Azora Capital LP Decreases Position in Synchrony Financial (NYSE:SYF)

Azora Capital LP trimmed its holdings in shares of Synchrony Financial (NYSE:SYF) by 91.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 263,330 shares of the financial services provider’s stock after selling 2,666,516 shares during the period. Azora Capital LP owned about 0.07% of Synchrony Financial worth $13,135,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Graypoint LLC boosted its holdings in Synchrony Financial by 4.0% during the 3rd quarter. Graypoint LLC now owns 4,668 shares of the financial services provider’s stock valued at $233,000 after acquiring an additional 181 shares during the period. Empirical Finance LLC lifted its position in Synchrony Financial by 1.3% in the third quarter. Empirical Finance LLC now owns 15,499 shares of the financial services provider’s stock valued at $773,000 after purchasing an additional 204 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Synchrony Financial by 1.1% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 19,995 shares of the financial services provider’s stock valued at $997,000 after purchasing an additional 227 shares during the period. Wedmont Private Capital boosted its stake in shares of 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. Finally, 1832 Asset Management L.P. grew its holdings in shares of Synchrony Financial by 0.5% in the second quarter. 1832 Asset Management L.P. now owns 52,242 shares of the financial services provider’s stock worth $2,465,000 after purchasing an additional 251 shares during the last quarter. 96.48% of the stock is owned by institutional investors.

Synchrony Financial Price Performance

SYF stock opened at $67.52 on Monday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.25 and a current ratio of 1.25. The firm has a 50 day moving average price of $57.60 and a 200-day moving average price of $50.55. Synchrony Financial has a 52-week low of $31.26 and a 52-week high of $68.69. The firm has a market capitalization of $26.29 billion, a price-to-earnings ratio of 8.81, a PEG 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 EPS for the quarter, topping the consensus estimate of $1.77 by $0.17. Synchrony Financial had a return on equity of 16.64% and a net margin of 13.98%. The business had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $3.76 billion. During the same period in the previous year, the company posted $1.48 earnings per share. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. Equities research analysts forecast that Synchrony Financial will post 6.52 EPS for the current fiscal year.

Synchrony Financial Dividend Announcement

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

Analysts Set New Price Targets

SYF has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft raised their price target on shares of Synchrony Financial from $58.00 to $68.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. BTIG Research cut Synchrony Financial from a “buy” rating to a “neutral” rating in a research note on Monday, September 16th. TD Cowen upped their price target on Synchrony Financial from $60.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Barclays lifted their price objective on Synchrony Financial from $49.00 to $59.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Finally, The Goldman Sachs Group upped their target price on Synchrony Financial from $64.00 to $72.50 and gave the company a “buy” rating in a report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $57.43.

Insider Buying and Selling at Synchrony Financial

In other Synchrony Financial news, insider Jonathan S. Mothner sold 34,163 shares of the stock in a transaction on 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 approximately $8,291,879.13. This trade represents a 21.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Curtis Howse sold 21,934 shares of Synchrony Financial stock in a transaction 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 of the company’s stock, valued at approximately $5,498,831.59. The trade was a 18.03 % decrease in their position. The disclosure for this sale can be found here. 0.33% of the stock is owned by company insiders.

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.