Wilbanks Smith & Thomas Asset Management LLC Buys Shares of 11,510 Synchrony Financial (SYF)

Wilbanks Smith & Thomas Asset Management LLC bought a new stake in shares of Synchrony Financial (NYSE:SYF) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 11,510 shares of the financial services provider’s stock, valued at approximately $343,000.

A number of other large investors also recently added to or reduced their stakes in SYF. Westside Investment Management Inc. raised its stake in shares of Synchrony Financial by 32.1% in the 2nd quarter. Westside Investment Management Inc. now owns 3,567 shares of the financial services provider’s stock valued at $104,000 after buying an additional 867 shares in the last quarter. First Quadrant L P CA raised its stake in shares of Synchrony Financial by 55.4% in the 2nd quarter. First Quadrant L P CA now owns 3,726 shares of the financial services provider’s stock valued at $111,000 after buying an additional 1,328 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in shares of Synchrony Financial by 39.0% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 4,560 shares of the financial services provider’s stock valued at $136,000 after buying an additional 1,280 shares in the last quarter. State of Alaska Department of Revenue raised its stake in shares of Synchrony Financial by 19.7% in the 2nd quarter. State of Alaska Department of Revenue now owns 5,338 shares of the financial services provider’s stock valued at $159,000 after buying an additional 880 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its stake in shares of Synchrony Financial by 9.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,387 shares of the financial services provider’s stock valued at $160,000 after buying an additional 486 shares in the last quarter. Hedge funds and other institutional investors own 87.07% of the company’s stock.

In other Synchrony Financial news, Director Paget Leonard Alves bought 2,000 shares of the stock in a transaction on Monday, July 24th. The stock was purchased at an average price of $30.85 per share, with a total value of $61,700.00. Following the completion of the purchase, the director now owns 8,521 shares in the company, valued at $262,872.85. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 0.03% of the stock is currently owned by insiders.

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A number of equities analysts have recently issued reports on SYF shares. BidaskClub cut shares of Synchrony Financial from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $39.00 price objective on shares of Synchrony Financial in a research note on Thursday. BMO Capital Markets restated a “buy” rating on shares of Synchrony Financial in a research note on Friday, July 21st. Jefferies Group LLC restated a “buy” rating and issued a $40.00 price objective on shares of Synchrony Financial in a research note on Thursday, September 21st. Finally, Wells Fargo & Company started coverage on shares of Synchrony Financial in a research note on Tuesday. They issued a “market perform” rating and a $33.00 price objective for the company. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Synchrony Financial presently has an average rating of “Buy” and an average target price of $36.63.

Synchrony Financial (NYSE:SYF) last issued its earnings results on Friday, July 21st. The financial services provider reported $0.61 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.03. The firm had revenue of $3.64 billion during the quarter, compared to the consensus estimate of $3.59 billion. Synchrony Financial had a return on equity of 15.30% and a net margin of 13.84%. During the same quarter in the previous year, the firm earned $0.58 earnings per share.

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.

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

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