CENTRAL TRUST Co Buys 507 Shares of Synchrony Financial (NYSE:SYF)

CENTRAL TRUST Co boosted its stake in shares of Synchrony Financial (NYSE:SYF) by 6.4% during the third quarter, Holdings Channel.com reports. The fund owned 8,481 shares of the financial services provider’s stock after acquiring an additional 507 shares during the period. CENTRAL TRUST Co’s holdings in Synchrony Financial were worth $423,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its position in shares of Synchrony Financial by 18.5% in the fourth quarter. Wellington Management Group LLP now owns 65,514 shares of the financial services provider’s stock worth $2,502,000 after purchasing an additional 10,207 shares during the period. Park Avenue Securities LLC increased its holdings in Synchrony Financial by 5.0% in the 1st quarter. Park Avenue Securities LLC now owns 12,161 shares of the financial services provider’s stock valued at $524,000 after buying an additional 576 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in shares of Synchrony Financial by 11.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 15,036 shares of the financial services provider’s stock valued at $648,000 after buying an additional 1,530 shares in the last quarter. Hennessy Advisors Inc. lifted its holdings in shares of Synchrony Financial by 76.9% during the 1st quarter. Hennessy Advisors Inc. now owns 23,000 shares of the financial services provider’s stock worth $992,000 after acquiring an additional 10,000 shares during the period. Finally, Kathmere Capital Management LLC acquired a new stake in shares of Synchrony Financial during the 1st quarter worth approximately $222,000. Institutional investors own 96.48% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Bank of America upgraded Synchrony Financial from a “neutral” rating to a “buy” rating and set a $54.00 target price for the company in a research note on Friday, August 9th. BTIG Research downgraded Synchrony Financial from a “buy” rating to a “neutral” rating in a research report on Monday, September 16th. TD Cowen lifted their target price on Synchrony Financial from $60.00 to $62.00 and gave the company a “buy” 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 note on Wednesday, October 9th. Finally, Robert W. Baird set a $62.00 price target on shares of Synchrony Financial in a research note on Thursday, October 17th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $56.25.

Synchrony Financial Stock Performance

Shares of Synchrony Financial stock opened at $55.15 on Friday. The stock has a market cap of $22.15 billion, a price-to-earnings ratio of 7.91, a P/E/G ratio of 1.22 and a beta of 1.61. The company has a quick ratio of 1.23, a current ratio of 1.25 and a debt-to-equity ratio of 1.06. Synchrony Financial has a twelve month low of $27.65 and a twelve month high of $57.26. The company’s fifty day moving average is $50.37 and its 200 day moving average is $47.08.

Synchrony Financial (NYSE:SYF) last released its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.94 EPS for the quarter, beating analysts’ consensus estimates of $1.77 by $0.17. Synchrony Financial had a return on equity of 16.64% and a net margin of 13.98%. The firm had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.76 billion. During the same quarter in the previous year, the company posted $1.48 EPS. The business’s revenue was up 9.8% on a year-over-year basis. Sell-side analysts forecast that Synchrony Financial will post 6.19 EPS for the current year.

Synchrony Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Monday, November 4th will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, November 4th. This represents a $1.00 annualized dividend and a yield of 1.81%. Synchrony Financial’s payout ratio is 14.35%.

Insider Transactions at Synchrony Financial

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

Synchrony Financial Company Profile

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.