Westpac Banking Corp Has $5.15 Million Holdings in Synchrony Financial (NYSE:SYF)

Westpac Banking Corp boosted its stake in Synchrony Financial (NYSE:SYFFree Report) by 28.9% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 134,810 shares of the financial services provider’s stock after buying an additional 30,259 shares during the period. Westpac Banking Corp’s holdings in Synchrony Financial were worth $5,148,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Massmutual Trust Co. FSB ADV raised its stake in shares of Synchrony Financial by 44.1% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,274 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 390 shares during the last quarter. Wetzel Investment Advisors Inc. bought a new position in Synchrony Financial in the 4th quarter valued at $55,000. Principal Securities Inc. acquired a new position in Synchrony Financial in the fourth quarter worth $60,000. Systematic Alpha Investments LLC bought a new stake in shares of Synchrony Financial during the third quarter worth $100,000. Finally, Private Trust Co. NA increased its stake in shares of Synchrony Financial by 13.4% in the fourth quarter. Private Trust Co. NA now owns 2,711 shares of the financial services provider’s stock valued at $104,000 after buying an additional 320 shares in the last quarter. 96.48% of the stock is currently owned by institutional investors.

Synchrony Financial Stock Down 2.7 %

Shares of SYF stock traded down $1.20 on Wednesday, hitting $43.98. 2,947,677 shares of the stock were exchanged, compared to its average volume of 4,413,512. The business has a 50-day moving average of $42.82 and a 200 day moving average of $38.35. Synchrony Financial has a fifty-two week low of $27.30 and a fifty-two week high of $46.72. The firm has a market capitalization of $17.66 billion, a P/E ratio of 6.26, a price-to-earnings-growth ratio of 1.08 and a beta of 1.58. The company has a current ratio of 1.24, a quick ratio of 1.23 and a debt-to-equity ratio of 1.15.

Synchrony Financial (NYSE:SYFGet Free Report) last released its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.19). The firm had revenue of $5.57 billion for the quarter, compared to analyst estimates of $4.44 billion. Synchrony Financial had a return on equity of 16.01% and a net margin of 13.49%. During the same period last year, the company earned $1.35 EPS. Equities analysts anticipate that Synchrony Financial will post 5.7 EPS for the current year.

Synchrony Financial announced that its board has initiated a stock repurchase program on Wednesday, April 24th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to repurchase up to 5.5% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its stock is undervalued.

Synchrony Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, May 6th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date of this dividend is Friday, May 3rd. Synchrony Financial’s dividend payout ratio (DPR) is currently 14.35%.

Insider Buying and Selling at Synchrony Financial

In other news, insider Brian D. Doubles sold 134,696 shares of the stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $41.26, for a total transaction of $5,557,556.96. Following the completion of the transaction, the insider now directly owns 660,353 shares in the company, valued at approximately $27,246,164.78. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, insider Curtis Howse sold 6,179 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $42.82, for a total value of $264,584.78. Following the transaction, the insider now owns 152,604 shares of the company’s stock, valued at $6,534,503.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brian D. Doubles sold 134,696 shares of Synchrony Financial stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $41.26, for a total value of $5,557,556.96. Following the sale, the insider now directly owns 660,353 shares of the company’s stock, valued at $27,246,164.78. The disclosure for this sale can be found here. In the last three months, insiders have sold 172,437 shares of company stock worth $7,242,432. Insiders own 0.65% of the company’s stock.

Analyst Ratings Changes

SYF has been the topic of several research reports. Barclays upped their price target on shares of Synchrony Financial from $36.00 to $37.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. BMO Capital Markets increased their price target on Synchrony Financial from $40.00 to $41.00 and gave the company a “market perform” rating in a research note on Thursday, April 25th. TD Cowen lifted their price objective on Synchrony Financial from $49.00 to $51.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Stephens increased their target price on Synchrony Financial from $40.00 to $46.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 24th. Finally, JPMorgan Chase & Co. boosted their target price on Synchrony Financial from $42.00 to $46.00 and gave the stock a “neutral” rating in a research report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $43.74.

Get Our Latest Report on SYF

Synchrony Financial Profile

(Free Report)

Synchrony Financial, together with its subsidiaries, operates as a consumer financial services company in the United States. It provides credit products, such as credit cards, commercial credit products, and consumer installment loans. The company also offers private label credit cards, dual co-brand and general purpose credit cards, short- and long-term installment loans, and consumer banking products; and deposit products, including certificates of deposit, individual retirement accounts, money market accounts, and savings accounts, and sweep and affinity deposits, as well as accepts deposits through third-party securities brokerage firms.

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

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