Canandaigua National Bank & Trust Co. Has $543,000 Stock Position in Synchrony Financial (NYSE:SYF)

Canandaigua National Bank & Trust Co. cut its holdings in Synchrony Financial (NYSE:SYF) by 1.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,349 shares of the financial services provider’s stock after selling 161 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in Synchrony Financial were worth $543,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of SYF. Graypoint LLC lifted its position in shares of Synchrony Financial by 4.0% during the 3rd quarter. Graypoint LLC now owns 4,668 shares of the financial services provider’s stock valued at $233,000 after acquiring an additional 181 shares during the period. Empirical Finance LLC increased its stake in Synchrony Financial by 1.3% in the third quarter. Empirical Finance LLC now owns 15,499 shares of the financial services provider’s stock valued at $773,000 after purchasing an additional 204 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Synchrony Financial by 1.1% during 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 boosted its position in shares of Synchrony Financial by 3.3% during the 3rd 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 in the last quarter. Finally, 1832 Asset Management L.P. boosted its position 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 purchasing an additional 251 shares in the last quarter. 96.48% of the stock is currently owned by institutional investors.

Synchrony Financial Stock Performance

NYSE:SYF opened at $67.59 on Tuesday. Synchrony Financial has a 1 year low of $35.29 and a 1 year high of $69.39. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.25 and a quick ratio of 1.25. The business has a fifty day simple moving average of $64.93 and a two-hundred day simple moving average of $54.80. The company has a market capitalization of $26.32 billion, a P/E ratio of 8.82, a P/E/G ratio of 0.82 and a beta of 1.64.

Synchrony Financial (NYSE:SYF) last announced its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.77 by $0.17. The business had revenue of $3.81 billion for the quarter, compared to analysts’ expectations of $3.76 billion. Synchrony Financial had a return on equity of 16.64% and a net margin of 13.98%. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.48 EPS. On average, analysts expect that Synchrony Financial will post 6.51 earnings per share for the current year.

Synchrony Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 4th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.48%. The ex-dividend date of this dividend was Monday, November 4th. Synchrony Financial’s dividend payout ratio (DPR) is presently 13.05%.

Insider Activity at Synchrony Financial

In related news, insider Curtis Howse sold 21,934 shares of the business’s 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 completion of the transaction, the insider now owns 99,743 shares of the company’s stock, valued at approximately $5,498,831.59. The trade was a 18.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jonathan S. Mothner sold 34,163 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $64.99, for a total transaction of $2,220,253.37. Following the completion of the sale, the insider now owns 127,587 shares in the company, valued at $8,291,879.13. This 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 owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on SYF shares. TD Cowen upped their price target on Synchrony Financial from $60.00 to $62.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Robert W. Baird set a $62.00 target price on Synchrony Financial in a research report on Thursday, October 17th. Morgan Stanley raised shares of Synchrony Financial from an “underweight” rating to an “overweight” rating and lifted their price target for the company from $40.00 to $82.00 in a research report on Thursday, December 19th. Jefferies Financial Group upped their price objective on shares of Synchrony Financial from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Finally, Barclays raised shares of Synchrony Financial from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $59.00 to $79.00 in a research note on Monday. Five analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $64.63.

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.