Comerica Bank Sells 18,166 Shares of Synchrony Financial (NYSE:SYF)

Comerica Bank lessened its stake in Synchrony Financial (NYSE:SYF - Free Report) by 12.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 128,896 shares of the financial services provider's stock after selling 18,166 shares during the quarter. Comerica Bank's holdings in Synchrony Financial were worth $8,378,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Bogart Wealth LLC purchased a new position in Synchrony Financial during the 4th quarter worth $26,000. TCTC Holdings LLC bought a new position in shares of Synchrony Financial during the fourth quarter valued at about $27,000. Y.D. More Investments Ltd boosted its holdings in Synchrony Financial by 111.5% during the fourth quarter. Y.D. More Investments Ltd now owns 480 shares of the financial services provider's stock worth $31,000 after purchasing an additional 253 shares during the last quarter. Raleigh Capital Management Inc. grew its position in Synchrony Financial by 151.4% in the 4th quarter. Raleigh Capital Management Inc. now owns 807 shares of the financial services provider's stock worth $52,000 after purchasing an additional 486 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in Synchrony Financial by 46.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 810 shares of the financial services provider's stock valued at $53,000 after buying an additional 257 shares during the last quarter. Hedge funds and other institutional investors own 96.48% of the company's stock.

Synchrony Financial Price Performance

Shares of NYSE:SYF opened at $54.22 on Friday. The company has a 50 day moving average of $51.81 and a 200 day moving average of $60.25. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.01. The stock has a market cap of $20.64 billion, a P/E ratio of 6.35, a P/E/G ratio of 0.71 and a beta of 1.42. Synchrony Financial has a 12 month low of $40.55 and a 12 month high of $70.93.

Synchrony Financial (NYSE:SYF - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $1.89 EPS for the quarter, beating analysts' consensus estimates of $1.63 by $0.26. Synchrony Financial had a net margin of 15.36% and a return on equity of 18.30%. The firm had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.80 billion. As a group, sell-side analysts forecast that Synchrony Financial will post 7.67 EPS for the current fiscal year.

Synchrony Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Monday, May 5th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date is Monday, May 5th. This is an increase from Synchrony Financial's previous quarterly dividend of $0.25. Synchrony Financial's dividend payout ratio (DPR) is 16.46%.

Analyst Ratings Changes

SYF has been the subject of several recent analyst reports. Morgan Stanley reaffirmed an "equal weight" rating and issued a $44.00 target price (down from $82.00) on shares of Synchrony Financial in a report on Monday, April 7th. Compass Point lowered Synchrony Financial from a "buy" rating to a "neutral" rating and set a $70.00 target price for the company. in a research report on Tuesday, January 28th. Evercore ISI lowered their target price on Synchrony Financial from $64.00 to $56.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. UBS Group increased their price target on shares of Synchrony Financial from $58.00 to $66.00 and gave the company a "neutral" rating in a research report on Monday, January 13th. Finally, Bank of America lifted their price objective on shares of Synchrony Financial from $82.00 to $85.00 and gave the stock a "buy" rating in a research report on Tuesday, January 28th. Nine research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Synchrony Financial has a consensus rating of "Moderate Buy" and an average price target of $63.95.

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.

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