EverSource Wealth Advisors LLC Acquires 257 Shares of Synchrony Financial (NYSE:SYF)

EverSource Wealth Advisors LLC raised its holdings in Synchrony Financial (NYSE:SYF) by 46.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 810 shares of the financial services provider’s stock after purchasing an additional 257 shares during the period. EverSource Wealth Advisors LLC’s holdings in Synchrony Financial were worth $53,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. New Wave Wealth Advisors LLC bought a new position in Synchrony Financial in the fourth quarter valued at approximately $452,000. National Bank of Canada FI boosted its stake in Synchrony Financial by 119.0% in the third quarter. National Bank of Canada FI now owns 243,040 shares of the financial services provider’s stock valued at $12,123,000 after acquiring an additional 132,047 shares during the last quarter. Asset Management One Co. Ltd. boosted its stake in Synchrony Financial by 7.5% in the fourth quarter. Asset Management One Co. Ltd. now owns 178,811 shares of the financial services provider’s stock valued at $11,787,000 after acquiring an additional 12,492 shares during the last quarter. Brophy Wealth Management LLC bought a new position in Synchrony Financial in the third quarter valued at approximately $544,000. Finally, Summit Trail Advisors LLC bought a new position in shares of Synchrony Financial during the fourth quarter worth $423,000. 96.48% of the stock is owned by institutional investors.

Synchrony Financial Trading Up 2.7 %

Shares of NYSE:SYF opened at $54.46 on Thursday. The company’s 50-day moving average price is $62.85 and its two-hundred day moving average price is $60.22. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.24 and a quick ratio of 1.24. Synchrony Financial has a one year low of $39.67 and a one year high of $70.93. The stock has a market capitalization of $21.17 billion, a PE ratio of 6.38, a price-to-earnings-growth ratio of 0.71 and a beta of 1.67.

Synchrony Financial (NYSE:SYF) last issued its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $1.91 EPS 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%. On average, equities analysts forecast that Synchrony Financial will post 7.67 EPS for the current fiscal year.

Synchrony Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders 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 dividend yield of 1.84%. Synchrony Financial’s payout ratio is 11.71%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on SYF shares. Truist Financial lifted their price target on shares of Synchrony Financial from $72.00 to $77.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Bank of America lifted their price target on shares of Synchrony Financial from $82.00 to $85.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. UBS Group lifted their price target on shares of Synchrony Financial from $58.00 to $66.00 and gave the stock a “neutral” rating in a research report on Monday, January 13th. Barclays raised shares of 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. Finally, Morgan Stanley raised shares of Synchrony Financial from an “underweight” rating to an “overweight” rating and lifted their price target for the stock from $40.00 to $82.00 in a research report on Thursday, December 19th. 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’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.