M&T Bank Corp Trims Stock Holdings in Synchrony Financial (NYSE:SYF)

M&T Bank Corp trimmed its holdings in Synchrony Financial (NYSE:SYF) by 9.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,770 shares of the financial services provider’s stock after selling 2,714 shares during the period. M&T Bank Corp’s holdings in Synchrony Financial were worth $675,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Trexquant Investment LP purchased a new position in Synchrony Financial in the 3rd quarter valued at approximately $530,000. Aperio Group LLC boosted its holdings in Synchrony Financial by 4.5% in the 3rd quarter. Aperio Group LLC now owns 252,162 shares of the financial services provider’s stock valued at $6,599,000 after purchasing an additional 10,776 shares during the period. Dean Investment Associates LLC boosted its holdings in Synchrony Financial by 27.6% in the 3rd quarter. Dean Investment Associates LLC now owns 35,482 shares of the financial services provider’s stock valued at $929,000 after purchasing an additional 7,671 shares during the period. Janney Montgomery Scott LLC boosted its holdings in Synchrony Financial by 35.8% in the 3rd quarter. Janney Montgomery Scott LLC now owns 22,801 shares of the financial services provider’s stock valued at $597,000 after purchasing an additional 6,007 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Synchrony Financial by 5.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 347,059 shares of the financial services provider’s stock valued at $9,083,000 after purchasing an additional 18,711 shares during the period. Institutional investors and hedge funds own 91.75% of the company’s stock.

Several research analysts have commented on the stock. Royal Bank of Canada raised their price target on shares of Synchrony Financial from $28.00 to $32.00 and gave the company an “outperform” rating in a report on Wednesday, October 21st. ValuEngine raised shares of Synchrony Financial from a “sell” rating to a “hold” rating in a report on Tuesday, November 10th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Synchrony Financial in a report on Wednesday, September 9th. They issued a “buy” rating and a $30.00 price target for the company. JPMorgan Chase & Co. raised their price target on shares of Synchrony Financial from $24.50 to $30.00 and gave the company a “neutral” rating in a report on Friday, October 9th. Finally, TheStreet raised shares of Synchrony Financial from a “c” rating to a “b-” rating in a report on Tuesday, October 20th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company. Synchrony Financial has an average rating of “Hold” and an average price target of $26.81.

Synchrony Financial stock opened at $29.45 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.44. The company has a market capitalization of $17.19 billion, a PE ratio of 13.51, a P/E/G ratio of 2.38 and a beta of 1.64. The firm has a fifty day simple moving average of $28.05 and a two-hundred day simple moving average of $24.27. Synchrony Financial has a twelve month low of $12.15 and a twelve month high of $38.18.

Synchrony Financial (NYSE:SYF) last posted its quarterly earnings results on Tuesday, October 20th. The financial services provider reported $0.72 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.11). The business had revenue of $3.46 billion during the quarter, compared to the consensus estimate of $2.78 billion. Synchrony Financial had a return on equity of 14.73% and a net margin of 11.79%. During the same period in the prior year, the firm earned $1.22 earnings per share. As a group, equities analysts expect that Synchrony Financial will post 2.22 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 12th. Shareholders of record on Monday, November 2nd were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.99%. The ex-dividend date of this dividend was Friday, October 30th. Synchrony Financial’s dividend payout ratio is presently 20.51%.

About Synchrony Financial

Synchrony Financial operates as a consumer financial services company in the United States. It delivers a range of specialized financing programs and consumer banking products to digital, retail, home, auto, travel, health, and pet industries. The company also 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.

Further Reading: Support Level

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Institutional Ownership by Quarter for Synchrony Financial (NYSE:SYF)

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