Amalgamated Bank Sells 52,564 Shares of Synchrony Financial (NYSE:SYF)

Amalgamated Bank lowered its position in shares of Synchrony Financial (NYSE:SYF - Free Report) by 40.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 77,847 shares of the financial services provider's stock after selling 52,564 shares during the quarter. Amalgamated Bank's holdings in Synchrony Financial were worth $3,883,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in SYF. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Synchrony Financial by 1.1% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 19,995 shares of the financial services provider's stock worth $997,000 after buying an additional 227 shares during the period. Wedmont Private Capital lifted its position in Synchrony Financial by 3.3% during the third quarter. Wedmont Private Capital now owns 7,508 shares of the financial services provider's stock valued at $387,000 after purchasing an additional 242 shares during the period. 1832 Asset Management L.P. grew its position in Synchrony Financial by 0.5% during the second quarter. 1832 Asset Management L.P. now owns 52,242 shares of the financial services provider's stock valued at $2,465,000 after buying an additional 251 shares during the period. Signaturefd LLC grew its position in shares of Synchrony Financial by 2.7% in the third quarter. Signaturefd LLC now owns 9,877 shares of the financial services provider's stock valued at $493,000 after purchasing an additional 261 shares during the period. Finally, Certuity LLC grew its holdings in shares of Synchrony Financial by 0.8% during the second quarter. Certuity LLC now owns 31,326 shares of the financial services provider's stock worth $1,478,000 after buying an additional 264 shares in the last quarter. Institutional investors own 96.48% of the company's stock.

Insider Transactions at Synchrony Financial

In related news, insider Curtis Howse sold 21,934 shares of the business's stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $55.13, for a total value of $1,209,221.42. Following the completion of the sale, the insider now directly owns 99,743 shares in the company, valued at approximately $5,498,831.59. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Synchrony Financial news, insider Curtis Howse sold 21,934 shares of the firm's stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $55.13, for a total value of $1,209,221.42. Following the sale, the insider now owns 99,743 shares in the company, valued at $5,498,831.59. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Brian J. Sr. Wenzel sold 74,698 shares of Synchrony Financial stock in a transaction on Monday, August 19th. The stock was sold at an average price of $46.73, for a total transaction of $3,490,637.54. Following the transaction, the insider now owns 76,251 shares in the company, valued at approximately $3,563,209.23. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Evercore ISI increased their price objective on Synchrony Financial from $58.00 to $65.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 30th. Robert W. Baird set a $62.00 price objective on Synchrony Financial in a research note on Thursday, October 17th. Morgan Stanley increased their target price on Synchrony Financial from $37.00 to $40.00 and gave the company an "underweight" rating in a report on Thursday, October 17th. JMP Securities restated a "market outperform" rating and issued a $60.00 target price on shares of Synchrony Financial in a report on Monday, October 14th. Finally, Compass Point increased their price objective on Synchrony Financial from $56.00 to $60.00 and gave the company a "buy" rating in a report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, eight have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $56.60.

Synchrony Financial Trading Down 1.3 %

Shares of Synchrony Financial stock traded down $0.85 during trading on Friday, reaching $63.79. 4,786,578 shares of the company were exchanged, compared to its average volume of 3,970,227. The firm has a market capitalization of $24.84 billion, a price-to-earnings ratio of 8.33, a P/E/G ratio of 1.31 and a beta of 1.59. The business has a 50-day moving average price of $52.41 and a 200-day moving average price of $48.31. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.06. Synchrony Financial has a twelve month low of $28.84 and a twelve month high of $67.76.

Synchrony Financial (NYSE:SYF - Get Free Report) last announced its earnings results on Wednesday, October 16th. The financial services provider reported $1.94 earnings per share for the quarter, topping analysts' consensus estimates of $1.77 by $0.17. Synchrony Financial had a net margin of 13.98% and a return on equity of 16.64%. The firm had revenue of $3.81 billion during the quarter, compared to analyst estimates of $3.76 billion. During the same period in the prior year, the business earned $1.48 EPS. The company's revenue for the quarter was up 9.8% compared to the same quarter last year. Sell-side analysts anticipate that Synchrony Financial will post 6.42 EPS for the current fiscal year.

Synchrony Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Monday, November 4th will be issued a $0.25 dividend. The ex-dividend date is Monday, November 4th. This represents a $1.00 annualized dividend and a dividend yield of 1.57%. Synchrony Financial's dividend payout ratio is currently 13.05%.

About Synchrony Financial

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.