Zurcher Kantonalbank Zurich Cantonalbank Boosts Position in Synchrony Financial (NYSE:SYF)

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Synchrony Financial (NYSE:SYF) by 0.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 494,595 shares of the financial services provider’s stock after buying an additional 3,100 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Synchrony Financial were worth $18,889,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in SYF. Live Oak Investment Partners purchased a new position in shares of Synchrony Financial during the fourth quarter valued at approximately $27,000. Exchange Traded Concepts LLC purchased a new position in shares of Synchrony Financial during the third quarter valued at approximately $35,000. Covestor Ltd boosted its position in shares of Synchrony Financial by 138.8% during the first quarter. Covestor Ltd now owns 1,108 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 644 shares in the last quarter. Zions Bancorporation N.A. boosted its position in shares of Synchrony Financial by 230.5% during the first quarter. Zions Bancorporation N.A. now owns 1,226 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 855 shares in the last quarter. Finally, Parkside Financial Bank & Trust boosted its position in shares of Synchrony Financial by 76.2% during the first quarter. Parkside Financial Bank & Trust now owns 1,325 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 573 shares in the last quarter. 96.48% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SYF has been the topic of several analyst reports. JPMorgan Chase & Co. boosted their target price on Synchrony Financial from $39.00 to $42.00 and gave the stock a “neutral” rating in a report on Wednesday, April 3rd. StockNews.com downgraded Synchrony Financial from a “buy” rating to a “hold” rating in a report on Wednesday. Evercore ISI boosted their target price on Synchrony Financial from $45.00 to $47.00 and gave the stock an “outperform” rating in a report on Thursday, March 28th. Deutsche Bank Aktiengesellschaft assumed coverage on Synchrony Financial in a research note on Wednesday, January 10th. They issued a “buy” rating and a $56.00 price target for the company. Finally, JMP Securities boosted their price target on Synchrony Financial from $35.00 to $42.00 and gave the stock a “market outperform” rating in a research note on Friday, January 12th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $41.44.

Synchrony Financial Stock Up 2.8 %

Synchrony Financial stock opened at $40.80 on Friday. The stock has a market cap of $16.60 billion, a PE ratio of 7.88, a price-to-earnings-growth ratio of 0.99 and a beta of 1.61. The company has a debt-to-equity ratio of 1.21, a quick ratio of 1.22 and a current ratio of 1.22. Synchrony Financial has a one year low of $26.59 and a one year high of $43.83. The stock has a fifty day moving average of $41.16 and a 200 day moving average of $36.27.

Synchrony Financial (NYSE:SYF) last issued its quarterly earnings results on Tuesday, January 23rd. The financial services provider reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.10. The business had revenue of $5.55 billion during the quarter, compared to analysts’ expectations of $4.45 billion. Synchrony Financial had a return on equity of 17.37% and a net margin of 10.68%. During the same quarter in the prior year, the business posted $1.26 earnings per share. As a group, sell-side analysts predict that Synchrony Financial will post 5.54 EPS for the current year.

Synchrony Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Monday, February 5th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date of this dividend was Friday, February 2nd. Synchrony Financial’s payout ratio is 19.31%.

Insiders Place Their Bets

In other Synchrony Financial news, insider Brian D. Doubles sold 134,696 shares of the company’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $41.26, for a total value of $5,557,556.96. Following the completion of the sale, the insider now owns 660,353 shares in the company, valued at $27,246,164.78. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Synchrony Financial news, insider Brian D. Doubles sold 134,696 shares of the company’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $41.26, for a total value of $5,557,556.96. Following the completion of the sale, the insider now owns 660,353 shares in the company, valued at $27,246,164.78. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Curtis Howse sold 6,179 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $42.82, for a total value of $264,584.78. Following the completion of the transaction, the insider now directly owns 152,604 shares of the company’s stock, valued at approximately $6,534,503.28. The disclosure for this sale can be found here. Insiders sold a total of 148,158 shares of company stock worth $6,106,106 over the last quarter. 0.65% of the stock is currently owned by corporate insiders.

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.