Cambria Investment Management L.P. Reduces Holdings in Synchrony Financial (NYSE:SYF)

Cambria Investment Management L.P. reduced its holdings in shares of Synchrony Financial (NYSE:SYF) by 3.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 153,512 shares of the financial services provider’s stock after selling 4,952 shares during the quarter. Cambria Investment Management L.P.’s holdings in Synchrony Financial were worth $5,207,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Impax Asset Management Group plc acquired a new stake in shares of Synchrony Financial in the first quarter worth approximately $380,000. Commerce Bank lifted its position in Synchrony Financial by 7.6% during the first quarter. Commerce Bank now owns 17,510 shares of the financial services provider’s stock valued at $509,000 after buying an additional 1,230 shares in the last quarter. Jump Financial LLC lifted its position in Synchrony Financial by 124.5% during the first quarter. Jump Financial LLC now owns 53,202 shares of the financial services provider’s stock valued at $1,547,000 after buying an additional 29,499 shares in the last quarter. Acadian Asset Management LLC lifted its position in Synchrony Financial by 251.6% during the first quarter. Acadian Asset Management LLC now owns 146,784 shares of the financial services provider’s stock valued at $4,267,000 after buying an additional 105,033 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its position in Synchrony Financial by 155.4% during the second quarter. Oregon Public Employees Retirement Fund now owns 86,589 shares of the financial services provider’s stock valued at $2,937,000 after buying an additional 52,685 shares in the last quarter. 94.72% of the stock is currently owned by hedge funds and other institutional investors.

Synchrony Financial Price Performance

SYF stock opened at $29.76 on Thursday. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 1.17. Synchrony Financial has a one year low of $26.59 and a one year high of $37.99. The firm has a market capitalization of $12.31 billion, a PE ratio of 5.50, a P/E/G ratio of 1.29 and a beta of 1.61. The firm has a 50-day moving average of $29.95 and a two-hundred day moving average of $31.61.

Synchrony Financial (NYSE:SYF) last posted its quarterly earnings data on Tuesday, October 24th. The financial services provider reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.05. The company had revenue of $5.45 billion during the quarter, compared to analyst estimates of $4.29 billion. Synchrony Financial had a net margin of 11.79% and a return on equity of 18.82%. During the same period in the prior year, the firm earned $1.47 earnings per share. On average, analysts forecast that Synchrony Financial will post 5.15 earnings per share for the current year.

Synchrony Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 9th. Shareholders of record on Wednesday, November 1st were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, October 31st. This represents a $1.00 annualized dividend and a yield of 3.36%. Synchrony Financial’s dividend payout ratio (DPR) is presently 18.48%.

Wall Street Analyst Weigh In

SYF has been the topic of a number of recent research reports. Morgan Stanley reduced their price target on shares of Synchrony Financial from $28.00 to $27.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 25th. Barclays started coverage on shares of Synchrony Financial in a research note on Wednesday. They set an “equal weight” rating and a $31.00 price objective on the stock. TD Cowen started coverage on shares of Synchrony Financial in a research note on Wednesday, November 1st. They set an “outperform” rating and a $34.00 price objective on the stock. The Goldman Sachs Group dropped their price objective on shares of Synchrony Financial from $40.00 to $37.00 in a research note on Monday, October 2nd. Finally, Citigroup dropped their price objective on shares of Synchrony Financial from $43.00 to $40.00 and set a “buy” rating on the stock in a research note on Friday, October 6th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Synchrony Financial has an average rating of “Hold” and an average target price of $35.76.

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 cards, 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 to retail and commercial customers, as well as accepts deposits through third-party securities brokerage firms.