BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of Synchrony Financial (NYSE:SYF) by 36.4% in the 1st quarter, HoldingsChannel reports. The firm owned 241,684 shares of the financial services provider’s stock after acquiring an additional 64,456 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Synchrony Financial were worth $7,710,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in SYF. Enlightenment Research LLC purchased a new stake in shares of Synchrony Financial during the fourth quarter worth about $28,000. JOYN Advisors Inc. boosted its stake in Synchrony Financial by 33.7% during the fourth quarter. JOYN Advisors Inc. now owns 1,349 shares of the financial services provider’s stock valued at $32,000 after buying an additional 340 shares during the last quarter. Taylor Hoffman Wealth Management bought a new position in Synchrony Financial during the fourth quarter valued at approximately $39,000. Huntington National Bank boosted its stake in Synchrony Financial by 47.6% during the fourth quarter. Huntington National Bank now owns 1,908 shares of the financial services provider’s stock valued at $45,000 after buying an additional 615 shares during the last quarter. Finally, Parallel Advisors LLC boosted its stake in Synchrony Financial by 195.0% during the first quarter. Parallel Advisors LLC now owns 1,894 shares of the financial services provider’s stock valued at $60,000 after buying an additional 1,252 shares during the last quarter. Hedge funds and other institutional investors own 86.71% of the company’s stock.
SYF has been the subject of a number of research reports. Zacks Investment Research raised Synchrony Financial from a “hold” rating to a “buy” rating and set a $34.00 price target for the company in a research note on Friday, February 8th. ValuEngine raised Synchrony Financial from a “sell” rating to a “hold” rating in a research note on Thursday, March 14th. Royal Bank of Canada reissued an “outperform” rating and set a $39.00 price target on shares of Synchrony Financial in a research note on Friday, May 3rd. Bank of America raised Synchrony Financial from a “neutral” rating to a “buy” rating and set a $37.00 price target for the company in a research note on Wednesday, January 30th. Finally, Stephens reissued a “hold” rating and set a $34.00 price target on shares of Synchrony Financial in a research note on Sunday, January 27th. Eight research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $37.47.
NYSE:SYF opened at $34.81 on Friday. The company has a market capitalization of $24.23 billion, a PE ratio of 9.31, a P/E/G ratio of 1.07 and a beta of 1.30. Synchrony Financial has a 1 year low of $21.77 and a 1 year high of $36.08. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.39 and a quick ratio of 1.27.
Synchrony Financial (NYSE:SYF) last posted its quarterly earnings data on Thursday, April 18th. The financial services provider reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.12. The business had revenue of $4.23 billion during the quarter, compared to analyst estimates of $4.29 billion. Synchrony Financial had a return on equity of 19.79% and a net margin of 17.52%. During the same period last year, the company earned $0.83 EPS. Research analysts expect that Synchrony Financial will post 4.28 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Monday, May 6th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 2.41%. The ex-dividend date of this dividend was Friday, May 3rd. Synchrony Financial’s payout ratio is 22.46%.
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About Synchrony Financial
Synchrony Financial operates as a consumer financial services company in the United States. The company offers private label credit cards, dual cards, general purpose co-branded credit cards, and small and medium-sized business credit products; and promotional financing for consumer purchases, such as private label credit cards and installment loans.
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