Amalgamated Bank Has $3.88 Million Stake in Synchrony Financial (NYSE:SYF)

Amalgamated Bank reduced its position in shares of Synchrony Financial (NYSE:SYF) by 40.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 77,847 shares of the financial services provider’s stock after selling 52,564 shares during the period. Amalgamated Bank’s holdings in Synchrony Financial were worth $3,883,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of SYF. Wealth Enhancement Advisory Services LLC boosted its position in Synchrony Financial by 1.1% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 19,995 shares of the financial services provider’s stock worth $997,000 after acquiring an additional 227 shares during the last quarter. Wedmont Private Capital boosted its holdings in Synchrony Financial by 3.3% during the third quarter. Wedmont Private Capital now owns 7,508 shares of the financial services provider’s stock worth $387,000 after purchasing an additional 242 shares during the last quarter. 1832 Asset Management L.P. grew its position in Synchrony Financial by 0.5% in the second quarter. 1832 Asset Management L.P. now owns 52,242 shares of the financial services provider’s stock valued at $2,465,000 after purchasing an additional 251 shares in the last quarter. Signaturefd LLC increased its stake in Synchrony Financial by 2.7% in 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 during the last quarter. Finally, Certuity LLC lifted its position in Synchrony Financial by 0.8% during the 2nd quarter. Certuity LLC now owns 31,326 shares of the financial services provider’s stock worth $1,478,000 after buying an additional 264 shares in the last quarter. 96.48% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Synchrony Financial news, insider Curtis Howse sold 21,934 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $55.13, for a total value of $1,209,221.42. Following the completion of the transaction, the insider now directly owns 99,743 shares in the company, valued at approximately $5,498,831.59. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Curtis Howse sold 21,934 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now owns 99,743 shares of the company’s stock, valued at approximately $5,498,831.59. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brian J. Sr. Wenzel sold 74,698 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $46.73, for a total transaction of $3,490,637.54. Following the completion of the sale, the insider now directly owns 76,251 shares in the company, valued at approximately $3,563,209.23. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by corporate insiders.

Synchrony Financial Stock Performance

NYSE:SYF opened at $63.79 on Friday. Synchrony Financial has a twelve month low of $28.84 and a twelve month high of $67.76. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.06. The stock’s 50-day simple moving average is $52.41 and its 200 day simple moving average is $48.31. The firm has a market capitalization of $24.84 billion, a PE ratio of 8.33, a price-to-earnings-growth ratio of 1.31 and a beta of 1.59.

Synchrony Financial (NYSE:SYF) last posted its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.94 earnings per share for the quarter, beating analysts’ consensus estimates of $1.77 by $0.17. The company had revenue of $3.81 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period last year, the company posted $1.48 EPS. On average, analysts anticipate that Synchrony Financial will post 6.42 EPS for the current fiscal year.

Synchrony Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Monday, November 4th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend is Monday, November 4th. Synchrony Financial’s payout ratio is 13.05%.

Analyst Upgrades and Downgrades

SYF has been the subject of several analyst reports. Compass Point raised their price objective on Synchrony Financial from $56.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. JMP Securities restated a “market outperform” rating and issued a $60.00 price target on shares of Synchrony Financial in a research note on Monday, October 14th. Royal Bank of Canada upped their target price on shares of Synchrony Financial from $55.00 to $62.00 and gave the company a “sector perform” rating in a report on Thursday, October 17th. Bank of America raised shares of Synchrony Financial from a “neutral” rating to a “buy” rating and set a $54.00 price objective for the company in a research report on Friday, August 9th. Finally, Jefferies Financial Group boosted their price objective on Synchrony Financial from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $56.60.

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.