PNC Financial Services Group Inc. Purchases 1,794 Shares of Synchrony Financial (NYSE:SYF)

PNC Financial Services Group Inc. lifted its holdings in shares of Synchrony Financial (NYSE:SYF) by 3.1% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 59,744 shares of the financial services provider’s stock after acquiring an additional 1,794 shares during the period. PNC Financial Services Group Inc.’s holdings in Synchrony Financial were worth $3,883,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SYF. Bogart Wealth LLC bought a new position in Synchrony Financial during the fourth quarter worth about $26,000. Larson Financial Group LLC lifted its position in shares of Synchrony Financial by 92.7% during the 3rd quarter. Larson Financial Group LLC now owns 607 shares of the financial services provider’s stock worth $30,000 after buying an additional 292 shares during the period. Y.D. More Investments Ltd lifted its position in shares of Synchrony Financial by 111.5% during the 4th quarter. Y.D. More Investments Ltd now owns 480 shares of the financial services provider’s stock worth $31,000 after buying an additional 253 shares during the period. Quarry LP lifted its position in shares of Synchrony Financial by 301.3% during the 3rd quarter. Quarry LP now owns 899 shares of the financial services provider’s stock worth $45,000 after buying an additional 675 shares during the period. Finally, Raleigh Capital Management Inc. lifted its position in shares of Synchrony Financial by 151.4% during the 4th quarter. Raleigh Capital Management Inc. now owns 807 shares of the financial services provider’s stock worth $52,000 after buying an additional 486 shares during the period. 96.48% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on SYF shares. Wells Fargo & Company raised Synchrony Financial from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $60.00 to $85.00 in a report on Tuesday, December 3rd. Bank of America lifted their price target on shares of Synchrony Financial from $82.00 to $85.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Compass Point downgraded shares of Synchrony Financial from a “buy” rating to a “neutral” rating and set a $70.00 price target for the company. in a report on Tuesday, January 28th. The Goldman Sachs Group boosted their target price on Synchrony Financial from $72.50 to $82.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Finally, Barclays raised Synchrony Financial from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $59.00 to $79.00 in a report on Monday, January 6th. Six analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $69.30.

Synchrony Financial Stock Down 3.2 %

Synchrony Financial stock opened at $51.92 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.01. The stock has a market capitalization of $20.18 billion, a PE ratio of 6.08, a price-to-earnings-growth ratio of 0.71 and a beta of 1.67. The company has a 50 day moving average of $63.90 and a 200-day moving average of $60.03. Synchrony Financial has a twelve month low of $39.67 and a twelve month high of $70.93.

Synchrony Financial (NYSE:SYF) last released its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $1.91 EPS for the quarter, beating the consensus estimate of $1.89 by $0.02. Synchrony Financial had a return on equity of 18.30% and a net margin of 15.36%. On average, equities research analysts anticipate that Synchrony Financial will post 7.67 EPS for the current fiscal year.

Synchrony Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 3rd were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.93%. The ex-dividend date was Monday, February 3rd. Synchrony Financial’s payout ratio is presently 11.71%.

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.