Shares of the company are trading at $32.68 which is a tad above $30.46, the 50 day moving average and slightly over the 200 day moving average of $29.88. The 50 day moving average was up $2.22 or +7.28% whereas the 200 day average was up by +9.39%. Trading was heavy with 15,401K shares changing hands on Tuesday. Volume was up 144.65% over the stocks average daily volume.
Investors are a little more bullish on shares of Synchrony Financial lately if you take a look at the fall in short interest. The stock recorded a fall in short interest from September 15, 2017 to September 29, 2017 of -18.80%. Short interest decreased from 13,687,662 to 11,114,997 over that timeframe. With short interest at 11,114,997 and short average daily volume at 6,424,995, the short-interest ratio is 2.0 and the short interest percentage is 0.01% as of September 29.
The following firms have recently changed their position in SYF. Seabridge Investment Advisors LLC cut its position by selling 1,336 shares a decrease of 0.6% as of 09/30/2017. Seabridge Investment Advisors LLC owns 225,575 shares with a value of $7,004,000. The total value of its holdings increased 3.5%. As of quarter end State Treasurer State Of Michigan had disposed of a total of 26,200 shares trimming its holdings by 10.4%. The value in dollars decreased from $7,548,000 to $7,046,000 a change of $502,000 quarter to quarter.
As of the end of the quarter Wealthtrust-arizona, LLC had sold 41 shares trimming its stake by 10.0%. The value of the investment in (SYF) went from $12,000 to $11,000 decreasing 8.3% for the reporting period. Robeco Institutional Asset Management B.v. trimmed its stake by shedding 10,304 shares a decrease of 22.4% in the quarter. Robeco Institutional Asset Management B.v. claims 35,768 shares worth $1,110,000. The value of the position overall is down by 19.2%.
On July 25 Morgan Stanley maintained a stock rating of “Overweight” but raised the price target from $30.00 to $35.00. On September 8 the company was set at “Equal-Weight” in a report from Morgan Stanley a cut from the previous “Overweight” rating.
On October 6, 2017 the stock rating was rated “Neutral” according to a Bank of America report which is down from the previous “Buy” rating. October 23 investment analysts at Wells Fargo held the stock rating at “Overweight” and raised the price expectation to $40.00 from $33.00.
On October 23 Barclays held the company rating at “Overweight” but moved down the price target from $41.00 to $40.00.
The company is so far trading down from yesterday’s close of 33.04. Additionally the company recently announced a dividend which was paid on Thursday the 17th of August 2017. The dividend was $0.150 per share for the quarter or $0.60 annualized. This dividend amount was represent a yield of $1.89. The ex-dividend date was set for Thursday the 3rd of August 2017.
The most current P/E ratio is 12.27 and market cap is 25.99B. As of the last earnings report the EPS was $2.66 and is projected to be $2.60 for the current year with 795,335,000 shares outstanding. Next quarter’s EPS is forecasted at $0.76 with next year’s EPS anticipated to be $3.24.
Synchrony Financial (Synchrony), launched on September 12, 2003, 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 Business’s revenue activities are managed through three sales platforms: Retail Card, Payment Solutions and CareCredit. It offers its credit products through its subsidiary, Synchrony Bank (the Bank). Through the Bank, it offers a range of deposit products insured by the Federal Deposit Insurance Corporation (FDIC), including certificates of deposit, individual retirement accounts (IRAs), money market accounts and savings accounts..