City National Bank of Florida MSD Invests $705,000 in Synchrony Financial (NYSE:SYF)

City National Bank of Florida MSD acquired a new stake in Synchrony Financial (NYSE:SYF - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 10,846 shares of the financial services provider's stock, valued at approximately $705,000. Synchrony Financial accounts for 0.6% of City National Bank of Florida MSD's investment portfolio, making the stock its 28th largest holding.

A number of other institutional investors and hedge funds have also modified their holdings of SYF. Bogart Wealth LLC acquired a new stake in shares of Synchrony Financial during the 4th quarter worth about $26,000. TCTC Holdings LLC purchased a new position in Synchrony Financial in the fourth quarter valued at about $27,000. Y.D. More Investments Ltd grew its position in 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 valued at $31,000 after acquiring an additional 253 shares in the last quarter. Accredited Wealth Management LLC purchased a new stake in Synchrony Financial during the 4th quarter worth $38,000. Finally, Raleigh Capital Management Inc. lifted its stake in shares of Synchrony Financial by 151.4% in the fourth 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 in the last quarter. Institutional investors and hedge funds own 96.48% of the company's stock.

Synchrony Financial Price Performance

Shares of Synchrony Financial stock opened at $57.32 on Thursday. The firm has a market capitalization of $21.82 billion, a PE ratio of 6.71, 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 has a 12 month low of $40.55 and a 12 month high of $70.93. The business's 50-day moving average price is $52.46 and its 200-day moving average price is $60.42.

Synchrony Financial (NYSE:SYF - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $1.89 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 firm had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.80 billion. Sell-side analysts forecast that Synchrony Financial will post 7.67 EPS for the current fiscal 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 issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.09%. This is an increase from Synchrony Financial's previous quarterly dividend of $0.25. The ex-dividend date was Monday, May 5th. Synchrony Financial's payout ratio is 16.46%.

Insider Transactions at Synchrony Financial

In other news, insider Jonathan S. Mothner sold 40,639 shares of the business's stock in a transaction on Monday, May 19th. The stock was sold at an average price of $60.07, for a total value of $2,441,184.73. Following the completion of the transaction, the insider now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.32% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on SYF. Cfra Research upgraded Synchrony Financial to a "hold" rating in a research report on Tuesday, April 22nd. The Goldman Sachs Group lowered their price objective on shares of Synchrony Financial from $82.00 to $70.00 and set a "buy" rating on the stock in a research note on Tuesday, March 18th. Truist Financial cut their price target 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. StockNews.com raised Synchrony Financial from a "hold" rating to a "buy" rating in a research report on Tuesday. Finally, Morgan Stanley reissued an "equal weight" rating and set a $44.00 target price (down from $82.00) on shares of Synchrony Financial in a research note on Monday, April 7th. Eight analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price 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.

Want to see what other hedge funds are holding SYF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Synchrony Financial (NYSE:SYF - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.