BTC Capital Management Inc. Boosts Holdings in Synchrony Financial (NYSE:SYF)

BTC Capital Management Inc. grew its position in Synchrony Financial (NYSE:SYF - Free Report) by 25.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 65,835 shares of the financial services provider's stock after purchasing an additional 13,526 shares during the period. BTC Capital Management Inc.'s holdings in Synchrony Financial were worth $3,485,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. New Wave Wealth Advisors LLC purchased a new stake in shares of Synchrony Financial in the fourth quarter valued at about $452,000. Asset Management One Co. Ltd. raised its holdings in shares of 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 purchasing an additional 12,492 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Synchrony Financial in the fourth quarter valued at about $57,000. Summit Trail Advisors LLC purchased a new stake in Synchrony Financial during the fourth quarter worth about $423,000. Finally, NEOS Investment Management LLC increased its holdings in Synchrony Financial by 31.4% during the fourth quarter. NEOS Investment Management LLC now owns 25,622 shares of the financial services provider's stock worth $1,665,000 after buying an additional 6,120 shares during the last quarter. Hedge funds and other institutional investors own 96.48% of the company's stock.

Insider Buying and Selling at Synchrony Financial

In other Synchrony Financial news, insider Jonathan S. Mothner sold 40,639 shares of Synchrony Financial stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $60.07, for a total transaction of $2,441,184.73. Following the completion of the sale, the insider now directly owns 146,628 shares in the company, valued at $8,807,943.96. The trade was a 21.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.32% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

SYF has been the subject of a number of research analyst reports. Evercore ISI decreased their price objective on shares of Synchrony Financial from $64.00 to $56.00 and set an "outperform" rating for the company in a report on Wednesday, April 23rd. Wall Street Zen upgraded shares of Synchrony Financial from a "hold" rating to a "buy" rating in a report on Tuesday, May 20th. JPMorgan Chase & Co. decreased their price objective on shares of Synchrony Financial from $76.00 to $50.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Truist Financial decreased their price objective on shares of Synchrony Financial from $65.00 to $57.00 and set a "hold" rating for the company in a report on Friday, April 25th. Finally, The Goldman Sachs Group decreased their price objective on shares of Synchrony Financial from $82.00 to $70.00 and set a "buy" rating for the company in a report on Tuesday, March 18th. Eight research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $63.95.

Synchrony Financial Price Performance

Shares of SYF stock traded up $0.47 during trading hours on Monday, reaching $58.12. The stock had a trading volume of 2,418,411 shares, compared to its average volume of 3,914,537. The stock's fifty day simple moving average is $52.94 and its 200 day simple moving average is $60.12. 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 has a 12 month low of $40.55 and a 12 month high of $70.93. The firm has a market capitalization of $22.12 billion, a PE ratio of 6.81, a PEG ratio of 0.71 and a beta of 1.42.

Synchrony Financial (NYSE:SYF - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The financial services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $3.80 billion. On average, equities research analysts predict that Synchrony Financial will post 7.67 EPS for the current year.

Synchrony Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 5th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, May 5th. This is a positive change from Synchrony Financial's previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a yield of 2.06%. Synchrony Financial's payout ratio is presently 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.