on SYF. ValuEngine lowered shares of Synchrony Financial from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. BTIG Research restated a “buy” rating and issued a $42.00 price objective on shares of Synchrony Financial in a report on Monday, July 22nd. Buckingham Research began coverage on shares of Synchrony Financial in a report on Monday, July 22nd. They issued a “buy” rating and a $42.00 price objective for the company. BMO Capital Markets set a $43.00 price objective on shares of Synchrony Financial and gave the stock a “buy” rating in a report on Sunday, July 21st. Finally, Nomura raised their price objective on shares of Synchrony Financial from $39.00 to $43.00 and gave the stock a “buy” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Synchrony Financial currently has a consensus rating of “Buy” and a consensus price target of $38.71.
Shares of SYF stock traded up $0.33 during trading hours on Friday, hitting $34.18. 3,638,360 shares of the company’s stock traded hands, compared to its average volume of 4,206,967. The stock’s fifty day simple moving average is $33.78 and its two-hundred day simple moving average is $33.80. Synchrony Financial has a 12-month low of $21.77 and a 12-month high of $36.87. The stock has a market cap of $22.51 billion, a price-to-earnings ratio of 9.14, a PEG ratio of 0.78 and a beta of 1.18. The company has a quick ratio of 1.25, a current ratio of 1.36 and a debt-to-equity ratio of 1.44.
Synchrony Financial (NYSE:SYF) last released its earnings results on Friday, July 19th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.96 by $0.01. Synchrony Financial had a net margin of 17.82% and a return on equity of 19.50%. The firm had revenue of $4.16 billion during the quarter, compared to analyst estimates of $4.19 billion. During the same period last year, the business earned $0.92 earnings per share. On average, equities analysts forecast that Synchrony Financial will post 4.21 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 5th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.57%. This is a positive change from Synchrony Financial’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Friday, August 2nd. Synchrony Financial’s dividend payout ratio (DPR) is presently 23.53%.
In other news, insider David P. Melito sold 3,204 shares of Synchrony Financial stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $36.00, for a total transaction of $115,344.00. Following the completion of the transaction, the insider now directly owns 23,567 shares in the company, valued at $848,412. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.32% of the stock is currently owned by company insiders.
About Synchrony Financial
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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