Argent Trust Co Purchases New Shares in Synchrony Financial (NYSE:SYF)

Argent Trust Co acquired a new position in shares of Synchrony Financial (NYSE:SYF – Get Rating) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 6,997 shares of the financial services provider’s stock, valued at approximately $230,000.

Other institutional investors have also recently bought and sold shares of the company. Envestnet Asset Management Inc. raised its stake in shares of Synchrony Financial by 6.9% during the 4th quarter. Envestnet Asset Management Inc. now owns 211,497 shares of the financial services provider’s stock worth $6,950,000 after purchasing an additional 13,571 shares in the last quarter. Brinker Capital Investments LLC raised its stake in shares of Synchrony Financial by 9.3% in the 4th quarter. Brinker Capital Investments LLC now owns 44,060 shares of the financial services provider’s stock valued at $1,448,000 after acquiring an additional 3,747 shares in the last quarter. Janney Montgomery Scott LLC bought a new position in shares of Synchrony Financial in the 4th quarter valued at approximately $241,000. Toronto Dominion Bank raised its stake in shares of Synchrony Financial by 18.6% in the 4th quarter. Toronto Dominion Bank now owns 256,621 shares of the financial services provider’s stock valued at $8,428,000 after acquiring an additional 40,313 shares in the last quarter. Finally, Greenleaf Trust raised its stake in shares of Synchrony Financial by 15.2% in the 3rd quarter. Greenleaf Trust now owns 10,096 shares of the financial services provider’s stock valued at $285,000 after acquiring an additional 1,329 shares in the last quarter. 95.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have commented on SYF shares. Keefe, Bruyette & Woods downgraded Synchrony Financial from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $46.00 to $32.00 in a research report on Thursday, March 16th. Morgan Stanley dropped their price target on Synchrony Financial from $31.00 to $26.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 5th. JPMorgan Chase & Co. dropped their price target on Synchrony Financial from $37.00 to $30.00 and set a “neutral” rating on the stock in a research report on Monday, April 17th. Wells Fargo & Company decreased their price objective on Synchrony Financial from $37.00 to $31.00 and set an “equal weight” rating on the stock in a report on Friday, March 31st. Finally, The Goldman Sachs Group decreased their price objective on Synchrony Financial from $41.00 to $35.00 and set a “buy” rating on the stock in a report on Wednesday, April 5th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $37.53.

Synchrony Financial Stock Performance

SYF opened at $30.00 on Friday. Synchrony Financial has a 52-week low of $26.59 and a 52-week high of $40.88. The firm has a market capitalization of $12.86 billion, a PE ratio of 5.28, a PEG ratio of 1.42 and a beta of 1.58. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.22 and a current ratio of 1.22. The business’s 50-day simple moving average is $28.88 and its 200 day simple moving average is $32.77.

Synchrony Financial (NYSE:SYF – Get Rating) last released its quarterly earnings data on Wednesday, April 19th. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.02). The business had revenue of $4.79 billion during the quarter, compared to the consensus estimate of $4.02 billion. Synchrony Financial had a net margin of 14.93% and a return on equity of 21.68%. During the same quarter in the prior year, the company earned $1.73 EPS. As a group, sell-side analysts expect that Synchrony Financial will post 4.89 earnings per share for the current fiscal year.

Synchrony Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 12th. Investors of record on Tuesday, May 2nd were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date of this dividend was Monday, May 1st. Synchrony Financial’s dividend payout ratio is currently 16.20%.

Synchrony Financial declared that its board has initiated a share repurchase plan on Tuesday, April 25th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the financial services provider to buy up to 8% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other Synchrony Financial news, insider Alberto Casellas sold 39,460 shares of the firm’s stock in a transaction on Monday, February 27th. The stock was sold at an average price of $36.14, for a total value of $1,426,084.40. Following the sale, the insider now owns 70,040 shares of the company’s stock, valued at approximately $2,531,245.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Alberto Casellas sold 39,460 shares of the firm’s stock in a transaction on Monday, February 27th. The stock was sold at an average price of $36.14, for a total transaction of $1,426,084.40. Following the sale, the insider now owns 70,040 shares of the company’s stock, valued at approximately $2,531,245.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Bart Schaller sold 11,071 shares of the firm’s stock in a transaction on Friday, March 3rd. The stock was sold at an average price of $36.25, for a total value of $401,323.75. Following the transaction, the insider now directly owns 71,664 shares of the company’s stock, valued at $2,597,820. The disclosure for this sale can be found here. 0.65% of the stock is currently owned by company insiders.

Synchrony Financial Company Profile

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Synchrony Financial engages in the provision of consumer financial services. The firm is also involved in managing credit products through the following sales platforms: Home and Auto, Digital, Diversified and Value, Health and Wellness, and Lifestyle. The company was founded on September 12, 2003 and is headquartered in Stamford, CT.