TD Asset Management Inc. reduced its holdings in Synchrony Financial (NYSE: SYF – Get a rating) by 4.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund held 253,188 shares of the financial services provider after selling 11,213 shares during the quarter. TD Asset Management Inc. owned 0.05% of Synchrony Financial worth $8,814,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently increased or reduced their stakes in SYF. Column Capital Advisors LLC acquired a new stake in Synchrony Financial during the first quarter worth approximately $37,000. Massmutual Trust Co. FSB ADV increased its stake in Synchrony Financial shares by 115.7% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 964 shares of the financial services provider worth $45,000 after buying an additional 517 shares during the period. KRS Capital Management LLC bought a new stock position in Synchrony Financial during Q4, valued at approximately $46,000. Sandy Spring Bank increased its stake in Synchrony Financial shares by 26.1% in Q1. Sandy Spring Bank now owns 1,450 shares of the financial services provider valued at $50,000 after buying an additional 300 shares during the period. Finally, Herold Advisors Inc. purchased a new stake in Synchrony Financial during the first quarter at a value of $52,000. 98.26% of the shares are held by institutional investors and hedge funds.
Changes to analyst ratings
A number of brokerages have weighed in on SYF. StockNews.com upgraded Synchrony Financial shares from a “hold” to a “buy” rating in a Monday, July 25 research report. Morgan Stanley lowered its price target on Synchrony Financial from $40.00 to $31.00 and set an “equal weight” rating on the stock in a Tuesday, July 12 research report. Wolfe Research downgraded Synchrony Financial from a “peer performing” rating to an “underperforming” rating and set a price target of $22.00 for the company. in a research report on Thursday, May 12. Piper Sandler set a target price of $41.00 on Synchrony Financial in a Tuesday, July 19 research report. Finally, TheStreet upgraded Synchrony Financial shares from a “b-” to a “c+” rating in a Tuesday, July 19 research note. One investment analyst has assigned the stock a sell rating, four have assigned a hold rating and twelve have assigned the company’s stock a buy rating. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $45.76.
Performance of Synchrony financial stocks
Shares of Synchrony Financial Action opened at $34.33 on Thursday. The company’s 50-day moving average price is $31.88 and its 200-day moving average price is $35.46. The company has a market capitalization of $16.54 billion, a price-earnings ratio of 5.01, a PEG ratio of 0.25 and a beta of 1.57. The company has a debt ratio of 0.96, a quick ratio of 1.21 and a current ratio of 1.21. Synchrony Financial has a 1-year low of $27.22 and a 1-year high of $52.49.
Synchrony Financial (NYSE: SYF – Get a rating) last released its quarterly results on Monday, July 18. The financial services provider reported EPS of $1.60 for the quarter, beating the consensus estimate of $1.43 by $0.17. Synchrony Financial had a return on equity of 27.06% and a net margin of 22.76%. The company posted revenue of $3.80 billion for the quarter, versus analyst estimates of $2.74 billion. In the same quarter of the previous year, the company achieved EPS of $2.12. On average, research analysts expect Synchrony Financial to post an EPS of 5.79 for the current year.
Synchrony Financial increases its dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, August 11. Shareholders of record on Monday August 1 received a dividend of $0.23. This represents an annualized dividend of $0.92 and a yield of 2.68%. This is a positive change from Synchrony Financial’s previous quarterly dividend of $0.22. The ex-dividend date was Friday, July 29. Synchrony Financial’s payout ratio is currently 13.43%.
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 cards, co-branded 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 for retail and commercial customers, as well as deposits through brokerage firms in third-party securities.
Get news and reviews for Synchrony Financial Daily – Enter your email address below to receive a concise daily summary of breaking news and analyst ratings for Synchrony Financial and related companies with MarketBeat.com’s free daily email newsletter.