Synchrony Financial (NYSE:SYF) Shares Bought by CIBC Asset Management Inc

CIBC Asset Management Inc raised its position in Synchrony Financial (NYSE:SYF) by 5.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 67,772 shares of the financial services provider’s stock after buying an additional 3,501 shares during the period. CIBC Asset Management Inc’s holdings in Synchrony Financial were worth $3,380,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of SYF. Graypoint LLC increased its stake in shares of Synchrony Financial by 4.0% in the 3rd quarter. Graypoint LLC now owns 4,668 shares of the financial services provider’s stock valued at $233,000 after purchasing an additional 181 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Synchrony Financial by 1.1% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 19,995 shares of the financial services provider’s stock valued at $997,000 after purchasing an additional 227 shares during the period. Wedmont Private Capital increased its position in shares of Synchrony Financial by 3.3% in the third quarter. Wedmont Private Capital now owns 7,508 shares of the financial services provider’s stock valued at $387,000 after buying an additional 242 shares in the last quarter. 1832 Asset Management L.P. raised its stake in shares of Synchrony Financial by 0.5% during the 2nd quarter. 1832 Asset Management L.P. now owns 52,242 shares of the financial services provider’s stock worth $2,465,000 after buying an additional 251 shares during the period. Finally, Signaturefd LLC lifted its position in shares of Synchrony Financial by 2.7% during the 3rd quarter. Signaturefd LLC now owns 9,877 shares of the financial services provider’s stock valued at $493,000 after buying an additional 261 shares in the last quarter. Institutional investors and hedge funds own 96.48% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Wells Fargo & Company boosted their price target on shares of Synchrony Financial from $53.00 to $60.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Synchrony Financial from $58.00 to $68.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Royal Bank of Canada lifted their price objective on Synchrony Financial from $55.00 to $62.00 and gave the stock a “sector perform” rating in a report on Thursday, October 17th. Compass Point increased their target price on Synchrony Financial from $56.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $60.00 price target on shares of Synchrony Financial in a research note on Monday, October 14th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Synchrony Financial currently has a consensus rating of “Moderate Buy” and an average target price of $56.60.

Synchrony Financial Trading Down 1.4 %

Shares of SYF stock opened at $64.05 on Tuesday. Synchrony Financial has a 1-year low of $29.15 and a 1-year high of $67.76. The firm has a market cap of $24.94 billion, a PE ratio of 8.36, a price-to-earnings-growth ratio of 0.90 and a beta of 1.59. The company has a 50-day moving average of $54.34 and a two-hundred day moving average of $49.24. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.25 and a quick ratio of 1.25.

Synchrony Financial (NYSE:SYF) last posted its quarterly earnings data 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. The firm had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $3.76 billion. Synchrony Financial had a net margin of 13.98% and a return on equity of 16.64%. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the company posted $1.48 EPS. On average, analysts predict that Synchrony Financial will post 6.52 EPS for the current year.

Synchrony Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 4th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.56%. The ex-dividend date was Monday, November 4th. Synchrony Financial’s payout ratio is 13.05%.

Insider Activity at Synchrony Financial

In other Synchrony Financial news, insider Curtis Howse sold 21,934 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $55.13, for a total transaction of $1,209,221.42. Following the sale, the insider now directly owns 99,743 shares in the company, valued at $5,498,831.59. This represents a 18.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.33% of the stock is currently owned by company insiders.

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.