OLD National Bancorp IN Has $369,000 Stake in Synchrony Financial (NYSE:SYF)

OLD National Bancorp IN cut its position in shares of Synchrony Financial (NYSE:SYF) by 5.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,394 shares of the financial services provider’s stock after selling 393 shares during the quarter. OLD National Bancorp IN’s holdings in Synchrony Financial were worth $369,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Boston Partners raised its position in shares of Synchrony Financial by 66.6% in the 1st quarter. Boston Partners now owns 6,374,260 shares of the financial services provider’s stock worth $274,892,000 after acquiring an additional 2,548,180 shares in the last quarter. Los Angeles Capital Management LLC increased its holdings in Synchrony Financial by 402.8% in the second quarter. Los Angeles Capital Management LLC now owns 1,520,209 shares of the financial services provider’s stock worth $71,739,000 after purchasing an additional 1,217,872 shares in the last quarter. AQR Capital Management LLC lifted its stake in Synchrony Financial by 14.6% in the second quarter. AQR Capital Management LLC now owns 5,726,704 shares of the financial services provider’s stock valued at $264,917,000 after buying an additional 727,649 shares during the period. Nordea Investment Management AB boosted its holdings in shares of Synchrony Financial by 33.5% during the 1st quarter. Nordea Investment Management AB now owns 2,685,598 shares of the financial services provider’s stock worth $115,266,000 after buying an additional 674,366 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its holdings in shares of Synchrony Financial by 400.2% during the 2nd quarter. Acadian Asset Management LLC now owns 842,539 shares of the financial services provider’s stock worth $39,751,000 after buying an additional 674,093 shares in the last quarter. Institutional investors own 96.48% of the company’s stock.

Wall Street Analysts Forecast Growth

SYF has been the topic of a number of research reports. BTIG Research downgraded shares of Synchrony Financial from a “buy” rating to a “neutral” rating in a research report on Monday, September 16th. Morgan Stanley increased their price objective on shares of Synchrony Financial from $37.00 to $40.00 and gave the stock an “underweight” rating in a research report on Thursday, October 17th. StockNews.com raised Synchrony Financial from a “hold” rating to a “buy” rating in a research report on Wednesday, October 9th. Robert W. Baird set a $62.00 price target on Synchrony Financial in a research note on Thursday, October 17th. Finally, Jefferies Financial Group raised their price objective on Synchrony Financial from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $56.25.

Insider Activity

In related news, insider Bart Schaller sold 930 shares of Synchrony Financial stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $50.84, for a total value of $47,281.20. Following the sale, the insider now owns 49,390 shares of the company’s stock, valued at approximately $2,510,987.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Bart Schaller sold 930 shares of Synchrony Financial stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $50.84, for a total value of $47,281.20. Following the completion of the sale, the insider now owns 49,390 shares of the company’s stock, valued at approximately $2,510,987.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Brian J. Sr. Wenzel sold 74,698 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $46.73, for a total transaction of $3,490,637.54. Following the sale, the insider now directly owns 76,251 shares in the company, valued at approximately $3,563,209.23. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.

Synchrony Financial Stock Performance

Shares of Synchrony Financial stock opened at $55.67 on Wednesday. The business’s fifty day simple moving average is $49.83 and its 200 day simple moving average is $46.88. The company has a current ratio of 1.25, a quick ratio of 1.23 and a debt-to-equity ratio of 1.06. Synchrony Financial has a 12 month low of $27.30 and a 12 month high of $57.26. The firm has a market capitalization of $22.00 billion, a P/E ratio of 7.27, a price-to-earnings-growth ratio of 1.30 and a beta of 1.61.

Synchrony Financial (NYSE:SYF) last issued its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.94 earnings per share for the quarter, topping analysts’ consensus estimates of $1.77 by $0.17. Synchrony Financial had a net margin of 13.98% and a return on equity of 16.64%. The company had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $3.76 billion. During the same period in the previous year, the firm earned $1.48 EPS. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. As a group, analysts anticipate that Synchrony Financial will post 6.09 EPS for the current year.

About Synchrony Financial

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.