CENTRAL TRUST Co cut its stake in shares of Synchrony Financial (NYSE:SYF) by 12.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,100 shares of the financial services provider’s stock after selling 1,534 shares during the period. CENTRAL TRUST Co’s holdings in Synchrony Financial were worth $331,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in SYF. National Pension Service raised its position in shares of Synchrony Financial by 1.8% in the first quarter. National Pension Service now owns 669,224 shares of the financial services provider’s stock valued at $23,041,000 after buying an additional 11,797 shares in the last quarter. Augustine Asset Management Inc. raised its position in shares of Synchrony Financial by 11.2% in the first quarter. Augustine Asset Management Inc. now owns 72,988 shares of the financial services provider’s stock valued at $2,503,000 after buying an additional 7,338 shares in the last quarter. Gulf International Bank UK Ltd raised its position in shares of Synchrony Financial by 1.2% in the first quarter. Gulf International Bank UK Ltd now owns 253,645 shares of the financial services provider’s stock valued at $8,700,000 after buying an additional 3,100 shares in the last quarter. Creative Planning raised its position in shares of Synchrony Financial by 4.3% in the first quarter. Creative Planning now owns 5,863 shares of the financial services provider’s stock valued at $201,000 after buying an additional 240 shares in the last quarter. Finally, Raymond James Trust N.A. raised its position in shares of Synchrony Financial by 4.3% in the first quarter. Raymond James Trust N.A. now owns 6,625 shares of the financial services provider’s stock valued at $227,000 after buying an additional 274 shares in the last quarter. Institutional investors own 88.04% of the company’s stock.

Shares of Synchrony Financial (NYSE SYF) opened at 29.65 on Tuesday. The stock has a market cap of $24.05 billion, a PE ratio of 11.31 and a beta of 1.01. Synchrony Financial has a 52-week low of $26.01 and a 52-week high of $38.06. The company’s 50-day moving average price is $28.13 and its 200-day moving average price is $33.15.

Synchrony Financial (NYSE:SYF) last announced its earnings results on Friday, April 28th. The financial services provider reported $0.61 EPS for the quarter, missing the consensus estimate of $0.74 by $0.13. Synchrony Financial had a net margin of 14.21% and a return on equity of 15.42%. The company had revenue of $3.59 billion for the quarter, compared to analysts’ expectations of $3.54 billion. During the same period in the prior year, the company earned $0.70 earnings per share. Analysts expect that Synchrony Financial will post $2.58 earnings per share for the current year.

Synchrony Financial announced that its Board of Directors has approved a stock repurchase plan on Thursday, May 18th that authorizes the company to buyback $1.64 billion in shares. This buyback authorization authorizes the financial services provider to repurchase up to 7.6% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

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Several equities analysts have commented on the stock. Wells Fargo & Company assumed coverage on shares of Synchrony Financial in a research note on Wednesday, March 29th. They issued an “outperform” rating on the stock. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $44.00 price objective on shares of Synchrony Financial in a report on Tuesday, April 11th. CIBC reissued a “market perform” rating on shares of Synchrony Financial in a report on Tuesday, April 11th. Oppenheimer Holdings, Inc. assumed coverage on Synchrony Financial in a report on Tuesday, April 11th. They issued a “market perform” rating for the company. Finally, BMO Capital Markets reissued a “buy” rating and issued a $38.00 price objective on shares of Synchrony Financial in a report on Tuesday, April 11th. Eight investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $37.58.

In related news, Director Will W. Graylin bought 18,000 shares of Synchrony Financial stock in a transaction dated Monday, May 1st. The stock was acquired at an average cost of $27.80 per share, with a total value of $500,400.00. Following the completion of the acquisition, the director now directly owns 55,389 shares in the company, valued at approximately $1,539,814.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.03% of the company’s stock.

Synchrony Financial Company Profile

Synchrony Financial is a consumer financial services company. The Company provides a range of credit products through programs it has established with a group of national and regional retailers, local merchants, manufacturers, buying groups, industry associations and healthcare service providers. The Company’s revenue activities are managed through three sales platforms: Retail Card, Payment Solutions and CareCredit.

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

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