Investors Sell Shares of Synchrony Financial (NYSE:SYF) on Strength (NYSE:SYF)
Traders sold shares of Synchrony Financial (NYSE:SYF) on strength during trading on Tuesday. $20.82 million flowed into the stock on the tick-up and $36.88 million flowed out of the stock on the tick-down, for a money net flow of $16.06 million out of the stock. Of all stocks tracked, Synchrony Financial had the 21st highest net out-flow for the day. Synchrony Financial traded up $0.32 for the day and closed at $30.72
A number of research firms recently issued reports on SYF. TheStreet upgraded Synchrony Financial from a “c” rating to a “b” rating in a research note on Monday, July 31st. BMO Capital Markets restated a “buy” rating and set a $38.00 price target on shares of Synchrony Financial in a research note on Tuesday, April 11th. Citigroup Inc. dropped their price target on Synchrony Financial from $43.00 to $35.00 and set a “buy” rating on the stock in a research note on Monday, May 1st. BTIG Research dropped their price target on Synchrony Financial from $42.00 to $36.00 and set a “buy” rating on the stock in a research note on Monday, May 1st. Finally, Jefferies Group LLC dropped their price target on Synchrony Financial from $45.00 to $40.00 and set a “buy” rating on the stock in a research note on Monday, May 1st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. Synchrony Financial presently has a consensus rating of “Buy” and an average target price of $37.46.
The firm has a market capitalization of $24.43 billion, a price-to-earnings ratio of 11.54 and a beta of 1.01. The company’s 50 day moving average is $29.75 and its 200-day moving average is $31.98.
Synchrony Financial (NYSE:SYF) last posted its earnings results on Friday, July 21st. The financial services provider reported $0.61 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.03. Synchrony Financial had a return on equity of 15.30% and a net margin of 13.84%. The company had revenue of $3.64 billion during the quarter, compared to analyst estimates of $3.59 billion. During the same period in the prior year, the company earned $0.58 earnings per share. Equities analysts anticipate that Synchrony Financial will post $2.60 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 17th. Investors of record on Monday, August 7th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.95%. This is a positive change from Synchrony Financial’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Thursday, August 3rd. Synchrony Financial’s dividend payout ratio is 22.64%.
Synchrony Financial declared that its Board of Directors has initiated a share repurchase program on Thursday, May 18th that allows the company to repurchase $1.64 billion in shares. This repurchase authorization allows the financial services provider to repurchase up to 7.6% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
In other Synchrony Financial news, Director Paget Leonard Alves acquired 2,000 shares of the firm’s stock in a transaction that occurred on Monday, July 24th. The stock was acquired at an average cost of $30.85 per share, with a total value of $61,700.00. Following the acquisition, the director now directly owns 8,521 shares of the company’s stock, valued at approximately $262,872.85. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.03% of the company’s stock.
A number of institutional investors have recently modified their holdings of the company. Keybank National Association OH raised its position in shares of Synchrony Financial by 63.2% in the second quarter. Keybank National Association OH now owns 328,494 shares of the financial services provider’s stock worth $9,796,000 after buying an additional 127,201 shares during the period. Cambridge Investment Research Advisors Inc. raised its position in shares of Synchrony Financial by 124.7% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 15,359 shares of the financial services provider’s stock worth $458,000 after buying an additional 8,525 shares during the period. Pacer Advisors Inc. raised its position in shares of Synchrony Financial by 8.4% in the second quarter. Pacer Advisors Inc. now owns 18,247 shares of the financial services provider’s stock worth $544,000 after buying an additional 1,407 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in shares of Synchrony Financial by 15.0% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 194,457 shares of the financial services provider’s stock worth $5,799,000 after buying an additional 25,435 shares during the period. Finally, Andra AP fonden raised its position in shares of Synchrony Financial by 40.7% in the second quarter. Andra AP fonden now owns 188,100 shares of the financial services provider’s stock worth $5,609,000 after buying an additional 54,400 shares during the period. 89.61% of the stock is owned by institutional investors and hedge funds.
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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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