Cibc World Market Inc. Trims Holdings in Synchrony Financial $SYF

Cibc World Market Inc. lessened its holdings in shares of Synchrony Financial (NYSE:SYF - Free Report) by 37.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 50,570 shares of the financial services provider's stock after selling 30,420 shares during the period. Cibc World Market Inc.'s holdings in Synchrony Financial were worth $4,219,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Fideuram Asset Management Ireland dac purchased a new position in Synchrony Financial during the 4th quarter valued at about $29,000. FWL Investment Management LLC purchased a new position in Synchrony Financial during the 3rd quarter valued at about $26,000. Palisade Asset Management LLC purchased a new position in Synchrony Financial during the 3rd quarter valued at about $29,000. Colonial Trust Co SC grew its holdings in shares of Synchrony Financial by 40.2% during the 3rd quarter. Colonial Trust Co SC now owns 474 shares of the financial services provider's stock worth $34,000 after acquiring an additional 136 shares during the period. Finally, CoreCap Advisors LLC grew its holdings in shares of Synchrony Financial by 34.4% during the 4th quarter. CoreCap Advisors LLC now owns 543 shares of the financial services provider's stock worth $45,000 after acquiring an additional 139 shares during the period. Hedge funds and other institutional investors own 96.48% of the company's stock.

Wall Street Analysts Forecast Growth

SYF has been the topic of a number of research analyst reports. Wells Fargo & Company reduced their target price on Synchrony Financial from $100.00 to $95.00 and set an "overweight" rating on the stock in a report on Thursday, April 9th. JPMorgan Chase & Co. reduced their target price on Synchrony Financial from $84.00 to $73.00 and set a "neutral" rating on the stock in a report on Thursday, April 9th. BTIG Research downgraded Synchrony Financial from a "buy" rating to a "neutral" rating in a report on Wednesday, April 22nd. Barclays upped their target price on Synchrony Financial from $82.00 to $93.00 and gave the stock an "overweight" rating in a report on Wednesday, April 22nd. Finally, Truist Financial upped their target price on Synchrony Financial from $71.00 to $82.00 and gave the stock a "hold" rating in a report on Thursday, April 23rd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $86.05.

Insider Transactions at Synchrony Financial

In related news, insider Jonathan S. Mothner sold 51,258 shares of the company's stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $71.23, for a total value of $3,651,107.34. Following the transaction, the insider directly owned 132,664 shares of the company's stock, valued at approximately $9,449,656.72. This represents a 27.87% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.36% of the company's stock.

Synchrony Financial Stock Performance

SYF stock opened at $70.85 on Monday. The stock has a market capitalization of $23.83 billion, a PE ratio of 7.33, a price-to-earnings-growth ratio of 0.62 and a beta of 1.33. Synchrony Financial has a 12-month low of $58.31 and a 12-month high of $88.77. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.08. The stock's 50 day simple moving average is $72.31 and its 200 day simple moving average is $74.65.

Synchrony Financial (NYSE:SYF - Get Free Report) last released its quarterly earnings data on Tuesday, April 21st. The financial services provider reported $2.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.14 by $0.13. The business had revenue of $3.70 billion for the quarter, compared to analysts' expectations of $3.81 billion. Synchrony Financial had a return on equity of 23.41% and a net margin of 15.80%.The firm's quarterly revenue was down 7.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.89 EPS. Synchrony Financial has set its FY 2026 guidance at 9.100-9.500 EPS. As a group, research analysts forecast that Synchrony Financial will post 9.29 earnings per share for the current fiscal year.

Synchrony Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Tuesday, May 5th were given a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, May 5th. This represents a $1.20 annualized dividend and a yield of 1.7%. Synchrony Financial's dividend payout ratio is 12.41%.

Synchrony Financial declared that its board has initiated a stock repurchase plan on Tuesday, April 21st that allows the company to repurchase $0.00 in outstanding shares. This repurchase authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company's management believes its stock is undervalued.

Synchrony Financial Company Profile

Synchrony Financial NYSE: SYF is a consumer financial services company that specializes in providing point-of-sale financing and private-label, co-branded and branded credit card programs. The company serves as a payments and lending partner to retailers, digital merchants and service providers, offering consumer financing solutions designed to drive customer engagement and sales. Synchrony also operates a direct bank that offers deposit products, including savings accounts and certificates of deposit, which support its funding and customer-facing product suite.

Its core product set includes private-label and co-branded credit cards, general-purpose credit cards, installment loan programs and promotional financing options that are integrated into merchants' checkout experiences.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.