Zurcher Kantonalbank Zurich Cantonalbank Buys 3,100 Shares of Synchrony Financial (NYSE:SYF)

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Synchrony Financial (NYSE:SYF) by 0.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 494,595 shares of the financial services provider’s stock after purchasing an additional 3,100 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned 0.12% of Synchrony Financial worth $18,889,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. BlackRock Inc. raised its position in Synchrony Financial by 0.9% during the 1st quarter. BlackRock Inc. now owns 41,115,547 shares of the financial services provider’s stock worth $1,195,640,000 after purchasing an additional 361,844 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Synchrony Financial by 6.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 8,123,671 shares of the financial services provider’s stock worth $282,786,000 after purchasing an additional 484,220 shares during the last quarter. First Trust Advisors LP raised its position in shares of Synchrony Financial by 14.9% in the 1st quarter. First Trust Advisors LP now owns 6,791,030 shares of the financial services provider’s stock worth $197,483,000 after acquiring an additional 879,797 shares in the last quarter. Invesco Ltd. raised its position in shares of Synchrony Financial by 16.0% in the 3rd quarter. Invesco Ltd. now owns 5,468,996 shares of the financial services provider’s stock worth $167,187,000 after acquiring an additional 755,856 shares in the last quarter. Finally, Northern Trust Corp raised its position in shares of Synchrony Financial by 3.7% in the 3rd quarter. Northern Trust Corp now owns 4,973,509 shares of the financial services provider’s stock worth $152,040,000 after acquiring an additional 178,344 shares in the last quarter. 96.48% of the stock is owned by institutional investors.

Insider Transactions at Synchrony Financial

In related news, insider David P. Melito sold 7,283 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $38.99, for a total transaction of $283,964.17. Following the completion of the sale, the insider now directly owns 14,183 shares of the company’s stock, valued at $552,995.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Synchrony Financial news, insider David P. Melito sold 7,283 shares of the business’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $38.99, for a total value of $283,964.17. Following the transaction, the insider now owns 14,183 shares of the company’s stock, valued at $552,995.17. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Brian D. Doubles sold 134,696 shares of the firm’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $41.26, for a total value of $5,557,556.96. Following the sale, the insider now directly owns 660,353 shares of the company’s stock, valued at $27,246,164.78. The disclosure for this sale can be found here. Insiders have sold 148,158 shares of company stock worth $6,106,106 in the last 90 days. Insiders own 0.65% of the company’s stock.

Wall Street Analyst Weigh In

SYF has been the subject of several research analyst reports. JPMorgan Chase & Co. lifted their price objective on Synchrony Financial from $39.00 to $42.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 3rd. Oppenheimer reissued a “market perform” rating on shares of Synchrony Financial in a research report on Wednesday, March 6th. Morgan Stanley reissued an “underweight” rating and issued a $30.00 price objective on shares of Synchrony Financial in a research report on Thursday, February 8th. Barclays lifted their price objective on Synchrony Financial from $36.00 to $37.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. Finally, Bank of America lifted their price objective on Synchrony Financial from $41.00 to $43.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 6th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Synchrony Financial currently has a consensus rating of “Hold” and a consensus price target of $41.44.

Synchrony Financial Price Performance

SYF stock opened at $40.80 on Friday. The company has a market capitalization of $16.60 billion, a P/E ratio of 7.88, a price-to-earnings-growth ratio of 0.99 and a beta of 1.61. The company has a debt-to-equity ratio of 1.21, a quick ratio of 1.22 and a current ratio of 1.22. Synchrony Financial has a 52-week low of $26.59 and a 52-week high of $43.83. The business has a 50-day simple moving average of $41.16 and a two-hundred day simple moving average of $36.27.

Synchrony Financial (NYSE:SYF) last released its quarterly earnings results on Tuesday, January 23rd. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.10. The business had revenue of $5.55 billion during the quarter, compared to the consensus estimate of $4.45 billion. Synchrony Financial had a return on equity of 17.37% and a net margin of 10.68%. During the same quarter in the previous year, the business earned $1.26 EPS. Research analysts expect that Synchrony Financial will post 5.54 EPS for the current fiscal year.

Synchrony Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Monday, February 5th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, February 2nd. This represents a $1.00 dividend on an annualized basis and a yield of 2.45%. Synchrony Financial’s dividend payout ratio (DPR) is currently 19.31%.

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.