National Bank of Canada FI Increases Stock Holdings in Synchrony Financial (NYSE:SYF)

National Bank of Canada FI grew its holdings in shares of Synchrony Financial (NYSE:SYF) by 119.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 243,040 shares of the financial services provider’s stock after purchasing an additional 132,047 shares during the period. National Bank of Canada FI owned about 0.06% of Synchrony Financial worth $12,123,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in SYF. Larson Financial Group LLC lifted its holdings in Synchrony Financial by 92.7% during the 3rd quarter. Larson Financial Group LLC now owns 607 shares of the financial services provider’s stock worth $30,000 after buying an additional 292 shares in the last quarter. Altshuler Shaham Ltd purchased a new position in Synchrony Financial in the second quarter valued at $31,000. International Assets Investment Management LLC acquired a new position in Synchrony Financial during the 2nd quarter worth $33,000. WR Wealth Planners LLC increased its holdings in Synchrony Financial by 83.6% during the 2nd quarter. WR Wealth Planners LLC now owns 716 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 326 shares during the period. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in Synchrony Financial in the 2nd quarter valued at about $39,000. Institutional investors and hedge funds own 96.48% of the company’s stock.

Synchrony Financial Price Performance

Shares of NYSE:SYF opened at $66.90 on Wednesday. Synchrony Financial has a 52 week low of $35.12 and a 52 week high of $69.39. The company has a 50-day moving average price of $59.78 and a 200 day moving average price of $51.55. The company has a market cap of $26.05 billion, a P/E ratio of 8.73, a PEG ratio of 0.94 and a beta of 1.63. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.06.

Synchrony Financial (NYSE:SYF) last posted its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.94 EPS for the quarter, beating the consensus estimate of $1.77 by $0.17. The business had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $3.76 billion. Synchrony Financial had a return on equity of 16.64% and a net margin of 13.98%. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period last year, the firm earned $1.48 EPS. Research analysts predict that Synchrony Financial will post 6.53 earnings per share 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 $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.49%. The ex-dividend date of this dividend was Monday, November 4th. Synchrony Financial’s dividend payout ratio (DPR) is 13.05%.

Insiders Place Their Bets

In related news, insider Jonathan S. Mothner sold 34,163 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $8,291,879.13. This represents a 21.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Curtis Howse sold 21,934 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $55.13, for a total transaction of $1,209,221.42. Following the completion of the sale, the insider now directly owns 99,743 shares in the company, valued at $5,498,831.59. This trade represents a 18.03 % decrease in their position. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

SYF has been the topic of a number of recent research reports. Jefferies Financial Group upped their target price on shares of Synchrony Financial from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Compass Point increased their target price on Synchrony Financial from $60.00 to $77.00 and gave the company a “buy” rating in a report on Tuesday. JPMorgan Chase & Co. raised Synchrony Financial from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $59.00 to $72.00 in a report on Monday. BTIG Research cut Synchrony Financial from a “buy” rating to a “neutral” rating in a research note on Monday, September 16th. Finally, Evercore ISI raised their price objective on shares of Synchrony Financial from $58.00 to $65.00 and gave the stock an “outperform” rating in a 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 given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Synchrony Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.53.

Synchrony Financial 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.