Synchrony Financial (NYSE:SYF) Sees Significant Growth in Short Interest

Synchrony Financial (NYSE:SYF) saw a large increase in short interest in the month of February. As of February 28th, there was short interest totalling 14,540,000 shares, an increase of 16.8% from the February 13th total of 12,450,000 shares. Approximately 3.8% of the shares of the company are short sold. Based on an average daily trading volume, of 3,800,000 shares, the short-interest ratio is currently 3.8 days.

Synchrony Financial Trading Up 0.3 %

NYSE SYF traded up $0.15 on Thursday, reaching $54.67. The company had a trading volume of 662,728 shares, compared to its average volume of 3,644,415. Synchrony Financial has a 52 week low of $39.67 and a 52 week high of $70.93. The stock’s 50 day moving average is $62.85 and its 200-day moving average is $60.22. The stock has a market cap of $21.25 billion, a price-to-earnings ratio of 6.40, a PEG ratio of 0.71 and a beta of 1.67. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.01.

Synchrony Financial (NYSE:SYF) last announced its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.02. Synchrony Financial had a return on equity of 18.30% and a net margin of 15.36%. Equities analysts predict that Synchrony Financial will post 7.67 earnings per share for the current year.

Synchrony Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders 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 annualized dividend and a dividend yield of 1.83%. Synchrony Financial’s dividend payout ratio (DPR) is currently 11.71%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Bogart Wealth LLC acquired a new position in shares of Synchrony Financial during the fourth quarter worth about $26,000. TCTC Holdings LLC acquired a new position in shares of Synchrony Financial during the fourth quarter worth about $27,000. Y.D. More Investments Ltd boosted its position in shares of Synchrony Financial by 111.5% during the fourth quarter. Y.D. More Investments Ltd now owns 480 shares of the financial services provider’s stock worth $31,000 after buying an additional 253 shares during the period. Accredited Wealth Management LLC acquired a new position in shares of Synchrony Financial during the fourth quarter worth about $38,000. Finally, Larson Financial Group LLC boosted its position in shares of Synchrony Financial by 92.7% during the third quarter. Larson Financial Group LLC now owns 607 shares of the financial services provider’s stock worth $30,000 after buying an additional 292 shares during the period. 96.48% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have commented on SYF shares. The Goldman Sachs Group dropped their price target on Synchrony Financial from $82.00 to $70.00 and set a “buy” rating on the stock in a research report on Tuesday. Bank of America lifted their price target on Synchrony Financial from $82.00 to $85.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. Barclays raised Synchrony Financial from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $59.00 to $79.00 in a research report on Monday, January 6th. Royal Bank of Canada boosted their price objective on Synchrony Financial from $70.00 to $73.00 and gave the company a “sector perform” rating in a research report on Wednesday, January 29th. Finally, Compass Point cut Synchrony Financial from a “buy” rating to a “neutral” rating and set a $70.00 price objective on the stock. in a research report on Tuesday, January 28th. Six investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $68.70.

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.