Trust Co. of Vermont Reduces Stake in Synchrony Financial (NYSE:SYF)

Trust Co. of Vermont decreased its stake in shares of Synchrony Financial (NYSE:SYF) by 5.8% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 3,974 shares of the financial services provider’s stock after selling 246 shares during the period. Trust Co. of Vermont’s holdings in Synchrony Financial were worth $188,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Headlands Technologies LLC bought a new position in shares of Synchrony Financial during the 1st quarter valued at about $28,000. Versant Capital Management Inc grew its position in Synchrony Financial by 786.6% during the 2nd quarter. Versant Capital Management Inc now owns 1,055 shares of the financial services provider’s stock worth $50,000 after acquiring an additional 936 shares during the last quarter. Wetzel Investment Advisors Inc. bought a new position in Synchrony Financial during the 4th quarter worth approximately $55,000. Brown Brothers Harriman & Co. grew its position in Synchrony Financial by 56.6% during the 4th quarter. Brown Brothers Harriman & Co. now owns 1,445 shares of the financial services provider’s stock worth $55,000 after acquiring an additional 522 shares during the last quarter. Finally, Principal Securities Inc. bought a new position in Synchrony Financial during the 4th quarter worth approximately $60,000. Hedge funds and other institutional investors own 96.48% of the company’s stock.

Synchrony Financial Stock Performance

Shares of SYF traded up $0.87 during trading hours on Wednesday, hitting $45.18. The stock had a trading volume of 1,334,327 shares, compared to its average volume of 4,178,760. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.23 and a quick ratio of 1.23. Synchrony Financial has a 12 month low of $27.30 and a 12 month high of $52.67. The firm has a market capitalization of $18.14 billion, a PE ratio of 6.53, a PEG ratio of 1.06 and a beta of 1.63. The stock has a fifty day moving average price of $46.57 and a 200 day moving average price of $43.44.

Synchrony Financial (NYSE:SYF) last released its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.20. Synchrony Financial had a return on equity of 16.06% and a net margin of 13.52%. The business had revenue of $5.58 billion during the quarter, compared to analyst estimates of $4.44 billion. During the same quarter in the previous year, the company posted $1.32 earnings per share. Analysts anticipate that Synchrony Financial will post 5.79 EPS for the current year.

Synchrony Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, August 5th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.21%. The ex-dividend date is Monday, August 5th. Synchrony Financial’s dividend payout ratio is presently 14.35%.

Synchrony Financial announced that its board has approved a share repurchase program on Wednesday, April 24th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to repurchase up to 5.5% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

Several equities analysts recently issued reports on SYF shares. JPMorgan Chase & Co. raised their price target on Synchrony Financial from $46.00 to $52.00 and gave the stock a “neutral” rating in a research report on Monday, July 8th. Royal Bank of Canada lifted their price objective on Synchrony Financial from $50.00 to $55.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 18th. Wells Fargo & Company lifted their price objective on Synchrony Financial from $49.00 to $53.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 18th. JMP Securities lifted their price objective on Synchrony Financial from $49.00 to $60.00 and gave the stock a “market outperform” rating in a research report on Tuesday, July 16th. Finally, Baird R W upgraded Synchrony Financial to a “strong-buy” rating in a research report on Friday, June 28th. One analyst has rated the stock with a sell rating, nine have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $50.50.

Insider Buying and Selling at Synchrony Financial

In other Synchrony Financial news, insider Bart Schaller sold 930 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $50.84, for a total transaction of $47,281.20. Following the completion of the sale, the insider now owns 49,390 shares of the company’s stock, valued at $2,510,987.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.33% of the stock is currently owned by corporate insiders.

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.