CIBC Asset Management Inc Sells 7,879 Shares of Synchrony Financial (NYSE:SYF)

CIBC Asset Management Inc lessened its holdings in Synchrony Financial (NYSE:SYF - Free Report) by 11.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 59,893 shares of the financial services provider's stock after selling 7,879 shares during the quarter. CIBC Asset Management Inc's holdings in Synchrony Financial were worth $3,893,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Apollon Wealth Management LLC boosted its stake in Synchrony Financial by 2.3% during the 4th quarter. Apollon Wealth Management LLC now owns 7,094 shares of the financial services provider's stock worth $461,000 after acquiring an additional 160 shares during the last quarter. Gladstone Institutional Advisory LLC boosted its stake in Synchrony Financial by 1.9% during the 4th quarter. Gladstone Institutional Advisory LLC now owns 9,290 shares of the financial services provider's stock worth $604,000 after acquiring an additional 176 shares during the last quarter. Graypoint LLC boosted its stake in Synchrony Financial by 4.0% during the 3rd quarter. Graypoint LLC now owns 4,668 shares of the financial services provider's stock worth $233,000 after acquiring an additional 181 shares during the last quarter. Wedmont Private Capital boosted its stake in Synchrony Financial by 2.6% during the 4th quarter. Wedmont Private Capital now owns 7,700 shares of the financial services provider's stock worth $491,000 after acquiring an additional 192 shares during the last quarter. Finally, Empirical Finance LLC boosted its stake in Synchrony Financial by 1.3% during the 3rd quarter. Empirical Finance LLC now owns 15,499 shares of the financial services provider's stock worth $773,000 after acquiring an additional 204 shares during the last quarter. Institutional investors own 96.48% of the company's stock.

Synchrony Financial Stock Performance

SYF stock traded down $2.50 during midday trading on Friday, reaching $61.35. 3,937,381 shares of the company were exchanged, compared to its average volume of 3,704,167. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.24 and a quick ratio of 1.24. The business has a 50-day moving average price of $66.69 and a two-hundred day moving average price of $58.94. Synchrony Financial has a one year low of $39.35 and a one year high of $70.93. The firm has a market capitalization of $23.85 billion, a price-to-earnings ratio of 7.18, a price-to-earnings-growth ratio of 0.73 and a beta of 1.63.

Synchrony Financial (NYSE:SYF - Get Free Report) last released its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $1.91 EPS for the quarter, topping analysts' consensus estimates of $1.89 by $0.02. Synchrony Financial had a net margin of 15.36% and a return on equity of 18.30%. Equities research analysts forecast that Synchrony Financial will post 7.67 EPS for the current year.

Synchrony Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 3rd were given a $0.25 dividend. The ex-dividend date was Monday, February 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.63%. Synchrony Financial's payout ratio is presently 11.71%.

Analyst Upgrades and Downgrades

SYF has been the topic of several research analyst reports. UBS Group raised their target price on shares of Synchrony Financial from $58.00 to $66.00 and gave the stock a "neutral" rating in a report on Monday, January 13th. JPMorgan Chase & Co. upgraded shares of Synchrony Financial from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $59.00 to $72.00 in a report on Monday, December 9th. Morgan Stanley upgraded shares of Synchrony Financial from an "underweight" rating to an "overweight" rating and raised their target price for the stock from $40.00 to $82.00 in a report on Thursday, December 19th. Barclays upgraded shares of Synchrony Financial from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $59.00 to $79.00 in a report on Monday, January 6th. Finally, Bank of America raised their target price on shares of Synchrony Financial from $82.00 to $85.00 and gave the stock a "buy" rating in a report on Tuesday, January 28th. Seven research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $69.30.

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.