SVB Wealth LLC Makes New Investment in Synchrony Financial (NYSE:SYF)

SVB Wealth LLC purchased a new position in shares of Synchrony Financial (NYSE:SYF) during the fourth quarter, Holdings Channel reports. The firm purchased 8,551 shares of the financial services provider’s stock, valued at approximately $556,000.

Other hedge funds also recently bought and sold shares of the company. Apollon Wealth Management LLC grew its position in shares of Synchrony Financial by 2.3% in the fourth quarter. Apollon Wealth Management LLC now owns 7,094 shares of the financial services provider’s stock valued at $461,000 after purchasing an additional 160 shares during the period. Gladstone Institutional Advisory LLC grew its position in shares of Synchrony Financial by 1.9% in the fourth quarter. Gladstone Institutional Advisory LLC now owns 9,290 shares of the financial services provider’s stock valued at $604,000 after purchasing an additional 176 shares during the period. Graypoint LLC grew its position in shares of Synchrony Financial by 4.0% in the third quarter. Graypoint LLC now owns 4,668 shares of the financial services provider’s stock valued at $233,000 after purchasing an additional 181 shares during the period. Wedmont Private Capital grew its position in shares of Synchrony Financial by 2.6% in the fourth quarter. Wedmont Private Capital now owns 7,700 shares of the financial services provider’s stock valued at $491,000 after purchasing an additional 192 shares during the period. Finally, Empirical Finance LLC grew its position in shares of Synchrony Financial by 1.3% in the third quarter. Empirical Finance LLC now owns 15,499 shares of the financial services provider’s stock valued at $773,000 after purchasing an additional 204 shares during the period. Hedge funds and other institutional investors own 96.48% of the company’s stock.

Synchrony Financial Trading Down 4.4 %

Shares of Synchrony Financial stock opened at $57.98 on Tuesday. The firm has a market capitalization of $22.54 billion, a price-to-earnings ratio of 6.79, a PEG ratio of 0.71 and a beta of 1.63. Synchrony Financial has a fifty-two week low of $39.67 and a fifty-two week high of $70.93. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.24 and a current ratio of 1.24. The stock has a 50 day moving average of $65.81 and a 200 day moving average of $59.85.

Synchrony Financial (NYSE:SYF) last announced its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $1.91 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.02. Synchrony Financial had a net margin of 15.36% and a return on equity of 18.30%. As a group, research analysts predict that Synchrony Financial will post 7.67 earnings per share for the current year.

Synchrony Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 3rd were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $1.00 annualized dividend and a dividend yield of 1.72%. Synchrony Financial’s dividend payout ratio is presently 11.71%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. UBS Group boosted their price target on Synchrony Financial from $58.00 to $66.00 and gave the stock a “neutral” rating in a research report on Monday, January 13th. The Goldman Sachs Group boosted their price target on Synchrony Financial from $72.50 to $82.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Morgan Stanley upgraded Synchrony Financial from an “underweight” rating to an “overweight” rating and boosted their price target for the stock from $40.00 to $82.00 in a research report on Thursday, December 19th. Royal Bank of Canada boosted their price target on Synchrony Financial from $70.00 to $73.00 and gave the stock a “sector perform” rating in a research report on Wednesday, January 29th. Finally, Truist Financial raised their target price on shares of Synchrony Financial from $72.00 to $77.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. Seven research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $69.30.

Synchrony Financial Company 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.