Meitav Dash Investments Ltd. lowered its position in Synchrony Financial (NYSE:SYF – Get Rating) by 12.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 231,977 shares of the financial services provider’s stock after selling 33,560 shares during the period. Meitav Dash Investments Ltd.’s holdings in Synchrony Financial were worth $8,075,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in the company. Massmutual Trust Co. FSB ADV increased its position in Synchrony Financial by 115.7% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 964 shares of the financial services provider’s stock valued at $45,000 after buying an additional 517 shares in the last quarter. KRS Capital Management LLC bought a new position in Synchrony Financial during the 4th quarter valued at approximately $46,000. Column Capital Advisors LLC bought a new position in Synchrony Financial during the 1st quarter valued at approximately $37,000. Sandy Spring Bank increased its position in Synchrony Financial by 26.1% during the 1st quarter. Sandy Spring Bank now owns 1,450 shares of the financial services provider’s stock valued at $50,000 after buying an additional 300 shares in the last quarter. Finally, Geneos Wealth Management Inc. increased its holdings in shares of Synchrony Financial by 17.8% in the 4th quarter. Geneos Wealth Management Inc. now owns 1,588 shares of the financial services provider’s stock worth $73,000 after purchasing an additional 240 shares in the last quarter. Institutional investors own 98.26% of the company’s stock.
Synchrony Financial Price Performance
Shares of Synchrony Financial stock opened at $33.90 on Friday. The stock’s 50-day simple moving average is $31.64 and its 200-day simple moving average is $36.26. Synchrony Financial has a 52 week low of $27.22 and a 52 week high of $52.49. The company has a market capitalization of $16.33 billion, a price-to-earnings ratio of 4.95, a PEG ratio of 0.26 and a beta of 1.57. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.96.
Synchrony Financial announced that its Board of Directors has initiated a stock buyback program on Monday, April 18th that permits the company to repurchase $2.80 billion in outstanding shares. This repurchase authorization permits the financial services provider to repurchase up to 13.6% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.
Synchrony Financial Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 11th. Stockholders of record on Monday, August 1st will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.71%. This is a boost from Synchrony Financial’s previous quarterly dividend of $0.22. The ex-dividend date is Friday, July 29th. Synchrony Financial’s payout ratio is 13.43%.
Analyst Ratings Changes
A number of analysts have commented on SYF shares. Piper Sandler set a $41.00 target price on Synchrony Financial in a report on Tuesday, July 19th. Stephens lifted their target price on Synchrony Financial from $29.00 to $35.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 19th. StockNews.com raised Synchrony Financial from a “hold” rating to a “buy” rating in a report on Monday, July 25th. The Goldman Sachs Group raised their price target on Synchrony Financial from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Tuesday, April 19th. Finally, BMO Capital Markets raised their price target on Synchrony Financial from $49.00 to $52.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 19th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $45.76.
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 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.
- Get a free copy of the StockNews.com research report on Synchrony Financial (SYF)
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