Wedbush Securities Inc. Raises Stock Holdings in Synchrony Financial (NYSE:SYF)

Wedbush Securities Inc. boosted its holdings in shares of Synchrony Financial (NYSE:SYF) by 11.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,122 shares of the financial services provider’s stock after purchasing an additional 1,496 shares during the quarter. Wedbush Securities Inc.’s holdings in Synchrony Financial were worth $524,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of SYF. Advantage Investment Management LLC boosted its position in Synchrony Financial by 455.2% during the second quarter. Advantage Investment Management LLC now owns 1,388 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 1,138 shares in the last quarter. Clarus Wealth Advisors boosted its position in Synchrony Financial by 677.8% during the second quarter. Clarus Wealth Advisors now owns 1,400 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 1,220 shares in the last quarter. Parallel Advisors LLC boosted its position 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 worth $60,000 after purchasing an additional 1,252 shares in the last quarter. Parkside Financial Bank & Trust boosted its position in Synchrony Financial by 40.3% during the first quarter. Parkside Financial Bank & Trust now owns 2,016 shares of the financial services provider’s stock worth $64,000 after purchasing an additional 579 shares in the last quarter. Finally, Cornerstone Advisors Inc. boosted its position in Synchrony Financial by 482.7% during the first quarter. Cornerstone Advisors Inc. now owns 2,016 shares of the financial services provider’s stock worth $64,000 after purchasing an additional 1,670 shares in the last quarter. Institutional investors own 88.53% of the company’s stock.

In related news, insider Margaret M. Keane sold 125,000 shares of Synchrony Financial stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $33.82, for a total transaction of $4,227,500.00. Following the transaction, the insider now owns 648,901 shares in the company, valued at $21,945,831.82. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider David P. Melito sold 3,204 shares of Synchrony Financial stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $36.00, for a total value of $115,344.00. Following the transaction, the insider now owns 23,567 shares in the company, valued at approximately $848,412. The disclosure for this sale can be found here. Company insiders own 0.32% of the company’s stock.



A number of brokerages have issued reports on SYF. Royal Bank of Canada reiterated an “outperform” rating and set a $39.00 price target on shares of Synchrony Financial in a research report on Friday, May 3rd. ValuEngine downgraded Synchrony Financial from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. BTIG Research reiterated a “buy” rating and set a $42.00 price target on shares of Synchrony Financial in a research report on Monday, July 22nd. Buckingham Research started coverage on Synchrony Financial in a research report on Monday, July 22nd. They set a “buy” rating and a $42.00 price target on the stock. Finally, Morgan Stanley raised their target price on Synchrony Financial from $31.00 to $34.00 and gave the company an “equal weight” rating in a research report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the stock. Synchrony Financial has an average rating of “Buy” and a consensus price target of $38.43.

Shares of NYSE SYF traded up $0.52 during midday trading on Friday, hitting $33.28. The stock had a trading volume of 74,457 shares, compared to its average volume of 4,360,244. The company has a market capitalization of $23.01 billion, a PE ratio of 8.89, a P/E/G ratio of 0.80 and a beta of 1.19. The stock has a 50 day simple moving average of $35.36 and a 200-day simple moving average of $33.58. Synchrony Financial has a 1 year low of $21.77 and a 1 year high of $36.87. The company has a quick ratio of 1.25, a current ratio of 1.36 and a debt-to-equity ratio of 1.44.

Synchrony Financial (NYSE:SYF) last released its earnings results on Friday, July 19th. The financial services provider reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.01. The business had revenue of $4.16 billion for the quarter, compared to the consensus estimate of $4.19 billion. Synchrony Financial had a return on equity of 19.50% and a net margin of 17.82%. During the same quarter last year, the business posted $0.92 earnings per share. As a group, analysts expect that Synchrony Financial will post 4.21 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 5th were given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.64%. The ex-dividend date was Friday, August 2nd. This is an increase from Synchrony Financial’s previous quarterly dividend of $0.21. Synchrony Financial’s dividend payout ratio (DPR) is 23.53%.

Synchrony Financial Profile

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

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