Norges Bank Purchases New Position in Synchrony Financial (NYSE:SYF)

Norges Bank purchased a new position in shares of Synchrony Financial (NYSE:SYF - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 5,352,355 shares of the financial services provider's stock, valued at approximately $347,903,000. Norges Bank owned 1.37% of Synchrony Financial at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in SYF. Bogart Wealth LLC acquired a new stake in shares of Synchrony Financial in the fourth quarter valued at approximately $26,000. TCTC Holdings LLC acquired a new stake in Synchrony Financial in the 4th quarter valued at approximately $27,000. Y.D. More Investments Ltd increased its position 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 acquiring an additional 253 shares during the period. Larson Financial Group LLC boosted its position in Synchrony Financial by 92.7% during the 3rd quarter. Larson Financial Group LLC now owns 607 shares of the financial services provider's stock worth $30,000 after acquiring an additional 292 shares during the period. Finally, Raleigh Capital Management Inc. grew 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 purchasing an additional 486 shares in the last quarter. Institutional investors own 96.48% of the company's stock.

Synchrony Financial Stock Up 3.3 %

Synchrony Financial stock traded up $1.76 during mid-day trading on Wednesday, hitting $55.02. The company's stock had a trading volume of 2,120,377 shares, compared to its average volume of 3,832,429. Synchrony Financial has a 52-week low of $39.67 and a 52-week high of $70.93. The company has a market cap of $21.39 billion, a PE ratio of 6.44, a price-to-earnings-growth ratio of 0.71 and a beta of 1.67. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.24 and a quick ratio of 1.24. The firm's 50 day moving average is $60.53 and its 200 day moving average is $60.71.

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Synchrony Financial (NYSE:SYF - Get Free Report) last posted its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $1.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.89 by $0.02. Synchrony Financial had a net margin of 15.36% and a return on equity of 18.30%. On average, analysts anticipate that Synchrony Financial will post 7.67 earnings per share for the current year.

Synchrony Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 3rd were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.82%. The ex-dividend date was Monday, February 3rd. Synchrony Financial's dividend payout ratio is currently 11.71%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on SYF shares. Keefe, Bruyette & Woods upped their price objective on shares of Synchrony Financial from $62.00 to $82.00 and gave the stock an "outperform" rating in a report on Monday, December 9th. StockNews.com lowered shares of Synchrony Financial from a "buy" rating to a "hold" rating in a research note on Monday, March 24th. JPMorgan Chase & Co. upgraded shares of Synchrony Financial from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $59.00 to $72.00 in a research note on Monday, December 9th. Barclays upgraded Synchrony Financial from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $59.00 to $79.00 in a research report on Monday, January 6th. Finally, UBS Group boosted their price objective on Synchrony Financial from $58.00 to $66.00 and gave the stock a "neutral" rating in a research note on Monday, January 13th. Seven investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $68.10.

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.