Bridgefront Capital LLC Purchases Shares of 17,627 Synchrony Financial (NYSE:SYF)

Bridgefront Capital LLC bought a new position in shares of Synchrony Financial (NYSE:SYF - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 17,627 shares of the financial services provider's stock, valued at approximately $1,146,000.

A number of other hedge funds have also recently made changes to their positions in SYF. Bogart Wealth LLC purchased a new position in shares of Synchrony Financial in the fourth quarter worth $26,000. TCTC Holdings LLC bought a new position in shares of Synchrony Financial during the fourth quarter valued at approximately $27,000. Y.D. More Investments Ltd grew its stake in shares of Synchrony Financial by 111.5% in the fourth quarter. Y.D. More Investments Ltd now owns 480 shares of the financial services provider's stock worth $31,000 after acquiring an additional 253 shares during the last quarter. Accredited Wealth Management LLC bought a new stake in Synchrony Financial during the 4th quarter valued at about $38,000. Finally, Raleigh Capital Management Inc. raised its holdings in Synchrony Financial by 151.4% in the 4th quarter. Raleigh Capital Management Inc. now owns 807 shares of the financial services provider's stock worth $52,000 after acquiring an additional 486 shares during the last quarter. 96.48% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on SYF shares. Cfra Research upgraded shares of Synchrony Financial to a "hold" rating in a research report on Tuesday, April 22nd. The Goldman Sachs Group lowered their price objective on Synchrony Financial from $82.00 to $70.00 and set a "buy" rating on the stock in a research report on Tuesday, March 18th. UBS Group increased their target price on shares of Synchrony Financial from $58.00 to $66.00 and gave the stock a "neutral" rating in a report on Monday, January 13th. StockNews.com lowered shares of Synchrony Financial from a "buy" rating to a "hold" rating in a research report on Monday, March 24th. Finally, Bank of America raised their price objective on shares of Synchrony Financial from $82.00 to $85.00 and gave the company a "buy" rating in a research report on Tuesday, January 28th. Nine investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Synchrony Financial has an average rating of "Moderate Buy" and an average price target of $63.95.

Synchrony Financial Trading Up 0.7 %

Shares of NYSE:SYF traded up $0.38 during trading on Wednesday, hitting $53.78. The company had a trading volume of 3,297,528 shares, compared to its average volume of 3,940,068. The stock has a market cap of $20.47 billion, a price-to-earnings ratio of 6.30, a price-to-earnings-growth ratio of 0.71 and a beta of 1.42. 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 company has a fifty day simple moving average of $51.45 and a two-hundred day simple moving average of $60.17. Synchrony Financial has a one year low of $40.55 and a one year high of $70.93.

Synchrony Financial (NYSE:SYF - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $1.89 earnings per share for the quarter, beating analysts' consensus estimates of $1.63 by $0.26. Synchrony Financial had a net margin of 15.36% and a return on equity of 18.30%. The business had revenue of $3.72 billion for the quarter, compared to analysts' expectations of $3.80 billion. As a group, equities analysts forecast that Synchrony Financial will post 7.67 earnings per share for the current year.

Synchrony Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Monday, May 5th will be issued a $0.30 dividend. The ex-dividend date is Monday, May 5th. This is an increase from Synchrony Financial's previous quarterly dividend of $0.25. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.23%. Synchrony Financial's dividend payout ratio (DPR) is currently 16.46%.

About Synchrony Financial

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.