Synchrony Financial (NYSE:SYF) Short Interest Up 16.8% in February

Synchrony Financial (NYSE:SYF) saw a large increase in short interest during the month of February. As of February 28th, there was short interest totalling 14,540,000 shares, an increase of 16.8% from the February 13th total of 12,450,000 shares. Currently, 3.8% of the shares of the company are sold short. Based on an average daily trading volume, of 3,800,000 shares, the days-to-cover ratio is currently 3.8 days.

Institutional Trading of Synchrony Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in SYF. Bogart Wealth LLC bought a new stake in shares of Synchrony Financial in the 4th quarter worth approximately $26,000. TCTC Holdings LLC bought a new stake in shares of Synchrony Financial in the 4th quarter worth approximately $27,000. Larson Financial Group LLC raised its holdings in shares of Synchrony Financial by 92.7% in the 3rd quarter. Larson Financial Group LLC now owns 607 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 292 shares in the last quarter. Y.D. More Investments Ltd raised its holdings in shares of Synchrony Financial by 111.5% in the 4th quarter. Y.D. More Investments Ltd now owns 480 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 253 shares in the last quarter. Finally, Accredited Wealth Management LLC purchased a new position in shares of Synchrony Financial in the fourth quarter worth approximately $38,000. 96.48% of the stock is currently owned by institutional investors.

Synchrony Financial Price Performance

Shares of SYF stock traded up $1.41 during midday trading on Wednesday, reaching $54.46. 4,927,712 shares of the company were exchanged, compared to its average volume of 3,652,822. Synchrony Financial has a 12 month low of $39.67 and a 12 month high of $70.93. The company has a market cap of $21.17 billion, a P/E ratio of 6.38, a PEG ratio of 0.71 and a beta of 1.67. The company’s 50 day moving average price is $63.07 and its two-hundred day moving average price is $60.26. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.24 and a current ratio of 1.24.

Synchrony Financial (NYSE:SYF) last released its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $1.91 EPS for the quarter, topping 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%. On average, sell-side analysts expect that Synchrony Financial will post 7.67 earnings per share for the current year.

Synchrony Financial Dividend Announcement

The firm also recently announced 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 was Monday, February 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.84%. Synchrony Financial’s payout ratio is currently 11.71%.

Analysts Set New Price Targets

SYF has been the topic of a number of recent research reports. Wells Fargo & Company upgraded shares of Synchrony Financial from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $60.00 to $85.00 in a research report on Tuesday, December 3rd. UBS Group raised their price target on shares of Synchrony Financial from $58.00 to $66.00 and gave the stock a “neutral” rating in a research report on Monday, January 13th. Barclays upgraded shares of Synchrony Financial from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $59.00 to $79.00 in a research report on Monday, January 6th. Royal Bank of Canada increased their price objective on shares of Synchrony Financial from $70.00 to $73.00 and gave the stock a “sector perform” rating in a report on Wednesday, January 29th. Finally, The Goldman Sachs Group reduced their target price on shares of Synchrony Financial from $82.00 to $70.00 and set a “buy” rating for the company in a research note on Tuesday. Six analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $68.70.

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.