SVB Wealth LLC Makes New $556,000 Investment in Synchrony Financial (NYSE:SYF)

SVB Wealth LLC purchased a new stake in Synchrony Financial (NYSE:SYF) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 8,551 shares of the financial services provider’s stock, valued at approximately $556,000.

Several other hedge funds have also recently modified their holdings of the business. Bogart Wealth LLC bought a new position in Synchrony Financial in the fourth quarter worth approximately $26,000. Larson Financial Group LLC increased 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 valued at $30,000 after acquiring an additional 292 shares during the period. Y.D. More Investments Ltd raised its position 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 acquiring an additional 253 shares in the last quarter. Quarry LP raised its position in shares of Synchrony Financial by 301.3% in the 3rd quarter. Quarry LP now owns 899 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 675 shares in the last quarter. Finally, Capital Performance Advisors LLP bought a new position in shares of Synchrony Financial in the 3rd quarter worth $50,000. Hedge funds and other institutional investors own 96.48% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. JPMorgan Chase & Co. raised Synchrony Financial from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $59.00 to $72.00 in a research report on Monday, December 9th. 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. Wells Fargo & Company raised shares of Synchrony Financial from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $60.00 to $85.00 in a research report on Tuesday, December 3rd. UBS Group increased their target price on shares of Synchrony Financial from $58.00 to $66.00 and gave the company a “neutral” rating in a research report on Monday, January 13th. Finally, Truist Financial increased their target price on shares of Synchrony Financial from $72.00 to $77.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. Seven equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $69.30.

Synchrony Financial Price Performance

Shares of NYSE:SYF opened at $57.98 on Tuesday. Synchrony Financial has a twelve month low of $39.67 and a twelve month high of $70.93. The company’s 50 day moving average is $65.81 and its 200 day moving average is $59.85. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.01. The company has a market cap of $22.54 billion, a PE ratio of 6.79, a price-to-earnings-growth ratio of 0.71 and a beta of 1.63.

Synchrony Financial (NYSE:SYF) last issued its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $1.91 earnings per share for the quarter, topping the consensus estimate 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 forecast that Synchrony Financial will post 7.67 EPS for the current year.

Synchrony Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.72%. Synchrony Financial’s payout ratio is currently 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.