Tributary Capital Management LLC Sells 4,700 Shares of Synchrony Financial (NYSE:SYF)

Tributary Capital Management LLC trimmed its position in Synchrony Financial (NYSE:SYF) by 51.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,450 shares of the financial services provider’s stock after selling 4,700 shares during the period. Tributary Capital Management LLC’s holdings in Synchrony Financial were worth $236,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SYF. EverSource Wealth Advisors LLC increased its stake in Synchrony Financial by 46.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 810 shares of the financial services provider’s stock valued at $53,000 after acquiring an additional 257 shares during the last quarter. Commonwealth Equity Services LLC raised its holdings in Synchrony Financial by 7.4% in the 4th quarter. Commonwealth Equity Services LLC now owns 44,519 shares of the financial services provider’s stock worth $2,894,000 after acquiring an additional 3,083 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its position in Synchrony Financial by 58.0% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 17,927 shares of the financial services provider’s stock worth $1,165,000 after purchasing an additional 6,584 shares during the period. Tocqueville Asset Management L.P. bought a new stake in shares of Synchrony Financial during the 4th quarter valued at $316,000. Finally, Generali Asset Management SPA SGR bought a new position in Synchrony Financial in the 4th quarter worth $3,228,000. 96.48% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on SYF. Barclays increased their price objective on shares of Synchrony Financial from $62.00 to $81.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 8th. Evercore ISI cut their price objective on shares of Synchrony Financial from $64.00 to $56.00 and set an “outperform” rating for the company in a report on Wednesday, April 23rd. Cfra Research raised shares of Synchrony Financial to a “hold” rating in a research note on Tuesday, April 22nd. Truist Financial boosted their target price on shares of Synchrony Financial from $63.00 to $68.00 and gave the company a “hold” rating in a report on Friday, June 13th. Finally, Wall Street Zen raised shares of Synchrony Financial from a “hold” rating to a “buy” rating in a research note on Tuesday, May 20th. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, Synchrony Financial has a consensus rating of “Moderate Buy” and a consensus target price of $71.53.

Insider Buying and Selling

In other Synchrony Financial news, insider Curtis Howse sold 11,380 shares of the firm’s stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $65.00, for a total transaction of $739,700.00. Following the completion of the transaction, the insider directly owned 108,062 shares of the company’s stock, valued at $7,024,030. This trade represents a 9.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jonathan S. Mothner sold 40,639 shares of the business’s stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $60.07, for a total transaction of $2,441,184.73. Following the completion of the sale, the insider owned 146,628 shares in the company, valued at $8,807,943.96. The trade was a 21.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.32% of the company’s stock.

Synchrony Financial Stock Up 1.4%

Shares of NYSE SYF opened at $70.26 on Friday. The stock has a 50 day moving average price of $62.89 and a 200 day moving average price of $59.82. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.25 and a current ratio of 1.25. The firm has a market capitalization of $26.74 billion, a price-to-earnings ratio of 9.64, a PEG ratio of 0.71 and a beta of 1.46. Synchrony Financial has a 52-week low of $40.55 and a 52-week high of $71.88.

Synchrony Financial (NYSE:SYF) last released its earnings results on Tuesday, April 22nd. The financial services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.63 by $0.26. The business had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.80 billion. Synchrony Financial had a net margin of 13.00% and a return on equity of 19.68%. Sell-side analysts expect that Synchrony Financial will post 7.67 earnings per share for the current year.

Synchrony Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, May 5th were paid a dividend of $0.30 per share. This is an increase from Synchrony Financial’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, May 5th. This represents a $1.20 annualized dividend and a dividend yield of 1.71%. Synchrony Financial’s dividend payout ratio is presently 16.46%.

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.