CoreCap Advisors LLC Grows Stake in Synchrony Financial (NYSE:SYF)

CoreCap Advisors LLC boosted its stake in Synchrony Financial (NYSE:SYF - Free Report) by 602.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,388 shares of the financial services provider's stock after purchasing an additional 4,621 shares during the period. CoreCap Advisors LLC's holdings in Synchrony Financial were worth $350,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its holdings in shares of Synchrony Financial by 2.2% in the third quarter. Principal Financial Group Inc. now owns 487,720 shares of the financial services provider's stock worth $24,327,000 after buying an additional 10,294 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in Synchrony Financial by 1.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 20,208 shares of the financial services provider's stock worth $1,314,000 after acquiring an additional 213 shares during the period. Czech National Bank boosted its stake in shares of Synchrony Financial by 4.9% during the 4th quarter. Czech National Bank now owns 84,418 shares of the financial services provider's stock worth $5,487,000 after acquiring an additional 3,907 shares during the last quarter. Wedmont Private Capital grew its position in shares of Synchrony Financial by 2.6% during the 4th quarter. Wedmont Private Capital now owns 7,700 shares of the financial services provider's stock valued at $491,000 after acquiring an additional 192 shares during the period. Finally, Friedenthal Financial bought a new stake in shares of Synchrony Financial during the 4th quarter valued at $833,000. 96.48% of the stock is currently owned by hedge funds and other institutional investors.

Synchrony Financial Price Performance

Shares of NYSE:SYF traded up $1.03 during mid-day trading on Tuesday, reaching $61.39. The stock had a trading volume of 4,146,763 shares, compared to its average volume of 3,949,542. The business's 50 day moving average price is $51.49 and its 200 day moving average price is $60.28. Synchrony Financial has a 1 year low of $40.55 and a 1 year high of $70.93. The company has a market cap of $23.37 billion, a P/E ratio of 7.19, a price-to-earnings-growth ratio of 0.71 and a beta of 1.42. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.01.

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

Synchrony Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Monday, May 5th will be paid a dividend of $0.30 per share. This is an increase from Synchrony Financial's previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Monday, May 5th. This represents a $1.20 dividend on an annualized basis and a yield of 1.95%. Synchrony Financial's dividend payout ratio is presently 16.46%.

Analyst Ratings Changes

Several research firms recently weighed in on SYF. Wells Fargo & Company lowered their target price on Synchrony Financial from $70.00 to $65.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. The Goldman Sachs Group cut their price objective on Synchrony Financial from $82.00 to $70.00 and set a "buy" rating for the company in a research note on Tuesday, March 18th. Truist Financial decreased their target price on shares of Synchrony Financial from $65.00 to $57.00 and set a "hold" rating on the stock in a research note on Friday, April 25th. Evercore ISI dropped their price target on shares of Synchrony Financial from $64.00 to $56.00 and set an "outperform" rating for the company in a research report on Wednesday, April 23rd. Finally, Bank of America increased their price objective on shares of Synchrony Financial from $82.00 to $85.00 and gave the stock a "buy" rating in a research note on Tuesday, January 28th. Nine analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $63.95.

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.