Zurcher Kantonalbank Zurich Cantonalbank Has $25.36 Million Stock Holdings in Synchrony Financial (NYSE:SYF)

Zurcher Kantonalbank Zurich Cantonalbank decreased its stake in shares of Synchrony Financial (NYSE:SYF) by 4.7% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 508,454 shares of the financial services provider’s stock after selling 24,850 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Synchrony Financial were worth $25,362,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Swedbank AB lifted its position in shares of Synchrony Financial by 23.8% during the second quarter. Swedbank AB now owns 99,461 shares of the financial services provider’s stock worth $4,694,000 after purchasing an additional 19,098 shares in the last quarter. Cetera Investment Advisers acquired a new stake in shares of Synchrony Financial in the 1st quarter valued at $2,192,000. National Pension Service raised its position in shares of Synchrony Financial by 22.7% during the third quarter. National Pension Service now owns 957,758 shares of the financial services provider’s stock worth $47,773,000 after acquiring an additional 177,051 shares during the last quarter. QRG Capital Management Inc. lifted its stake in shares of Synchrony Financial by 17.2% during the second quarter. QRG Capital Management Inc. now owns 287,547 shares of the financial services provider’s stock valued at $13,569,000 after acquiring an additional 42,293 shares during the period. Finally, Alpha DNA Investment Management LLC bought a new position in Synchrony Financial in the second quarter valued at about $951,000. Institutional investors own 96.48% of the company’s stock.

Synchrony Financial Stock Up 0.4 %

Shares of SYF stock opened at $67.52 on Friday. Synchrony Financial has a 12-month low of $31.26 and a 12-month high of $68.69. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.06. The firm has a fifty day moving average of $57.60 and a 200-day moving average of $50.47. The company has a market capitalization of $26.29 billion, a price-to-earnings ratio of 8.81, a P/E/G ratio of 0.93 and a beta of 1.59.

Synchrony Financial (NYSE:SYF) last released its earnings results on Wednesday, October 16th. The financial services provider reported $1.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.77 by $0.17. Synchrony Financial had a return on equity of 16.64% and a net margin of 13.98%. The firm had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $3.76 billion. During the same quarter in the prior year, the company earned $1.48 EPS. The company’s revenue was up 9.8% on a year-over-year basis. As a group, equities research analysts predict that Synchrony Financial will post 6.52 earnings per share for the current fiscal year.

Synchrony Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 4th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date was Monday, November 4th. Synchrony Financial’s dividend payout ratio is presently 13.05%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SYF. Deutsche Bank Aktiengesellschaft boosted their price objective on Synchrony Financial from $58.00 to $68.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Morgan Stanley increased their price objective on shares of Synchrony Financial from $37.00 to $40.00 and gave the company an “underweight” rating in a report on Thursday, October 17th. Bank of America raised shares of Synchrony Financial from a “neutral” rating to a “buy” rating and set a $54.00 target price for the company in a report on Friday, August 9th. Evercore ISI upped their target price on shares of Synchrony Financial from $58.00 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, Royal Bank of Canada raised their price target on Synchrony Financial from $55.00 to $62.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 17th. One research 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. According to MarketBeat.com, Synchrony Financial has an average rating of “Moderate Buy” and a consensus target price of $57.43.

Insider Buying and Selling at Synchrony Financial

In other Synchrony Financial news, insider Curtis Howse sold 21,934 shares of Synchrony Financial stock in a transaction 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 directly owns 99,743 shares in the company, valued at approximately $5,498,831.59. The trade was a 18.03 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jonathan S. Mothner sold 34,163 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $64.99, for a total transaction of $2,220,253.37. Following the sale, the insider now directly owns 127,587 shares in the company, valued at $8,291,879.13. This trade represents a 21.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.33% of the company’s stock.

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.