Perkins Coie Trust Co Raises Holdings in Synchrony Financial (NYSE:SYF)

Perkins Coie Trust Co boosted its stake in Synchrony Financial (NYSE:SYF) by 12.0% in the 1st quarter, Holdings Channel reports. The firm owned 2,800 shares of the financial services provider’s stock after buying an additional 300 shares during the quarter. Perkins Coie Trust Co’s holdings in Synchrony Financial were worth $148,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Bogart Wealth LLC acquired a new stake in Synchrony Financial in the 4th quarter valued at $26,000. TCTC Holdings LLC acquired a new stake in Synchrony Financial in the 4th quarter valued at $27,000. Y.D. More Investments Ltd increased its holdings in 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 valued at $31,000 after purchasing an additional 253 shares in the last quarter. Accredited Wealth Management LLC acquired a new stake in Synchrony Financial in the 4th quarter valued at $38,000. Finally, EverSource Wealth Advisors LLC increased its holdings in Synchrony Financial by 46.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 810 shares of the financial services provider’s stock valued at $53,000 after purchasing an additional 257 shares in the last quarter. 96.48% of the stock is currently owned by institutional investors and hedge funds.

Synchrony Financial Stock Performance

Shares of SYF stock opened at $59.29 on Friday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.24 and a current ratio of 1.24. Synchrony Financial has a one year low of $40.55 and a one year high of $70.93. The company’s 50-day simple moving average is $53.42 and its 200-day simple moving average is $59.97. The stock has a market capitalization of $22.57 billion, a price-to-earnings ratio of 6.94, a PEG ratio of 0.71 and a beta of 1.44.

Synchrony Financial (NYSE:SYF) last issued its earnings results 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 company had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.80 billion. Equities analysts anticipate that Synchrony Financial will post 7.67 earnings per share for the current fiscal year.

Synchrony Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 5th were paid a $0.30 dividend. This is an increase from Synchrony Financial’s previous quarterly dividend of $0.25. This represents a $1.20 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date of this dividend was Monday, May 5th. Synchrony Financial’s payout ratio is presently 16.46%.

Insider Buying and Selling at Synchrony Financial

In other Synchrony Financial news, insider Jonathan S. Mothner sold 40,639 shares of Synchrony Financial stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $60.07, for a total value of $2,441,184.73. Following the completion of the transaction, the insider now directly owns 146,628 shares in the company, valued at $8,807,943.96. The trade was a 21.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.32% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

SYF has been the subject of several recent research reports. Wells Fargo & Company lowered their price target on Synchrony Financial from $70.00 to $65.00 and set an “overweight” rating for the company in a report on Wednesday, April 23rd. JPMorgan Chase & Co. lowered their target price on Synchrony Financial from $76.00 to $50.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Morgan Stanley restated an “equal weight” rating and set a $44.00 target price (down from $82.00) on shares of Synchrony Financial in a research note on Monday, April 7th. Truist Financial lowered their target price on Synchrony Financial from $65.00 to $57.00 and set a “hold” rating for the company in a research note on Friday, April 25th. Finally, The Goldman Sachs Group lowered their target price on Synchrony Financial from $82.00 to $70.00 and set a “buy” rating for the company in a research note on Tuesday, March 18th. Eight equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $63.95.

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.