Quarry LP Increases Stake in Synchrony Financial (NYSE:SYF)

Quarry LP lifted its stake in Synchrony Financial (NYSE:SYF) by 72.2% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,548 shares of the financial services provider’s stock after buying an additional 649 shares during the quarter. Quarry LP’s holdings in Synchrony Financial were worth $101,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bogart Wealth LLC purchased a new position in shares of Synchrony Financial during the fourth quarter valued at about $26,000. TCTC Holdings LLC bought a new position in shares of Synchrony Financial during the 4th quarter valued at approximately $27,000. Y.D. More Investments Ltd grew its holdings in shares of Synchrony Financial by 111.5% in 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 in the last quarter. Raleigh Capital Management Inc. lifted its position in Synchrony Financial by 151.4% during 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 last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Synchrony Financial by 46.5% in the 4th 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 in the last quarter. Institutional investors own 96.48% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on SYF shares. Wells Fargo & Company cut their price objective on shares of Synchrony Financial from $70.00 to $65.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. lowered their price objective on shares of Synchrony Financial from $76.00 to $50.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Cfra Research upgraded Synchrony Financial to a “hold” rating in a report on Tuesday, April 22nd. Bank of America increased their target price on shares of Synchrony Financial from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $44.00 price target (down from $82.00) on shares of Synchrony Financial in a research report on Monday, April 7th. Nine research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $63.95.

Synchrony Financial Price Performance

NYSE:SYF opened at $52.43 on Wednesday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.01. Synchrony Financial has a 52 week low of $40.55 and a 52 week high of $70.93. The stock’s 50-day moving average price is $52.26 and its 200-day moving average price is $60.29. The stock has a market capitalization of $20.38 billion, a PE ratio of 6.14, a price-to-earnings-growth ratio of 0.71 and a beta of 1.45.

Synchrony Financial (NYSE:SYF) last posted its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.63 by $0.26. Synchrony Financial had a return on equity of 18.30% and a net margin of 15.36%. The business had revenue of $3.72 billion during the quarter, compared to analysts’ expectations of $3.80 billion. As a group, equities analysts expect that Synchrony Financial will post 7.67 EPS for the current fiscal year.

Synchrony Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Monday, May 5th will be given a $0.30 dividend. This is a positive change from Synchrony Financial’s previous quarterly dividend of $0.25. The ex-dividend date is Monday, May 5th. This represents a $1.20 annualized dividend and a dividend yield of 2.29%. Synchrony Financial’s dividend payout ratio (DPR) is 16.46%.

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.