Verdence Capital Advisors LLC Buys 1,114 Shares of Synchrony Financial (NYSE:SYF)

Verdence Capital Advisors LLC lifted its stake in shares of Synchrony Financial (NYSE:SYFFree Report) by 4.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,044 shares of the financial services provider’s stock after acquiring an additional 1,114 shares during the period. Verdence Capital Advisors LLC’s holdings in Synchrony Financial were worth $1,071,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Live Oak Investment Partners bought a new stake in shares of Synchrony Financial during the fourth quarter worth $27,000. Exchange Traded Concepts LLC bought a new stake in shares of Synchrony Financial during the third quarter worth $35,000. Covestor Ltd increased its position in shares of Synchrony Financial by 138.8% during the first quarter. Covestor Ltd now owns 1,108 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 644 shares in the last quarter. Zions Bancorporation N.A. increased its position in shares of Synchrony Financial by 230.5% during the first quarter. Zions Bancorporation N.A. now owns 1,226 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 855 shares in the last quarter. Finally, Parkside Financial Bank & Trust increased its position in shares of Synchrony Financial by 76.2% during the first quarter. Parkside Financial Bank & Trust now owns 1,325 shares of the financial services provider’s stock worth $46,000 after acquiring an additional 573 shares in the last quarter. Institutional investors own 96.48% of the company’s stock.

Synchrony Financial Stock Performance

NYSE SYF opened at $41.57 on Monday. The firm has a 50-day moving average of $41.22 and a 200-day moving average of $36.45. The company has a debt-to-equity ratio of 1.21, a quick ratio of 1.22 and a current ratio of 1.22. The stock has a market cap of $16.91 billion, a PE ratio of 8.03, a P/E/G ratio of 1.03 and a beta of 1.61. Synchrony Financial has a 52-week low of $26.59 and a 52-week high of $43.83.

Synchrony Financial (NYSE:SYFGet Free Report) last posted its earnings results on Tuesday, January 23rd. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.10. The company had revenue of $5.55 billion during the quarter, compared to analysts’ expectations of $4.45 billion. Synchrony Financial had a net margin of 10.68% and a return on equity of 17.37%. During the same quarter last year, the company posted $1.26 EPS. On average, sell-side analysts anticipate that Synchrony Financial will post 5.54 EPS for the current year.

Synchrony Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Monday, February 5th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date of this dividend was Friday, February 2nd. Synchrony Financial’s dividend payout ratio is 19.31%.

Insider Buying and Selling

In related news, insider Curtis Howse sold 6,179 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $42.82, for a total transaction of $264,584.78. Following the transaction, the insider now directly owns 152,604 shares of the company’s stock, valued at $6,534,503.28. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Synchrony Financial news, insider Curtis Howse sold 6,179 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $42.82, for a total value of $264,584.78. Following the transaction, the insider now directly owns 152,604 shares of the company’s stock, valued at approximately $6,534,503.28. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Brian D. Doubles sold 134,696 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $41.26, for a total transaction of $5,557,556.96. Following the completion of the transaction, the insider now directly owns 660,353 shares in the company, valued at $27,246,164.78. The disclosure for this sale can be found here. Over the last three months, insiders have sold 148,158 shares of company stock valued at $6,106,106. 0.65% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on SYF shares. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Synchrony Financial in a research report on Wednesday, January 10th. They set a “buy” rating and a $56.00 price objective for the company. Wolfe Research upgraded shares of Synchrony Financial from an “underperform” rating to an “outperform” rating and increased their target price for the stock from $36.00 to $50.00 in a report on Thursday, April 4th. Oppenheimer restated a “market perform” rating on shares of Synchrony Financial in a report on Wednesday, March 6th. Wells Fargo & Company increased their target price on shares of Synchrony Financial from $38.00 to $45.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 10th. Finally, Piper Sandler increased their target price on shares of Synchrony Financial from $46.00 to $48.00 and gave the stock an “overweight” rating in a report on Wednesday, January 24th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $41.44.

Read Our Latest Stock Analysis on SYF

Synchrony Financial Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Synchrony Financial (NYSE:SYF)

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