National Bank of Canada FI Acquires 132,047 Shares of Synchrony Financial (NYSE:SYF)

National Bank of Canada FI increased its stake in Synchrony Financial (NYSE:SYF - Free Report) by 119.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 243,040 shares of the financial services provider's stock after acquiring an additional 132,047 shares during the period. National Bank of Canada FI owned approximately 0.06% of Synchrony Financial worth $12,123,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of SYF. Larson Financial Group LLC lifted its position in shares of Synchrony Financial by 92.7% in the 3rd quarter. Larson Financial Group LLC now owns 607 shares of the financial services provider's stock valued at $30,000 after acquiring an additional 292 shares in the last quarter. Altshuler Shaham Ltd bought a new position in shares of Synchrony Financial during the 2nd quarter valued at $31,000. International Assets Investment Management LLC bought a new stake in shares of Synchrony Financial during the 2nd quarter worth about $33,000. WR Wealth Planners LLC boosted its position in Synchrony Financial by 83.6% during the second quarter. WR Wealth Planners LLC now owns 716 shares of the financial services provider's stock worth $34,000 after purchasing an additional 326 shares during the period. Finally, Ashton Thomas Private Wealth LLC bought a new position in Synchrony Financial in the 2nd quarter worth $39,000. Institutional investors own 96.48% of the company's stock.

Synchrony Financial Stock Up 2.5 %

NYSE:SYF traded up $1.66 during midday trading on Wednesday, hitting $68.53. 4,386,962 shares of the company were exchanged, compared to its average volume of 3,941,461. The company has a fifty day simple moving average of $60.14 and a 200 day simple moving average of $51.71. The company has a market capitalization of $26.68 billion, a PE ratio of 8.81, a price-to-earnings-growth ratio of 0.94 and a beta of 1.63. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.06. Synchrony Financial has a fifty-two week low of $35.23 and a fifty-two week high of $69.39.

Synchrony Financial (NYSE:SYF - Get Free Report) last released its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.94 EPS for the quarter, topping analysts' consensus estimates of $1.77 by $0.17. The firm had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $3.76 billion. Synchrony Financial had a net margin of 13.98% and a return on equity of 16.64%. The firm's revenue was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.48 earnings per share. As a group, equities analysts anticipate that Synchrony Financial will post 6.53 earnings per share for the current fiscal year.

Synchrony Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.46%. The ex-dividend date was Monday, November 4th. Synchrony Financial's dividend payout ratio is currently 13.05%.

Insider Activity at Synchrony Financial

In other news, insider Curtis Howse sold 21,934 shares of the business'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 transaction of $1,209,221.42. Following the sale, the insider now owns 99,743 shares in the company, valued at $5,498,831.59. The trade was a 18.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jonathan S. Mothner sold 34,163 shares of the company's stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $64.99, for a total transaction of $2,220,253.37. Following the completion of the transaction, the insider now owns 127,587 shares in the company, valued at approximately $8,291,879.13. This represents a 21.12 % decrease in their position. The disclosure for this sale can be found here. 0.33% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on SYF. Barclays lifted their target price on shares of Synchrony Financial from $49.00 to $59.00 and gave the company an "equal weight" rating in a research report on Thursday, October 17th. StockNews.com upgraded Synchrony Financial from a "hold" rating to a "buy" rating in a research report on Wednesday, October 9th. Jefferies Financial Group lifted their price target on shares of Synchrony Financial from $60.00 to $65.00 and gave the company a "buy" rating in a research note on Thursday, October 17th. Wells Fargo & Company raised shares of Synchrony Financial from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $60.00 to $85.00 in a report on Tuesday, December 3rd. Finally, Keefe, Bruyette & Woods increased their price objective on Synchrony Financial from $62.00 to $82.00 and gave the stock an "outperform" rating in a research report on Monday. One analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $61.53.

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.