Stock Yards Bank & Trust Co. Sells 502 Shares of Synchrony Financial (NYSE:SYF)

Stock Yards Bank & Trust Co. reduced its position in shares of Synchrony Financial (NYSE:SYF) by 6.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 7,358 shares of the financial services provider’s stock after selling 502 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in Synchrony Financial were worth $281,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in SYF. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Synchrony Financial by 45.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 108,458 shares of the financial services provider’s stock valued at $4,142,000 after acquiring an additional 33,867 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in Synchrony Financial by 58.1% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 280,952 shares of the financial services provider’s stock valued at $10,646,000 after acquiring an additional 103,222 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in Synchrony Financial by 4.1% in the third quarter. Ameriprise Financial Inc. now owns 3,707,427 shares of the financial services provider’s stock valued at $113,336,000 after acquiring an additional 145,466 shares during the last quarter. Blueshift Asset Management LLC boosted its holdings in Synchrony Financial by 51.1% in the third quarter. Blueshift Asset Management LLC now owns 46,331 shares of the financial services provider’s stock valued at $1,416,000 after acquiring an additional 15,666 shares during the last quarter. Finally, FMR LLC boosted its holdings in Synchrony Financial by 2.5% in the third quarter. FMR LLC now owns 2,054,697 shares of the financial services provider’s stock valued at $62,812,000 after acquiring an additional 50,495 shares during the last quarter. 96.48% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on SYF shares. Piper Sandler upped their target price on Synchrony Financial from $46.00 to $48.00 and gave the company an “overweight” rating in a report on Wednesday, January 24th. JPMorgan Chase & Co. upped their target price on Synchrony Financial from $39.00 to $42.00 and gave the company a “neutral” rating in a report on Wednesday, April 3rd. Barclays upped their target price on Synchrony Financial from $36.00 to $37.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. Evercore ISI increased their price target on Synchrony Financial from $45.00 to $47.00 and gave the stock an “outperform” rating in a report on Thursday, March 28th. Finally, Wolfe Research upgraded Synchrony Financial from an “underperform” rating to an “outperform” rating and increased their price target for the stock from $36.00 to $50.00 in a report on Thursday, April 4th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $41.44.

Insider Activity at Synchrony Financial

In related news, insider David P. Melito sold 7,283 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $38.99, for a total value of $283,964.17. Following the completion of the sale, the insider now directly owns 14,183 shares of the company’s stock, valued at approximately $552,995.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Curtis Howse sold 6,179 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $42.82, for a total value of $264,584.78. Following the completion of the sale, the insider now directly owns 152,604 shares of the company’s stock, valued at approximately $6,534,503.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider David P. Melito sold 7,283 shares of the stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $38.99, for a total value of $283,964.17. Following the completion of the sale, the insider now directly owns 14,183 shares of the company’s stock, valued at $552,995.17. The disclosure for this sale can be found here. In the last three months, insiders sold 148,158 shares of company stock valued at $6,106,106. 0.65% of the stock is owned by insiders.

Synchrony Financial Price Performance

Shares of NYSE:SYF opened at $45.06 on Thursday. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 1.21. Synchrony Financial has a twelve month low of $26.59 and a twelve month high of $45.16. The stock’s 50 day moving average is $41.47 and its 200-day moving average is $36.70. The firm has a market capitalization of $18.33 billion, a price-to-earnings ratio of 8.70, a PEG ratio of 1.06 and a beta of 1.61.

Synchrony Financial (NYSE:SYF) last issued its earnings results on Tuesday, January 23rd. The financial services provider reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.10. Synchrony Financial had a return on equity of 17.37% and a net margin of 10.68%. The company had revenue of $5.55 billion for the quarter, compared to analyst estimates of $4.45 billion. During the same period in the prior year, the firm earned $1.26 earnings per share. Sell-side analysts forecast that Synchrony Financial will post 5.57 EPS for the current fiscal year.

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.