Sierra Summit Advisors LLC Purchases New Shares in Synchrony Financial (NYSE:SYF)

Sierra Summit Advisors LLC acquired a new position in shares of Synchrony Financial (NYSE:SYF) during the fourth quarter, HoldingsChannel reports. The fund acquired 8,639 shares of the financial services provider’s stock, valued at approximately $562,000.

Several other hedge funds have also modified their holdings of the stock. Bogart Wealth LLC acquired a new stake in Synchrony Financial in the fourth quarter worth about $26,000. TCTC Holdings LLC bought a new stake in shares of Synchrony Financial in the 4th quarter valued at $27,000. Y.D. More Investments Ltd increased 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 worth $31,000 after acquiring an additional 253 shares in the last quarter. Quarry LP increased its stake in Synchrony Financial by 301.3% during the 3rd quarter. Quarry LP now owns 899 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 675 shares in the last quarter. Finally, Raleigh Capital Management Inc. raised its holdings in Synchrony Financial by 151.4% during the 4th quarter. Raleigh Capital Management Inc. now owns 807 shares of the financial services provider’s stock worth $52,000 after buying an additional 486 shares during the period. 96.48% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

SYF has been the topic of a number of research reports. Truist Financial cut their price target on Synchrony Financial from $77.00 to $65.00 and set a “hold” rating on the stock in a report on Friday, March 21st. JPMorgan Chase & Co. upgraded shares of Synchrony Financial from a “neutral” rating to an “overweight” rating and increased their price target for the company from $59.00 to $72.00 in a research note on Monday, December 9th. Wells Fargo & Company reduced their target price on Synchrony Financial from $85.00 to $70.00 and set an “overweight” rating for the company in a research note on Thursday. Morgan Stanley raised shares of Synchrony Financial from an “underweight” rating to an “overweight” rating and lifted their target price for the stock from $40.00 to $82.00 in a report on Thursday, December 19th. Finally, Bank of America upped their price objective on Synchrony Financial from $82.00 to $85.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Seven analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $68.26.

Synchrony Financial Stock Down 6.0 %

SYF stock opened at $43.76 on Monday. The firm has a 50-day moving average price of $59.21 and a 200-day moving average price of $60.71. The stock has a market capitalization of $17.01 billion, a P/E ratio of 5.12, a price-to-earnings-growth 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. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.01.

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

Synchrony Financial Dividend Announcement

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

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.