Toronto Dominion Bank Acquires 76,723 Shares of Synchrony Financial (NYSE:SYF)

Toronto Dominion Bank boosted its holdings in Synchrony Financial (NYSE:SYF - Free Report) by 57.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 209,123 shares of the financial services provider's stock after acquiring an additional 76,723 shares during the quarter. Toronto Dominion Bank owned 0.05% of Synchrony Financial worth $13,593,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Bogart Wealth LLC bought a new position in Synchrony Financial in the 4th quarter valued at about $26,000. TCTC Holdings LLC bought a new position in Synchrony Financial in the 4th quarter valued at about $27,000. Y.D. More Investments Ltd lifted its position in Synchrony Financial by 111.5% in the 4th quarter. Y.D. More Investments Ltd now owns 480 shares of the financial services provider's stock valued at $31,000 after acquiring an additional 253 shares in the last quarter. Accredited Wealth Management LLC bought a new position in Synchrony Financial in the 4th quarter valued at about $38,000. Finally, Raleigh Capital Management Inc. lifted 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 valued at $52,000 after acquiring an additional 486 shares in the last quarter. Institutional investors own 96.48% of the company's stock.

Synchrony Financial Trading Down 1.3%

Shares of SYF stock opened at $60.03 on Tuesday. The company has a 50 day moving average of $52.23 and a 200-day moving average of $60.45. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.01. Synchrony Financial has a 12-month low of $40.55 and a 12-month high of $70.93. The firm has a market cap of $22.85 billion, a P/E ratio of 7.03, a PEG ratio of 0.71 and a beta of 1.42.

Synchrony Financial (NYSE:SYF - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $1.89 earnings per share 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 business had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.80 billion. Sell-side analysts anticipate that Synchrony Financial will post 7.67 earnings per share for the current year.

Synchrony Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 5th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.00%. This is a positive change from Synchrony Financial's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, May 5th. Synchrony Financial's payout ratio is currently 16.46%.

Insider Activity at Synchrony Financial

In related news, 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 completion of the transaction, the insider now directly owns 146,628 shares in the company, valued at approximately $8,807,943.96. The trade was a 21.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.32% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

SYF has been the topic of several recent analyst reports. Royal Bank of Canada lifted their target price on shares of Synchrony Financial from $70.00 to $73.00 and gave the stock a "sector perform" rating in a research report on Wednesday, January 29th. StockNews.com cut shares of Synchrony Financial from a "buy" rating to a "hold" rating in a research report on Monday, March 24th. Bank of America lifted their target price 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. Wells Fargo & Company dropped their target price on shares of Synchrony Financial from $70.00 to $65.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. Finally, Morgan Stanley reissued an "equal weight" rating and set a $44.00 target price (down previously from $82.00) on shares of Synchrony Financial in a research report on Monday, April 7th. Nine investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Synchrony Financial currently has a consensus rating of "Moderate Buy" and a consensus price target of $63.95.

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.

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