Westpac Banking Corp Sells 15,223 Shares of Synchrony Financial (NYSE:SYF)

Westpac Banking Corp decreased its stake in shares of Synchrony Financial (NYSE:SYF) by 14.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 87,101 shares of the financial services provider’s stock after selling 15,223 shares during the quarter. Westpac Banking Corp’s holdings in Synchrony Financial were worth $5,662,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in SYF. Bogart Wealth LLC purchased a new position in shares of Synchrony Financial in the 4th quarter worth about $26,000. TCTC Holdings LLC purchased a new position in Synchrony Financial in the fourth quarter worth about $27,000. Y.D. More Investments Ltd raised its holdings in 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 buying an additional 253 shares during the last quarter. Raleigh Capital Management Inc. lifted its stake 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 worth $52,000 after buying an additional 486 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Synchrony Financial by 46.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 810 shares of the financial services provider’s stock valued at $53,000 after buying an additional 257 shares during the last quarter. 96.48% of the stock is owned by institutional investors.

Synchrony Financial Price Performance

NYSE SYF opened at $55.11 on Thursday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.24 and a current ratio of 1.24. The business’s fifty day moving average is $60.22 and its 200 day moving average is $60.67. The company has a market capitalization of $21.42 billion, a PE ratio of 6.45, a price-to-earnings-growth ratio of 0.71 and a beta of 1.67. Synchrony Financial has a fifty-two week low of $39.67 and a fifty-two week high of $70.93.

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

Synchrony Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 3rd were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date was Monday, February 3rd. Synchrony Financial’s dividend payout ratio (DPR) is 11.71%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. StockNews.com lowered shares of Synchrony Financial from a “buy” rating to a “hold” rating in a report on Monday, March 24th. Truist Financial decreased their price target on Synchrony Financial from $77.00 to $65.00 and set a “hold” rating for the company in a research note on Friday, March 21st. Keefe, Bruyette & Woods upped their price target on Synchrony Financial from $62.00 to $82.00 and gave the company an “outperform” rating in a report on Monday, December 9th. UBS Group lifted their price objective on Synchrony Financial from $58.00 to $66.00 and gave the stock a “neutral” rating in a report on Monday, January 13th. Finally, Compass Point cut shares of Synchrony Financial from a “buy” rating to a “neutral” rating and set a $70.00 target price on the stock. in a research note on Tuesday, January 28th. Seven equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $68.10.

Synchrony Financial 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.