Waycross Partners LLC Invests $382,000 in Synchrony Financial (NYSE:SYF)

Waycross Partners LLC acquired a new position in shares of Synchrony Financial (NYSE:SYF) during the fourth quarter, HoldingsChannel reports. The fund acquired 10,000 shares of the financial services provider’s stock, valued at approximately $382,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC purchased a new stake in Synchrony Financial during the third quarter worth about $35,000. Massmutual Trust Co. FSB ADV lifted its holdings in shares of Synchrony Financial by 44.1% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,274 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 390 shares in the last quarter. Wetzel Investment Advisors Inc. purchased a new stake in shares of Synchrony Financial in the fourth quarter valued at about $55,000. Private Trust Co. NA lifted its holdings in shares of Synchrony Financial by 13.4% in the fourth quarter. Private Trust Co. NA now owns 2,711 shares of the financial services provider’s stock valued at $104,000 after purchasing an additional 320 shares in the last quarter. Finally, Systematic Alpha Investments LLC purchased a new stake in shares of Synchrony Financial in the third quarter valued at about $100,000. Hedge funds and other institutional investors own 96.48% of the company’s stock.

Insider Activity

In other news, insider David P. Melito sold 7,283 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $38.99, for a total value of $283,964.17. Following the completion of the transaction, the insider now directly owns 14,183 shares in the company, valued at $552,995.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider David P. Melito sold 7,283 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $38.99, for a total value of $283,964.17. Following the completion of the transaction, the insider now directly owns 14,183 shares in the company, valued at $552,995.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Curtis Howse sold 6,179 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $42.82, for a total transaction of $264,584.78. Following the completion of the transaction, the insider now owns 152,604 shares of the company’s stock, valued at $6,534,503.28. The disclosure for this sale can be found here. Over the last three months, insiders sold 148,158 shares of company stock worth $6,106,106. 0.65% of the stock is currently owned by company insiders.

Synchrony Financial Trading Down 1.6 %

Shares of Synchrony Financial stock traded down $0.72 during trading hours on Tuesday, hitting $43.99. The company’s stock had a trading volume of 2,642,347 shares, compared to its average volume of 4,471,907. Synchrony Financial has a 1-year low of $26.59 and a 1-year high of $45.46. The business has a fifty day moving average of $41.84 and a 200 day moving average of $37.18. The company has a market capitalization of $17.66 billion, a PE ratio of 6.31, a P/E/G ratio of 1.09 and a beta of 1.61. The company has a quick ratio of 1.23, a current ratio of 1.24 and a debt-to-equity ratio of 1.15.

Synchrony Financial (NYSE:SYF) last released its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.19). Synchrony Financial had a return on equity of 16.01% and a net margin of 13.49%. The business had revenue of $5.57 billion during the quarter, compared to analyst estimates of $4.44 billion. During the same period in the previous year, the company earned $1.35 EPS. As a group, equities analysts forecast that Synchrony Financial will post 5.63 EPS for the current year.

Synchrony Financial declared that its board has approved a share buyback plan on Wednesday, April 24th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 5.5% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Synchrony Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, May 6th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.27%. The ex-dividend date is Friday, May 3rd. Synchrony Financial’s payout ratio is currently 14.35%.

Analysts Set New Price Targets

Several analysts have issued reports on SYF shares. StockNews.com raised shares of Synchrony Financial from a “hold” rating to a “buy” rating in a report on Thursday, April 25th. TD Cowen upped their price target on shares of Synchrony Financial from $49.00 to $51.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Stephens boosted their price objective on shares of Synchrony Financial from $40.00 to $46.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 24th. Deutsche Bank Aktiengesellschaft began coverage on shares of Synchrony Financial in a research report on Wednesday, January 10th. They issued a “buy” rating and a $56.00 price objective for the company. Finally, Piper Sandler boosted their price objective on shares of Synchrony Financial from $46.00 to $48.00 and gave the company an “overweight” rating in a research report on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $42.72.

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.