First American Bank Sells 29,408 Shares of Synchrony Financial (SYF)

First American Bank lowered its stake in shares of Synchrony Financial (NYSE:SYF) by 26.1% during the second quarter, according to its most recent filing with the SEC. The fund owned 83,354 shares of the financial services provider’s stock after selling 29,408 shares during the period. First American Bank’s holdings in Synchrony Financial were worth $2,486,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Rehmann Capital Advisory Group raised its stake in shares of Synchrony Financial by 0.3% in the first quarter. Rehmann Capital Advisory Group now owns 8,749 shares of the financial services provider’s stock worth $300,000 after buying an additional 22 shares in the last quarter. Patten Group Inc. raised its stake in shares of Synchrony Financial by 2.0% in the first quarter. Patten Group Inc. now owns 8,435 shares of the financial services provider’s stock worth $280,000 after buying an additional 165 shares in the last quarter. IFP Advisors Inc raised its stake in shares of Synchrony Financial by 3.4% in the first quarter. IFP Advisors Inc now owns 6,216 shares of the financial services provider’s stock worth $213,000 after buying an additional 206 shares in the last quarter. Creative Planning raised its stake in shares of Synchrony Financial by 4.3% in the first quarter. Creative Planning now owns 5,863 shares of the financial services provider’s stock worth $201,000 after buying an additional 240 shares in the last quarter. Finally, Raymond James Trust N.A. raised its stake in shares of Synchrony Financial by 4.3% in the first quarter. Raymond James Trust N.A. now owns 6,625 shares of the financial services provider’s stock worth $227,000 after buying an additional 274 shares in the last quarter. Institutional investors and hedge funds own 88.94% of the company’s stock.

Shares of Synchrony Financial (NYSE:SYF) traded down 2.02% during mid-day trading on Monday, hitting $29.10. The company had a trading volume of 3,297,018 shares. Synchrony Financial has a one year low of $26.01 and a one year high of $38.06. The company’s 50-day moving average is $28.13 and its 200 day moving average is $33.15. The company has a market capitalization of $23.60 billion, a PE ratio of 11.10 and a beta of 1.02.

Synchrony Financial (NYSE:SYF) last issued its quarterly earnings results on Friday, April 28th. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.74 by $0.13. Synchrony Financial had a return on equity of 14.02% and a net margin of 13.56%. The firm had revenue of $3.59 billion for the quarter, compared to the consensus estimate of $3.54 billion. During the same period last year, the firm earned $0.70 EPS. On average, equities research analysts forecast that Synchrony Financial will post $2.60 EPS for the current fiscal year.

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SYF has been the topic of a number of recent research reports. BMO Capital Markets reissued a “buy” rating and issued a $38.00 target price on shares of Synchrony Financial in a research report on Tuesday, April 11th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $44.00 price target on shares of Synchrony Financial in a research report on Tuesday, April 11th. BTIG Research lowered their price target on Synchrony Financial from $42.00 to $36.00 and set a “buy” rating on the stock in a research report on Monday, May 1st. Jefferies Group LLC decreased their target price on Synchrony Financial from $45.00 to $40.00 and set a “buy” rating on the stock in a report on Monday, May 1st. Finally, DA Davidson decreased their target price on Synchrony Financial from $45.00 to $41.00 and set a “buy” rating on the stock in a report on Monday, May 1st. Eight research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. Synchrony Financial presently has an average rating of “Buy” and an average price target of $37.71.

In other news, Director Will W. Graylin purchased 18,000 shares of the company’s stock in a transaction on Monday, May 1st. The stock was purchased at an average price of $27.80 per share, with a total value of $500,400.00. Following the completion of the purchase, the director now directly owns 55,389 shares in the company, valued at approximately $1,539,814.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.03% of the company’s stock.

About Synchrony Financial

Synchrony Financial is a consumer financial services company. The Company provides a range of credit products through programs it has established with a group of national and regional retailers, local merchants, manufacturers, buying groups, industry associations and healthcare service providers. The Company’s revenue activities are managed through three sales platforms: Retail Card, Payment Solutions and CareCredit.

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Institutional Ownership by Quarter for Synchrony Financial (NYSE:SYF)

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