Peapack Gladstone Financial Corp Sells 2,640 Shares of Synchrony Financial (NYSE:SYF)

Peapack Gladstone Financial Corp reduced its stake in shares of Synchrony Financial (NYSE:SYFFree Report) by 16.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 13,440 shares of the financial services provider’s stock after selling 2,640 shares during the period. Peapack Gladstone Financial Corp’s holdings in Synchrony Financial were worth $513,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Massmutual Trust Co. FSB ADV boosted its position in shares of Synchrony Financial by 44.1% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,274 shares of the financial services provider’s stock worth $49,000 after buying an additional 390 shares during the period. Wetzel Investment Advisors Inc. acquired a new position in Synchrony Financial during the 4th quarter worth approximately $55,000. Brown Brothers Harriman & Co. grew its stake in shares of Synchrony Financial by 56.6% during the 4th quarter. Brown Brothers Harriman & Co. now owns 1,445 shares of the financial services provider’s stock worth $55,000 after acquiring an additional 522 shares in the last quarter. Principal Securities Inc. acquired a new stake in shares of Synchrony Financial in the fourth quarter valued at approximately $60,000. Finally, Systematic Alpha Investments LLC acquired a new position in Synchrony Financial during the third quarter worth $100,000. Institutional investors own 96.48% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. StockNews.com upgraded shares of Synchrony Financial from a “hold” rating to a “buy” rating in a research note on Thursday, April 25th. Wells Fargo & Company lifted their target price on Synchrony Financial from $38.00 to $45.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 10th. Evercore ISI upped their target price on Synchrony Financial from $45.00 to $47.00 and gave the stock an “outperform” rating in a report on Thursday, March 28th. BMO Capital Markets raised their price target on Synchrony Financial from $40.00 to $41.00 and gave the company a “market perform” rating in a research note on Thursday, April 25th. Finally, Morgan Stanley reaffirmed an “underweight” rating and set a $30.00 price target on shares of Synchrony Financial in a research report on Thursday, February 8th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, Synchrony Financial currently has an average rating of “Hold” and an average target price of $43.74.

Check Out Our Latest Analysis on SYF

Synchrony Financial Price Performance

Shares of NYSE SYF opened at $43.06 on Friday. The firm has a market cap of $17.29 billion, a P/E ratio of 6.18, a price-to-earnings-growth ratio of 0.99 and a beta of 1.60. The business’s 50 day moving average is $43.20 and its 200-day moving average is $39.90. The company has a current ratio of 1.24, a quick ratio of 1.23 and a debt-to-equity ratio of 1.15. Synchrony Financial has a 1-year low of $27.30 and a 1-year high of $46.72.

Synchrony Financial (NYSE:SYFGet Free Report) last issued its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.19). Synchrony Financial had a net margin of 13.49% and a return on equity of 16.01%. The firm had revenue of $5.57 billion during the quarter, compared to analyst estimates of $4.44 billion. During the same period in the prior year, the company earned $1.35 earnings per share. Equities research analysts predict that Synchrony Financial will post 5.75 earnings per share for the current year.

Synchrony Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Monday, May 6th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.32%. The ex-dividend date of this dividend was Friday, May 3rd. Synchrony Financial’s dividend payout ratio (DPR) is 14.35%.

Synchrony Financial declared that its board has approved a stock repurchase plan on Wednesday, April 24th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to purchase up to 5.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at Synchrony Financial

In other news, insider Curtis Howse sold 31,562 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $45.00, for a total transaction of $1,420,290.00. Following the transaction, the insider now directly owns 121,042 shares of the company’s stock, valued at $5,446,890. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.33% of the company’s stock.

Synchrony Financial Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Synchrony Financial (NYSE:SYF)

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