Synchrony Financial (NYSE:SYF) Shares Purchased by Cwm LLC

Posted by Defense World Staff on Jul 28th, 2023

Cwm LLC raised its holdings in shares of Synchrony Financial (NYSE:SYF – Free Report) by 7.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,448 shares of the financial services provider’s stock after buying an additional 557 shares during the period. Cwm LLC’s holdings in Synchrony Financial were worth $246,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SYF. Live Oak Investment Partners acquired a new position in Synchrony Financial during the fourth quarter valued at approximately $27,000. TCI Wealth Advisors Inc. lifted its position in shares of Synchrony Financial by 41.9% during the fourth quarter. TCI Wealth Advisors Inc. now owns 935 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 276 shares in the last quarter. Ameritas Advisory Services LLC acquired a new position in shares of Synchrony Financial during the first quarter worth $39,000. Covestor Ltd lifted its position in shares of Synchrony Financial by 138.8% during the first quarter. Covestor Ltd now owns 1,108 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 644 shares in the last quarter. Finally, Zions Bancorporation N.A. lifted its position in shares of Synchrony Financial by 230.5% during the first quarter. Zions Bancorporation N.A. now owns 1,226 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 855 shares in the last quarter. 92.50% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently commented on SYF. Wells Fargo & Company reduced their target price on shares of Synchrony Financial from $37.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Friday, March 31st. BMO Capital Markets reduced their price objective on shares of Synchrony Financial from $53.00 to $51.00 and set an “outperform” rating on the stock in a research note on Thursday, April 20th. Citigroup reduced their price objective on shares of Synchrony Financial from $44.00 to $43.00 in a research note on Friday, June 2nd. StockNews.com upgraded shares of Synchrony Financial from a “hold” rating to a “buy” rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Synchrony Financial from $37.00 to $30.00 and set a “neutral” rating on the stock in a research note on Monday, April 17th. One analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $37.00.

Synchrony Financial Stock Down 0.4 %

SYF stock opened at $34.74 on Friday. The company has a quick ratio of 1.22, a current ratio of 1.20 and a debt-to-equity ratio of 1.13. Synchrony Financial has a fifty-two week low of $26.59 and a fifty-two week high of $40.88. The firm’s 50-day simple moving average is $33.38 and its 200 day simple moving average is $32.42. The stock has a market cap of $14.53 billion, a PE ratio of 6.43, a price-to-earnings-growth ratio of 1.60 and a beta of 1.57.

Synchrony Financial (NYSE:SYF – Get Free Report) last released its quarterly earnings data on Tuesday, July 18th. The financial services provider reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.07. Synchrony Financial had a net margin of 12.90% and a return on equity of 19.79%. The business had revenue of $5.08 billion for the quarter, compared to analysts’ expectations of $4.10 billion. During the same quarter last year, the company earned $1.60 EPS. As a group, sell-side analysts predict that Synchrony Financial will post 4.91 EPS for the current year.

Synchrony Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 10th. Shareholders of record on Monday, July 31st will be paid a dividend of $0.25 per share. This is a boost from Synchrony Financial’s previous quarterly dividend of $0.23. The ex-dividend date is Friday, July 28th. This represents a $1.00 annualized dividend and a yield of 2.88%. Synchrony Financial’s dividend payout ratio (DPR) is presently 17.04%.

Synchrony Financial declared that its board has approved a stock buyback plan on Tuesday, April 25th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 8% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

About Synchrony Financial

(Free Report)

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.