NorthCrest Asset Manangement LLC Makes New $255,000 Investment in Synchrony Financial $SYF

Key Points

• NorthCrest Asset Management LLC acquired a new stake in Synchrony Financial, purchasing 3,635 shares valued at approximately $255,000 in the 2nd quarter.
• Synchrony Financial reported $2.50 earnings per share for the last quarter, significantly beating analyst estimates of $1.72, though revenue declined 1.8% year-over-year.
• The company recently announced a quarterly dividend of $0.30 per share, representing an annualized dividend yield of 1.6% and a payout ratio of 14.56%.

NorthCrest Asset Manangement LLC purchased a new position in shares of Synchrony Financial (NYSE:SYF - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 3,635 shares of the financial services provider's stock, valued at approximately $255,000.

Other large investors have also recently added to or reduced their stakes in the company. Woodline Partners LP purchased a new stake in shares of Synchrony Financial during the 4th quarter valued at about $1,698,000. Waverly Advisors LLC acquired a new position in shares of Synchrony Financial during the fourth quarter worth $380,000. Vise Technologies Inc. boosted its stake in shares of Synchrony Financial by 128.2% in the fourth quarter. Vise Technologies Inc. now owns 12,811 shares of the financial services provider's stock valued at $833,000 after purchasing an additional 7,196 shares during the period. Public Employees Retirement System of Ohio grew its holdings in Synchrony Financial by 5.4% during the 4th quarter. Public Employees Retirement System of Ohio now owns 226,921 shares of the financial services provider's stock valued at $14,750,000 after purchasing an additional 11,525 shares in the last quarter. Finally, Toronto Dominion Bank increased its stake in Synchrony Financial by 57.9% during the 4th quarter. Toronto Dominion Bank now owns 209,123 shares of the financial services provider's stock worth $13,593,000 after buying an additional 76,723 shares during the period. 96.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Synchrony Financial news, insider Darrell Owens sold 600 shares of the company's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $67.95, for a total transaction of $40,770.00. Following the completion of the sale, the insider owned 21,372 shares in the company, valued at approximately $1,452,227.40. The trade was a 2.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Curtis Howse sold 11,380 shares of the business's stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $65.00, for a total value of $739,700.00. Following the completion of the transaction, the insider owned 108,062 shares of the company's stock, valued at $7,024,030. This represents a 9.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,494 shares of company stock valued at $1,376,450. 0.33% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on SYF shares. Bank of America upped their price objective on shares of Synchrony Financial from $75.00 to $80.00 and gave the company a "buy" rating in a research report on Thursday, September 11th. JMP Securities lifted their price objective on Synchrony Financial from $68.00 to $77.00 and gave the stock a "market outperform" rating in a report on Thursday, July 17th. Wall Street Zen upgraded Synchrony Financial from a "hold" rating to a "buy" rating in a research note on Saturday. Rothschild & Co Redburn began coverage on shares of Synchrony Financial in a report on Friday, August 1st. They issued a "neutral" rating and a $72.00 price target on the stock. Finally, Royal Bank Of Canada raised their price objective on shares of Synchrony Financial from $75.00 to $78.00 and gave the stock a "sector perform" rating in a report on Wednesday, July 23rd. Twelve research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $73.79.

Synchrony Financial Stock Performance

SYF stock traded down $0.97 during trading on Monday, reaching $75.62. 3,205,178 shares of the company's stock were exchanged, compared to its average volume of 3,073,626. The company's fifty day moving average price is $72.74 and its 200-day moving average price is $62.29. The firm has a market cap of $28.14 billion, a PE ratio of 9.18, a P/E/G ratio of 0.77 and a beta of 1.48. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.02. Synchrony Financial has a 1-year low of $40.54 and a 1-year high of $77.41.

Synchrony Financial (NYSE:SYF - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The financial services provider reported $2.50 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.78. Synchrony Financial had a return on equity of 21.34% and a net margin of 14.43%.The business had revenue of $3.65 billion during the quarter, compared to analysts' expectations of $3.71 billion. During the same quarter last year, the business posted $1.55 earnings per share. The company's quarterly revenue was down 1.8% on a year-over-year basis. Synchrony Financial has set its FY 2025 guidance at EPS. On average, research analysts expect that Synchrony Financial will post 7.67 EPS for the current fiscal year.

Synchrony Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Tuesday, August 5th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Tuesday, August 5th. Synchrony Financial's dividend payout ratio is currently 14.56%.

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.