Synchrony Financial (NYSE:SYF) Position Cut by First National Advisers LLC

Key Points

• First National Advisers LLC reduced its position in Synchrony Financial by 41.8%, now holding 34,834 shares valued at $1.84 million.
• Wall Street analysts have given Synchrony Financial a consensus rating of "Moderate Buy" with a target price of $74.17, reflecting optimistic growth expectations.
• Synchrony Financial recently announced a quarterly dividend of $0.30 per share, set to be paid on August 15th, with a current dividend yield of 1.65%.

First National Advisers LLC lessened its holdings in Synchrony Financial (NYSE:SYF - Free Report) by 41.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 34,834 shares of the financial services provider's stock after selling 25,023 shares during the quarter. First National Advisers LLC's holdings in Synchrony Financial were worth $1,844,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. CVA Family Office LLC boosted its stake in shares of Synchrony Financial by 355.9% during the 1st quarter. CVA Family Office LLC now owns 693 shares of the financial services provider's stock worth $37,000 after acquiring an additional 541 shares in the last quarter. Accredited Wealth Management LLC purchased a new stake in shares of Synchrony Financial during the 4th quarter worth approximately $38,000. Rothschild Investment LLC boosted its stake in shares of Synchrony Financial by 55.6% during the 1st quarter. Rothschild Investment LLC now owns 862 shares of the financial services provider's stock worth $46,000 after acquiring an additional 308 shares in the last quarter. Golden State Wealth Management LLC boosted its stake in shares of Synchrony Financial by 503.7% during the 1st quarter. Golden State Wealth Management LLC now owns 972 shares of the financial services provider's stock worth $51,000 after acquiring an additional 811 shares in the last quarter. Finally, Global Financial Private Client LLC boosted its stake in shares of Synchrony Financial by 1,107.4% during the 1st quarter. Global Financial Private Client LLC now owns 978 shares of the financial services provider's stock worth $52,000 after acquiring an additional 897 shares in the last quarter. Hedge funds and other institutional investors own 96.48% of the company's stock.

Insider Transactions at Synchrony Financial

In other Synchrony Financial news, insider Curtis Howse sold 11,380 shares of the firm's stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $65.00, for a total value of $739,700.00. Following the transaction, the insider owned 108,062 shares of the company's stock, valued at $7,024,030. This trade represents a 9.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jonathan S. Mothner sold 40,639 shares of Synchrony Financial stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $60.07, for a total value of $2,441,184.73. Following the sale, the insider directly owned 146,628 shares in the company, valued at approximately $8,807,943.96. This trade represents a 21.70% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.32% of the company's stock.

Analyst Upgrades and Downgrades

SYF has been the topic of a number of recent research reports. JMP Securities upped their target price on Synchrony Financial from $68.00 to $77.00 and gave the company a "market outperform" rating in a research note on Thursday, July 17th. Wells Fargo & Company upped their price objective on Synchrony Financial from $75.00 to $80.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Morgan Stanley upped their price objective on Synchrony Financial from $48.00 to $70.00 and gave the stock an "equal weight" rating in a report on Thursday, July 10th. Wall Street Zen upgraded Synchrony Financial from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Finally, BTIG Research upgraded Synchrony Financial from a "neutral" rating to a "buy" rating and set a $100.00 price objective for the company in a report on Monday, July 14th. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $74.17.

Synchrony Financial Stock Down 0.1%

Shares of SYF stock traded down $0.10 during trading hours on Thursday, hitting $70.16. 1,657,977 shares of the company were exchanged, compared to its average volume of 4,130,976. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.24 and a current ratio of 1.24. Synchrony Financial has a one year low of $40.54 and a one year high of $73.76. The business's 50-day simple moving average is $64.99 and its two-hundred day simple moving average is $60.17. The stock has a market capitalization of $26.11 billion, a price-to-earnings ratio of 8.52, a P/E/G ratio of 0.71 and a beta of 1.46.

Synchrony Financial (NYSE:SYF - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $2.50 EPS for the quarter, topping the consensus estimate of $1.72 by $0.78. Synchrony Financial had a net margin of 14.43% and a return on equity of 21.34%. The business had revenue of $3.65 billion for the quarter, compared to analysts' expectations of $3.71 billion. During the same quarter last year, the company posted $1.55 earnings per share. The company's quarterly revenue was down 1.8% compared to the same quarter last year. Sell-side analysts predict that Synchrony Financial will post 7.67 EPS for the current fiscal year.

Synchrony Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, August 5th will be issued a $0.30 dividend. The ex-dividend date is Tuesday, August 5th. This represents a $1.20 dividend on an annualized basis and a yield of 1.71%. Synchrony Financial's dividend payout ratio is currently 14.56%.

Synchrony Financial 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.