Commonwealth Bank of Australia raised its position in shares of Synchrony Financial (NYSE:SYF) by 4.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,828 shares of the financial services provider’s stock after acquiring an additional 3,400 shares during the period. Commonwealth Bank of Australia’s holdings in Synchrony Financial were worth $2,538,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. First Mercantile Trust Co. bought a new position in shares of Synchrony Financial during the 2nd quarter valued at approximately $120,000. Assetmark Inc. increased its position in shares of Synchrony Financial by 98.1% during the 2nd quarter. Assetmark Inc. now owns 4,327 shares of the financial services provider’s stock valued at $144,000 after purchasing an additional 2,143 shares during the last quarter. Ayalon Holdings Ltd. bought a new position in shares of Synchrony Financial during the 3rd quarter valued at approximately $140,000. AdvisorNet Financial Inc increased its position in shares of Synchrony Financial by 111.6% during the 2nd quarter. AdvisorNet Financial Inc now owns 5,202 shares of the financial services provider’s stock valued at $174,000 after purchasing an additional 2,744 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC bought a new position in shares of Synchrony Financial during the 2nd quarter valued at approximately $212,000. 85.21% of the stock is currently owned by hedge funds and other institutional investors.
SYF has been the topic of several analyst reports. Stephens downgraded Synchrony Financial from an “equal weight” rating to a “sell” rating and set a $26.00 target price on the stock. in a research report on Friday, November 2nd. Bank of America downgraded Synchrony Financial from a “buy” rating to a “neutral” rating and set a $34.00 target price on the stock. in a research report on Wednesday, September 26th. Oppenheimer reissued a “hold” rating on shares of Synchrony Financial in a research report on Monday, August 6th. Edward Jones downgraded Synchrony Financial from a “buy” rating to a “hold” rating in a research report on Friday, July 27th. Finally, ValuEngine downgraded Synchrony Financial from a “hold” rating to a “sell” rating in a research report on Thursday, July 26th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $37.06.
Shares of Synchrony Financial stock opened at $25.53 on Tuesday. The firm has a market capitalization of $18.62 billion, a price-to-earnings ratio of 9.74, a price-to-earnings-growth ratio of 0.70 and a beta of 1.05. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.40 and a current ratio of 1.40. Synchrony Financial has a 52 week low of $25.20 and a 52 week high of $40.59.
Synchrony Financial (NYSE:SYF) last announced its quarterly earnings data on Friday, October 19th. The financial services provider reported $0.91 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.11. The company had revenue of $4.21 billion for the quarter, compared to the consensus estimate of $4.18 billion. Synchrony Financial had a return on equity of 17.90% and a net margin of 13.70%. During the same quarter in the prior year, the company posted $0.70 EPS. On average, equities analysts expect that Synchrony Financial will post 3.54 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 15th. Shareholders of record on Monday, November 5th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 3.29%. The ex-dividend date was Friday, November 2nd. Synchrony Financial’s dividend payout ratio (DPR) is presently 32.06%.
Synchrony Financial Profile
Synchrony Financial operates as a consumer financial services company in the United States. The company offers private label credit cards, dual cards, general purpose co-branded credit cards, and small and medium-sized business credit products; and promotional financing for consumer purchases, such as private label credit cards and installment loans.
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