Brighton Jones LLC Increases Stake in Synchrony Financial (NYSE:SYF)

Brighton Jones LLC raised its stake in shares of Synchrony Financial (NYSE:SYFGet Rating) by 113.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,606 shares of the financial services provider’s stock after buying an additional 12,527 shares during the quarter. Brighton Jones LLC’s holdings in Synchrony Financial were worth $822,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in SYF. Qube Research & Technologies Ltd grew its holdings in Synchrony Financial by 88.4% during the 4th quarter. Qube Research & Technologies Ltd now owns 294,194 shares of the financial services provider’s stock valued at $13,648,000 after buying an additional 138,064 shares in the last quarter. Baird Financial Group Inc. grew its holdings in shares of Synchrony Financial by 0.9% in the fourth quarter. Baird Financial Group Inc. now owns 25,965 shares of the financial services provider’s stock valued at $1,205,000 after purchasing an additional 235 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Synchrony Financial in the fourth quarter valued at $721,000. Skandinaviska Enskilda Banken AB publ grew its holdings in shares of Synchrony Financial by 1.2% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 88,996 shares of the financial services provider’s stock valued at $4,117,000 after purchasing an additional 1,021 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC purchased a new position in shares of Synchrony Financial in the fourth quarter valued at $234,000. 94.12% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on SYF shares. Barclays cut their target price on shares of Synchrony Financial from $64.00 to $49.00 and set an “overweight” rating for the company in a report on Monday, July 11th. Stephens raised their target price on shares of Synchrony Financial from $29.00 to $35.00 and gave the company an “equal weight” rating in a report on Tuesday, July 19th. Credit Suisse Group raised their target price on shares of Synchrony Financial from $46.00 to $47.00 and gave the company an “outperform” rating in a report on Tuesday, July 19th. JMP Securities cut their target price on shares of Synchrony Financial from $50.00 to $40.00 and set a “market outperform” rating for the company in a report on Friday, July 15th. Finally, Piper Sandler set a $41.00 target price on shares of Synchrony Financial in a report on Tuesday, July 19th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Synchrony Financial currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.88.

Synchrony Financial Stock Up 2.0 %

NYSE:SYF opened at $32.60 on Friday. Synchrony Financial has a twelve month low of $27.22 and a twelve month high of $52.49. The company has a market cap of $15.71 billion, a price-to-earnings ratio of 4.76, a price-to-earnings-growth ratio of 0.24 and a beta of 1.56. The stock has a fifty day simple moving average of $32.67 and a 200-day simple moving average of $34.59. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.96.

Synchrony Financial (NYSE:SYFGet Rating) last released its earnings results on Monday, July 18th. The financial services provider reported $1.60 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.17. Synchrony Financial had a return on equity of 27.06% and a net margin of 22.76%. The business had revenue of $3.80 billion during the quarter, compared to the consensus estimate of $2.74 billion. During the same period last year, the company earned $2.12 earnings per share. Analysts anticipate that Synchrony Financial will post 5.79 EPS for the current year.

Synchrony Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 11th. Stockholders of record on Monday, August 1st were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.82%. This is an increase from Synchrony Financial’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Friday, July 29th. Synchrony Financial’s dividend payout ratio (DPR) is 13.43%.

Synchrony Financial Company Profile

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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 cards, 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 to retail and commercial customers, as well as accepts deposits through third-party securities brokerage firms.

Further Reading

Institutional Ownership by Quarter for Synchrony Financial (NYSE:SYF)

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