Synchrony Financial $SYF Position Cut by Sterling Capital Management LLC

Sterling Capital Management LLC trimmed its holdings in shares of Synchrony Financial (NYSE:SYF) by 55.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,413 shares of the financial services provider’s stock after selling 11,485 shares during the quarter. Sterling Capital Management LLC’s holdings in Synchrony Financial were worth $668,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of Synchrony Financial in the second quarter worth about $2,349,452,000. Bank of America Corp DE bought a new stake in shares of Synchrony Financial during the 2nd quarter worth about $1,122,961,000. Legal & General Group Plc acquired a new position in shares of Synchrony Financial during the 2nd quarter valued at about $209,305,000. Bank of New York Mellon Corp acquired a new position in shares of Synchrony Financial during the 2nd quarter valued at about $193,684,000. Finally, Deutsche Bank AG bought a new position in shares of Synchrony Financial in the 2nd quarter valued at approximately $186,973,000. 96.48% of the stock is currently owned by institutional investors.

Synchrony Financial Stock Performance

NYSE:SYF opened at $75.06 on Wednesday. The firm’s 50-day moving average is $75.21 and its 200-day moving average is $73.77. Synchrony Financial has a 52-week low of $63.08 and a 52-week high of $88.77.

Synchrony Financial (NYSE:SYF) last announced its quarterly earnings data on Tuesday, October 20th. The financial services provider reported $2.68 EPS for the quarter, beating analysts’ consensus estimates of $2.42 by $0.26. The company had revenue of $3.82 billion for the quarter, compared to analyst estimates of $3.81 billion. During the same period in the prior year, the company posted $2.86 EPS. Sell-side analysts forecast that Synchrony Financial will post 9.60 earnings per share for the current year.

Synchrony Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Thursday, November 5th will be issued a $0.34 dividend. The ex-dividend date of this dividend is Thursday, November 5th. This represents a $1.36 annualized dividend and a yield of 1.8%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on SYF shares. HSBC boosted their target price on Synchrony Financial from $93.00 to $97.00 and gave the stock a “buy” rating in a report on Monday, July 13th. Evercore lowered shares of Synchrony Financial from an “outperform” rating to a “hold” rating and set a $78.00 price target on the stock. in a research report on Wednesday, October 21st. TD Cowen reduced their price objective on shares of Synchrony Financial from $90.00 to $86.00 and set a “buy” rating for the company in a research note on Tuesday, October 6th. UBS Group decreased their price objective on shares of Synchrony Financial from $87.00 to $81.00 and set a “neutral” rating for the company in a report on Monday, October 5th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating on shares of Synchrony Financial in a research note on Tuesday, October 20th. Ten analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Synchrony Financial presently has a consensus rating of “Moderate Buy” and an average target price of $87.83.

Synchrony Financial Profile

Synchrony Financial (NYSE: SYF) is a consumer financial services company that provides private-label credit cards, co-branded credit cards and promotional financing programs. Its financing products are offered through retailers, manufacturers, healthcare providers and other businesses, helping consumers pay for purchases over time.

The company serves a range of industries, including digital commerce, home improvement, furniture, automotive, healthcare, jewelry, apparel, electronics and specialty retail.