Farther Finance Advisors LLC Raises Stock Position in Synchrony Financial (NYSE:SYF)

Farther Finance Advisors LLC boosted its holdings in shares of Synchrony Financial (NYSE:SYF - Free Report) by 674.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,551 shares of the financial services provider's stock after purchasing an additional 11,802 shares during the period. Farther Finance Advisors LLC's holdings in Synchrony Financial were worth $881,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. EverSource Wealth Advisors LLC increased its holdings in Synchrony Financial by 46.5% during 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 during the period. Sequoia Financial Advisors LLC increased its holdings in Synchrony Financial by 19.9% during the 4th quarter. Sequoia Financial Advisors LLC now owns 7,432 shares of the financial services provider's stock valued at $483,000 after purchasing an additional 1,234 shares during the period. Citizens Financial Group Inc. RI grew its holdings in shares of Synchrony Financial by 6.5% during the 4th quarter. Citizens Financial Group Inc. RI now owns 4,624 shares of the financial services provider's stock worth $301,000 after acquiring an additional 282 shares during the period. Sage Mountain Advisors LLC purchased a new position in shares of Synchrony Financial during the 4th quarter worth approximately $231,000. Finally, Vista Investment Partners II LLC purchased a new position in shares of Synchrony Financial during the 4th quarter worth approximately $3,356,000. Hedge funds and other institutional investors own 96.48% of the company's stock.

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Wall Street Analysts Forecast Growth

SYF has been the topic of a number of research analyst reports. Truist Financial upped their target price on Synchrony Financial from $72.00 to $77.00 and gave the stock a "hold" rating in a report on Thursday, January 30th. Morgan Stanley upgraded Synchrony Financial from an "underweight" rating to an "overweight" rating and upped their target price for the stock from $40.00 to $82.00 in a report on Thursday, December 19th. Bank of America upped their price target on Synchrony Financial from $82.00 to $85.00 and gave the stock a "buy" rating in a research note on Tuesday, January 28th. UBS Group upped their price target on Synchrony Financial from $58.00 to $66.00 and gave the stock a "neutral" rating in a research note on Monday, January 13th. Finally, Barclays upgraded Synchrony Financial from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $59.00 to $79.00 in a research note on Monday, January 6th. Six analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Synchrony Financial has a consensus rating of "Moderate Buy" and an average target price of $68.70.

Synchrony Financial Stock Performance

Shares of NYSE SYF traded up $1.41 during midday trading on Wednesday, hitting $54.46. 4,927,687 shares of the stock traded hands, compared to its average volume of 4,258,357. Synchrony Financial has a one year low of $39.67 and a one year high of $70.93. The firm has a 50-day moving average of $63.07 and a two-hundred day moving average of $60.26. The firm has a market capitalization of $21.17 billion, a P/E ratio of 6.38, a PEG ratio of 0.71 and a beta of 1.67. 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 (NYSE:SYF - Get Free Report) last announced its earnings results on Tuesday, January 28th. The financial services provider reported $1.91 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%. On average, equities analysts forecast that Synchrony Financial will post 7.67 EPS for the current fiscal year.

Synchrony Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 3rd were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $1.00 dividend on an annualized basis and a yield of 1.84%. Synchrony Financial's dividend payout ratio is currently 11.71%.

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.