Synchrony Financial (NYSE:SYF) Shares Purchased by M&T Bank Corp

M&T Bank Corp boosted its stake in shares of Synchrony Financial (NYSE:SYF) by 2.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,721 shares of the financial services provider’s stock after acquiring an additional 490 shares during the quarter. M&T Bank Corp’s holdings in Synchrony Financial were worth $991,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. TCTC Holdings LLC purchased a new position in shares of Synchrony Financial during the 4th quarter valued at approximately $27,000. CVA Family Office LLC grew its position in Synchrony Financial by 355.9% during the first quarter. CVA Family Office LLC now owns 693 shares of the financial services provider’s stock valued at $37,000 after buying an additional 541 shares during the period. Accredited Wealth Management LLC purchased a new position in Synchrony Financial in the fourth quarter valued at $38,000. Rothschild Investment LLC raised its position in shares of Synchrony Financial by 55.6% in the first quarter. Rothschild Investment LLC now owns 862 shares of the financial services provider’s stock worth $46,000 after acquiring an additional 308 shares during the period. Finally, Golden State Wealth Management LLC boosted its stake in shares of Synchrony Financial by 503.7% during the 1st quarter. Golden State Wealth Management LLC now owns 972 shares of the financial services provider’s stock worth $51,000 after acquiring an additional 811 shares in the last quarter. 96.48% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Jonathan S. Mothner sold 40,639 shares of the company’s stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $60.07, for a total value of $2,441,184.73. Following the transaction, the insider directly owned 146,628 shares in the company, valued at approximately $8,807,943.96. This represents a 21.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Curtis Howse sold 11,380 shares of the stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $65.00, for a total value of $739,700.00. Following the completion of the transaction, the insider owned 108,062 shares of the company’s stock, valued at $7,024,030. The trade was a 9.53% 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 Trading Up 0.5%

Shares of Synchrony Financial stock opened at $70.93 on Tuesday. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.25 and a quick ratio of 1.25. The stock’s 50 day simple moving average is $61.99 and its 200-day simple moving average is $59.66. The stock has a market cap of $27.00 billion, a P/E ratio of 9.73, a P/E/G ratio of 0.73 and a beta of 1.46. Synchrony Financial has a 1-year low of $40.55 and a 1-year high of $71.88.

Synchrony Financial (NYSE:SYF) last released its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.63 by $0.26. Synchrony Financial had a return on equity of 19.68% and a net margin of 13.00%. The company had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.80 billion. Analysts predict that Synchrony Financial will post 7.67 EPS for the current fiscal year.

Synchrony Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 5th were issued a $0.30 dividend. The ex-dividend date was Monday, May 5th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.69%. This is a positive change from Synchrony Financial’s previous quarterly dividend of $0.25. Synchrony Financial’s dividend payout ratio is currently 16.46%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on SYF shares. Morgan Stanley lifted their price target on Synchrony Financial from $48.00 to $70.00 and gave the company an “equal weight” rating in a research note on Thursday, July 10th. BTIG Research raised Synchrony Financial from a “neutral” rating to a “buy” rating and set a $100.00 target price for the company in a research note on Monday. Cfra Research raised shares of Synchrony Financial to a “hold” rating in a research note on Tuesday, April 22nd. Evercore ISI reduced their price objective on shares of Synchrony Financial from $64.00 to $56.00 and set an “outperform” rating for the company in a research report on Wednesday, April 23rd. Finally, Truist Financial increased their price objective on shares of Synchrony Financial from $63.00 to $68.00 and gave the company a “hold” rating in a report on Friday, June 13th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $70.63.

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.