Synchrony Financial (SYF) Position Lowered by Toronto Dominion Bank
Toronto Dominion Bank decreased its holdings in Synchrony Financial (NYSE:SYF) by 13.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 472,901 shares of the financial services provider’s stock after selling 72,333 shares during the quarter. Toronto Dominion Bank’s holdings in Synchrony Financial were worth $14,695,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. First Mercantile Trust Co. acquired a new position in shares of Synchrony Financial in the second quarter worth about $120,000. Ayalon Holdings Ltd. acquired a new position in shares of Synchrony Financial in the third quarter worth about $140,000. Assetmark Inc. lifted its stake in shares of Synchrony Financial by 98.1% in the second quarter. Assetmark Inc. now owns 4,327 shares of the financial services provider’s stock worth $144,000 after acquiring an additional 2,143 shares in the last quarter. AdvisorNet Financial Inc lifted its stake in shares of Synchrony Financial by 111.6% in the second quarter. AdvisorNet Financial Inc now owns 5,202 shares of the financial services provider’s stock worth $174,000 after acquiring an additional 2,744 shares in the last quarter. Finally, Dynamic Advisor Solutions LLC acquired a new position in shares of Synchrony Financial in the second quarter worth about $212,000. Institutional investors and hedge funds own 85.21% of the company’s stock.
Several analysts have issued reports on SYF shares. ValuEngine cut Synchrony Financial from a “hold” rating to a “sell” rating in a research note on Thursday, July 26th. JPMorgan Chase & Co. cut their price objective on Synchrony Financial from $41.00 to $39.00 and set an “overweight” rating on the stock in a research note on Friday, July 27th. Edward Jones cut Synchrony Financial from a “buy” rating to a “hold” rating in a research note on Friday, July 27th. Oppenheimer restated a “hold” rating on shares of Synchrony Financial in a research note on Friday, July 27th. Finally, Stephens restated a “hold” rating and set a $32.00 price objective on shares of Synchrony Financial in a research note on Friday, July 27th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the stock. Synchrony Financial has a consensus rating of “Hold” and a consensus price target of $37.06.
Synchrony Financial (NYSE:SYF) last posted its earnings results 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 during the quarter, compared to analyst estimates of $4.18 billion. Synchrony Financial had a return on equity of 17.90% and a net margin of 13.70%. During the same period in the prior year, the company earned $0.70 earnings per share. As a group, equities research analysts predict that Synchrony Financial will post 3.54 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, November 15th. Stockholders of record on Monday, November 5th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 3.24%. The ex-dividend date of this dividend was Friday, November 2nd. Synchrony Financial’s dividend payout ratio (DPR) is presently 32.06%.
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Synchrony Financial Company 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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