Hsbc Holdings PLC Lowers Holdings in Synchrony Financial (NYSE:SYF)

Hsbc Holdings PLC lowered its stake in shares of Synchrony Financial (NYSE:SYF - Free Report) by 1.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 3,052,160 shares of the financial services provider's stock after selling 37,784 shares during the period. Hsbc Holdings PLC owned approximately 0.78% of Synchrony Financial worth $198,445,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SYF. Bogart Wealth LLC bought a new stake in Synchrony Financial in the 4th quarter worth about $26,000. TCTC Holdings LLC purchased a new stake in shares of Synchrony Financial during the fourth quarter valued at approximately $27,000. Y.D. More Investments Ltd lifted its holdings in Synchrony Financial by 111.5% during 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 period. Raleigh Capital Management Inc. grew its stake 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 valued at $52,000 after purchasing an additional 486 shares during the period. Finally, EverSource Wealth Advisors LLC increased its position in shares of Synchrony Financial by 46.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 810 shares of the financial services provider's stock valued at $53,000 after purchasing an additional 257 shares during the last quarter. 96.48% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on SYF shares. Cfra Research raised shares of Synchrony Financial to a "hold" rating in a report on Tuesday, April 22nd. Evercore ISI lowered their price objective on Synchrony Financial from $64.00 to $56.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 23rd. Barclays upgraded Synchrony Financial from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $59.00 to $79.00 in a research report on Monday, January 6th. Truist Financial reduced their target price on shares of Synchrony Financial from $65.00 to $57.00 and set a "hold" rating on the stock in a report on Friday. Finally, The Goldman Sachs Group lowered their price objective on Synchrony Financial from $82.00 to $70.00 and set a "buy" rating for the company in a research report on Tuesday, March 18th. Nine research 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 company's stock. Based on data from MarketBeat, Synchrony Financial presently has a consensus rating of "Moderate Buy" and an average price target of $63.95.

Synchrony Financial Stock Up 0.6 %

SYF stock traded up $0.31 on Monday, reaching $51.73. 1,246,800 shares of the company traded hands, compared to its average volume of 3,942,047. 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 firm has a fifty day simple moving average of $52.76 and a 200-day simple moving average of $60.35. Synchrony Financial has a one year low of $40.55 and a one year high of $70.93. The company has a market cap of $20.11 billion, a P/E ratio of 6.06, a price-to-earnings-growth ratio of 0.71 and a beta of 1.45.

Synchrony Financial (NYSE:SYF - Get Free Report) last posted its quarterly earnings results 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 firm had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.80 billion. Synchrony Financial had a return on equity of 18.30% and a net margin of 15.36%. Research analysts anticipate that Synchrony Financial will post 7.67 earnings per share for the current year.

Synchrony Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Monday, May 5th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Monday, May 5th. This is an increase from Synchrony Financial's previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a yield of 2.32%. Synchrony Financial's payout ratio is 16.46%.

Synchrony Financial 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.