Wilmington Savings Fund Society FSB Buys New Shares in Synchrony Financial (NYSE:SYF)

Wilmington Savings Fund Society FSB purchased a new position in shares of Synchrony Financial (NYSE:SYF) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 4,354 shares of the financial services provider’s stock, valued at approximately $217,000.

A number of other large investors also recently bought and sold shares of SYF. Larson Financial Group LLC lifted its stake in shares of Synchrony Financial by 92.7% in the 3rd quarter. Larson Financial Group LLC now owns 607 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 292 shares in the last quarter. Altshuler Shaham Ltd acquired a new position in Synchrony Financial during the second quarter valued at approximately $31,000. International Assets Investment Management LLC purchased a new stake in Synchrony Financial during the second quarter worth approximately $33,000. WR Wealth Planners LLC grew its stake in Synchrony Financial by 83.6% during the second quarter. WR Wealth Planners LLC now owns 716 shares of the financial services provider’s stock worth $34,000 after buying an additional 326 shares during the period. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of Synchrony Financial in the second quarter worth $39,000. Hedge funds and other institutional investors own 96.48% of the company’s stock.

Analyst Ratings Changes

SYF has been the topic of several recent research reports. JMP Securities restated a “market outperform” rating and set a $60.00 target price on shares of Synchrony Financial in a report on Monday, October 14th. Royal Bank of Canada boosted their price objective on Synchrony Financial from $55.00 to $62.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 17th. TD Cowen increased their target price on Synchrony Financial from $60.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Barclays boosted their price target on Synchrony Financial from $49.00 to $59.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Finally, Evercore ISI increased their price objective on shares of Synchrony Financial from $58.00 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $61.53.

Synchrony Financial Stock Down 5.4 %

Shares of NYSE:SYF opened at $63.59 on Thursday. Synchrony Financial has a 1-year low of $35.29 and a 1-year high of $69.39. The company’s fifty day moving average is $62.11 and its two-hundred day moving average is $52.67. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.25 and a current ratio of 1.25. The stock has a market capitalization of $24.76 billion, a price-to-earnings ratio of 8.30, a price-to-earnings-growth ratio of 0.82 and a beta of 1.63.

Synchrony Financial (NYSE:SYF) last issued its earnings results on Wednesday, October 16th. The financial services provider reported $1.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.77 by $0.17. The firm had revenue of $3.81 billion for the quarter, compared to analysts’ expectations of $3.76 billion. Synchrony Financial had a net margin of 13.98% and a return on equity of 16.64%. Synchrony Financial’s revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the company posted $1.48 earnings per share. Equities analysts anticipate that Synchrony Financial will post 6.51 EPS for the current year.

Synchrony Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 4th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $1.00 dividend on an annualized basis and a yield of 1.57%. Synchrony Financial’s payout ratio is currently 13.05%.

Insiders Place Their Bets

In other Synchrony Financial news, insider Curtis Howse sold 21,934 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $55.13, for a total value of $1,209,221.42. Following the sale, the insider now owns 99,743 shares in the company, valued at approximately $5,498,831.59. This trade represents a 18.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jonathan S. Mothner sold 34,163 shares of Synchrony Financial stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $64.99, for a total value of $2,220,253.37. Following the sale, the insider now directly owns 127,587 shares in the company, valued at approximately $8,291,879.13. This trade represents a 21.12 % decrease in their position. The disclosure for this sale can be found here. 0.33% of the stock is owned by corporate insiders.

Synchrony Financial Company Profile

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.