SVB Wealth LLC Purchases 317 Shares of Synchrony Financial (NYSE:SYF)

SVB Wealth LLC increased its position in shares of Synchrony Financial (NYSE:SYF) by 2.7% in the 1st quarter, HoldingsChannel reports. The fund owned 12,265 shares of the financial services provider’s stock after acquiring an additional 317 shares during the period. SVB Wealth LLC’s holdings in Synchrony Financial were worth $529,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Fifth Third Bancorp increased its holdings in shares of Synchrony Financial by 0.7% during the first quarter. Fifth Third Bancorp now owns 38,247 shares of the financial services provider’s stock valued at $1,649,000 after acquiring an additional 250 shares in the last quarter. Gulf International Bank UK Ltd raised its holdings in shares of Synchrony Financial by 0.7% in the first quarter. Gulf International Bank UK Ltd now owns 35,223 shares of the financial services provider’s stock worth $1,518,000 after buying an additional 262 shares during the last quarter. Mutual of America Capital Management LLC lifted its stake in shares of Synchrony Financial by 0.3% during the first quarter. Mutual of America Capital Management LLC now owns 90,343 shares of the financial services provider’s stock worth $3,896,000 after buying an additional 265 shares during the period. US Bancorp DE grew its holdings in shares of Synchrony Financial by 0.8% during the fourth quarter. US Bancorp DE now owns 34,804 shares of the financial services provider’s stock valued at $1,329,000 after buying an additional 268 shares during the last quarter. Finally, MV Capital Management Inc. increased its position in shares of Synchrony Financial by 8.3% in the 1st quarter. MV Capital Management Inc. now owns 3,509 shares of the financial services provider’s stock valued at $151,000 after acquiring an additional 270 shares during the period. Hedge funds and other institutional investors own 96.48% of the company’s stock.

Insider Buying and Selling

In other Synchrony Financial news, insider Curtis Howse sold 31,562 shares of the firm’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $45.00, for a total value of $1,420,290.00. Following the sale, the insider now directly owns 121,042 shares in the company, valued at $5,446,890. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.33% of the company’s stock.

Synchrony Financial Stock Up 1.5 %

SYF traded up $0.76 during trading hours on Tuesday, hitting $51.27. 235,945 shares of the company’s stock were exchanged, compared to its average volume of 4,167,418. The firm has a 50 day moving average of $46.12 and a 200 day moving average of $42.99. The firm has a market cap of $20.26 billion, a P/E ratio of 7.34, a price-to-earnings-growth ratio of 1.19 and a beta of 1.63. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 1.09. Synchrony Financial has a 12-month low of $27.30 and a 12-month high of $52.67.

Synchrony Financial (NYSE:SYF) last released its earnings results on Wednesday, July 17th. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.20. Synchrony Financial had a return on equity of 16.06% and a net margin of 13.52%. The firm had revenue of $5.58 billion during the quarter, compared to analyst estimates of $4.44 billion. During the same period last year, the business posted $1.32 earnings per share. Analysts predict that Synchrony Financial will post 5.8 EPS for the current fiscal year.

Synchrony Financial announced that its Board of Directors has authorized a stock repurchase program on Wednesday, April 24th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the financial services provider to buy up to 5.5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Synchrony Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, August 5th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, August 5th. This represents a $1.00 annualized dividend and a dividend yield of 1.95%. Synchrony Financial’s dividend payout ratio (DPR) is currently 14.35%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. JMP Securities lifted their target price on Synchrony Financial from $49.00 to $60.00 and gave the stock a “market outperform” rating in a report on Tuesday, July 16th. TD Cowen upped their target price on Synchrony Financial from $49.00 to $51.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Royal Bank of Canada boosted their price target on shares of Synchrony Financial from $50.00 to $55.00 and gave the stock a “sector perform” rating in a report on Thursday, July 18th. BMO Capital Markets dropped their target price on shares of Synchrony Financial from $42.00 to $41.00 and set a “market perform” rating on the stock in a research report on Thursday, July 18th. Finally, Baird R W upgraded Synchrony Financial to a “strong-buy” rating in a report on Friday, June 28th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.50.

About Synchrony Financial

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 co-brand 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, and sweep and affinity deposits, as well as accepts deposits through third-party securities brokerage firms.