Commerce Bank Cuts Stock Position in Synchrony Financial (NYSE:SYF)

Commerce Bank lessened its stake in shares of Synchrony Financial (NYSE:SYF) by 1.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,995 shares of the financial services provider’s stock after selling 271 shares during the quarter. Commerce Bank’s holdings in Synchrony Financial were worth $1,197,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Altshuler Shaham Ltd acquired a new position in Synchrony Financial during the second quarter worth $31,000. International Assets Investment Management LLC acquired a new position in Synchrony Financial during the second quarter worth $33,000. WR Wealth Planners LLC grew its holdings in Synchrony Financial by 83.6% during the second quarter. WR Wealth Planners LLC now owns 716 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 326 shares during the period. Ashton Thomas Private Wealth LLC acquired a new position in Synchrony Financial during the second quarter worth $39,000. Finally, Family Firm Inc. acquired a new position in Synchrony Financial during the second quarter worth $42,000. Hedge funds and other institutional investors own 96.48% of the company’s stock.

Analyst Ratings Changes

SYF has been the topic of a number of recent analyst reports. TD Cowen upped their price objective on Synchrony Financial from $60.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Jefferies Financial Group upped their target price on Synchrony Financial from $60.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Barclays upped their target price on Synchrony Financial from $49.00 to $59.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Bank of America raised Synchrony Financial from a “neutral” rating to a “buy” rating and set a $54.00 target price on the stock in a report on Friday, August 9th. Finally, Wells Fargo & Company upped their target price on Synchrony Financial from $53.00 to $60.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $57.43.

Synchrony Financial Stock Performance

NYSE SYF opened at $65.99 on Monday. The business’s 50-day moving average price is $55.81 and its 200 day moving average price is $49.78. Synchrony Financial has a twelve month low of $29.15 and a twelve month high of $67.76. The company has a market capitalization of $25.69 billion, a PE ratio of 8.61, a price-to-earnings-growth ratio of 0.90 and a beta of 1.59. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.06.

Synchrony Financial (NYSE:SYF) last released its earnings results on Wednesday, October 16th. The financial services provider reported $1.94 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $3.76 billion. During the same period in the prior year, the business posted $1.48 earnings per share. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. On average, research analysts predict that Synchrony Financial will post 6.52 earnings per share for the current year.

Synchrony Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 4th were given a dividend of $0.25 per share. The ex-dividend date was Monday, November 4th. This represents a $1.00 annualized dividend and a yield of 1.52%. Synchrony Financial’s dividend payout ratio (DPR) is presently 13.05%.

Insider Buying and Selling

In other news, insider Curtis Howse sold 21,934 shares of the firm’s 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 transaction, the insider now directly owns 99,743 shares in the company, valued at $5,498,831.59. This trade represents a 18.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jonathan S. Mothner sold 34,163 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $64.99, for a total value of $2,220,253.37. Following the completion of the transaction, the insider now owns 127,587 shares in the company, valued at approximately $8,291,879.13. This trade represents a 21.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by company insiders.

Synchrony Financial 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.