Synchrony Financial (NYSE:SYF) Stock Position Lifted by Vest Financial LLC

Vest Financial LLC grew its position in Synchrony Financial (NYSE:SYF) by 18.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 519,761 shares of the financial services provider’s stock after acquiring an additional 79,857 shares during the quarter. Vest Financial LLC owned approximately 0.13% of Synchrony Financial worth $24,528,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in SYF. Quent Capital LLC increased its stake in Synchrony Financial by 15.4% during the first quarter. Quent Capital LLC now owns 1,604 shares of the financial services provider’s stock valued at $69,000 after purchasing an additional 214 shares during the last quarter. Gulf International Bank UK Ltd grew its position in shares of Synchrony Financial by 0.7% during the 1st quarter. Gulf International Bank UK Ltd now owns 35,223 shares of the financial services provider’s stock valued at $1,518,000 after buying an additional 262 shares during the last quarter. Certuity LLC raised its stake in Synchrony Financial by 0.8% during the second quarter. Certuity LLC now owns 31,326 shares of the financial services provider’s stock worth $1,478,000 after acquiring an additional 264 shares during the period. Mutual of America Capital Management LLC lifted its holdings in Synchrony Financial by 0.3% in 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 acquiring an additional 265 shares during the last quarter. Finally, US Bancorp DE boosted its stake in Synchrony Financial by 0.8% in the fourth quarter. US Bancorp DE now owns 34,804 shares of the financial services provider’s stock valued at $1,329,000 after acquiring an additional 268 shares during the period. 96.48% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. BTIG Research started coverage on Synchrony Financial in a research report on Friday, June 7th. They set a “buy” rating and a $60.00 price target on the stock. Robert W. Baird initiated coverage on Synchrony Financial in a research note on Friday, June 28th. They issued an “outperform” rating and a $56.00 target price on the stock. Baird R W raised shares of Synchrony Financial to a “strong-buy” rating in a report on Friday, June 28th. Bank of America raised shares of Synchrony Financial from a “neutral” rating to a “buy” rating and set a $54.00 target price for the company in a research note on Friday, August 9th. Finally, Barclays lifted their price target on Synchrony Financial from $46.00 to $49.00 and gave the company an “equal weight” rating in a report on Thursday, July 18th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.41.

Synchrony Financial Stock Performance

NYSE:SYF opened at $45.84 on Thursday. The company has a 50-day moving average of $48.30 and a 200-day moving average of $44.95. The firm has a market cap of $18.41 billion, a price-to-earnings ratio of 6.58, a price-to-earnings-growth ratio of 1.11 and a beta of 1.62. 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 twelve month low of $27.30 and a twelve month high of $52.67.

Synchrony Financial (NYSE:SYF) last issued its earnings results on Wednesday, July 17th. The financial services provider reported $1.55 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.20. The firm had revenue of $5.58 billion during the quarter, compared to analysts’ expectations of $4.44 billion. Synchrony Financial had a net margin of 13.52% and a return on equity of 16.06%. During the same period last year, the firm posted $1.32 earnings per share. Analysts forecast that Synchrony Financial will post 5.79 earnings per share for the current fiscal year.

Synchrony Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 5th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date of this dividend was Monday, August 5th. Synchrony Financial’s payout ratio is 14.35%.

Insider Transactions at Synchrony Financial

In related news, insider Bart Schaller sold 930 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $50.84, for a total value of $47,281.20. Following the completion of the transaction, the insider now owns 49,390 shares in the company, valued at approximately $2,510,987.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Bart Schaller sold 930 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $50.84, for a total value of $47,281.20. Following the completion of the sale, the insider now owns 49,390 shares in the company, valued at approximately $2,510,987.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Brian J. Sr. Wenzel sold 74,698 shares of Synchrony Financial stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $46.73, for a total transaction of $3,490,637.54. Following the transaction, the insider now owns 76,251 shares in the company, valued at $3,563,209.23. The disclosure for this sale can be found here. 0.33% of the stock is owned by insiders.

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.