Sierra Summit Advisors LLC Acquires New Holdings in Synchrony Financial (NYSE:SYF)

Sierra Summit Advisors LLC acquired a new position in shares of Synchrony Financial (NYSE:SYF - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 8,639 shares of the financial services provider's stock, valued at approximately $562,000.

Several other hedge funds also recently modified their holdings of SYF. Holocene Advisors LP acquired a new position in shares of Synchrony Financial during the third quarter valued at about $552,000. Quarry LP increased its position in Synchrony Financial by 301.3% in the 3rd quarter. Quarry LP now owns 899 shares of the financial services provider's stock valued at $45,000 after buying an additional 675 shares in the last quarter. Stifel Financial Corp raised its stake in Synchrony Financial by 22.8% during the 3rd quarter. Stifel Financial Corp now owns 109,841 shares of the financial services provider's stock worth $5,479,000 after buying an additional 20,410 shares during the period. Weiss Asset Management LP bought a new position in Synchrony Financial in the third quarter worth approximately $1,428,000. Finally, Kovitz Investment Group Partners LLC grew its stake in Synchrony Financial by 1.7% in the third quarter. Kovitz Investment Group Partners LLC now owns 59,719 shares of the financial services provider's stock valued at $2,979,000 after acquiring an additional 1,009 shares during the period. Institutional investors own 96.48% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on SYF shares. The Goldman Sachs Group decreased their price target on shares of Synchrony Financial from $82.00 to $70.00 and set a "buy" rating for the company in a research note on Tuesday, March 18th. Barclays raised Synchrony Financial from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $59.00 to $79.00 in a report on Monday, January 6th. Wells Fargo & Company cut their target price on Synchrony Financial from $85.00 to $70.00 and set an "overweight" rating on the stock in a research report on Thursday, April 3rd. UBS Group increased their price target on Synchrony Financial from $58.00 to $66.00 and gave the company a "neutral" rating in a research report on Monday, January 13th. Finally, Compass Point downgraded shares of Synchrony Financial from a "buy" rating to a "neutral" rating and set a $70.00 price objective on the stock. in a report on Tuesday, January 28th. Eight analysts have rated the stock with a hold rating, twelve 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 presently has an average rating of "Moderate Buy" and an average price target of $65.11.

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Synchrony Financial Stock Performance

Shares of SYF stock traded down $0.53 on Friday, hitting $46.10. 6,550,656 shares of the stock were exchanged, compared to its average volume of 3,960,140. The firm's 50 day moving average is $56.20 and its two-hundred day moving average is $60.41. Synchrony Financial has a one year low of $39.67 and a one year high of $70.93. The firm has a market capitalization of $17.92 billion, a PE ratio of 5.40, a P/E/G ratio of 0.71 and a beta of 1.45. 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 - Get Free Report) last posted its 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%. Sell-side analysts expect that Synchrony Financial will post 7.67 earnings per share for the current fiscal year.

Synchrony Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd were given a dividend of $0.25 per share. The ex-dividend date was Monday, February 3rd. This represents a $1.00 annualized dividend and a dividend yield of 2.17%. Synchrony Financial's dividend payout ratio is currently 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.