8,639 Shares in Synchrony Financial (NYSE:SYF) Bought by Sierra Summit Advisors LLC

Sierra Summit Advisors LLC bought a new stake in shares of Synchrony Financial (NYSE:SYF) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 8,639 shares of the financial services provider’s stock, valued at approximately $562,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bogart Wealth LLC acquired a new position in shares of Synchrony Financial during the 4th quarter valued at about $26,000. TCTC Holdings LLC bought a new stake in Synchrony Financial during the fourth quarter worth approximately $27,000. Y.D. More Investments Ltd grew its holdings in Synchrony Financial by 111.5% during the fourth quarter. Y.D. More Investments Ltd now owns 480 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 253 shares during the last quarter. Raleigh Capital Management Inc. raised its position in shares of Synchrony Financial by 151.4% in the fourth quarter. Raleigh Capital Management Inc. now owns 807 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 486 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Synchrony Financial by 46.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 810 shares of the financial services provider’s stock worth $53,000 after buying an additional 257 shares during the last quarter. Institutional investors and hedge funds own 96.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Barclays upgraded shares of Synchrony Financial from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $59.00 to $79.00 in a research note on Monday, January 6th. Bank of America lifted their price objective on Synchrony Financial from $82.00 to $85.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. The Goldman Sachs Group cut their price objective on Synchrony Financial from $82.00 to $70.00 and set a “buy” rating for the company in a research report on Tuesday, March 18th. Keefe, Bruyette & Woods raised their target price on Synchrony Financial from $62.00 to $82.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Finally, JPMorgan Chase & Co. upgraded Synchrony Financial from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $59.00 to $72.00 in a report on Monday, December 9th. Seven research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Synchrony Financial presently has an average rating of “Moderate Buy” and an average price target of $68.26.

Synchrony Financial Stock Down 6.0 %

Shares of SYF opened at $43.76 on Monday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.01. The company has a 50-day moving average price of $59.21 and a two-hundred day moving average price of $60.71. The stock has a market cap of $17.01 billion, a price-to-earnings ratio of 5.12, a P/E/G ratio of 0.71 and a beta of 1.67. Synchrony Financial has a 12 month low of $39.67 and a 12 month high of $70.93.

Synchrony Financial (NYSE:SYF) last posted its earnings results on Tuesday, January 28th. The financial services provider reported $1.91 EPS for the quarter, topping the consensus estimate of $1.89 by $0.02. Synchrony Financial had a return on equity of 18.30% and a net margin of 15.36%. Equities analysts predict that Synchrony Financial will post 7.67 EPS for the current fiscal year.

Synchrony Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 3rd were paid 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 2.29%. Synchrony Financial’s dividend payout ratio is presently 11.71%.

About Synchrony Financial

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.