DnB Asset Management AS Has $3.77 Million Holdings in Synchrony Financial (NYSE:SYF)

DnB Asset Management AS boosted its holdings in shares of Synchrony Financial (NYSE:SYFGet Rating) by 2.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 136,471 shares of the financial services provider’s stock after buying an additional 3,699 shares during the quarter. DnB Asset Management AS’s holdings in Synchrony Financial were worth $3,769,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Quent Capital LLC increased its position in Synchrony Financial by 50.1% during the first quarter. Quent Capital LLC now owns 1,003 shares of the financial services provider’s stock worth $35,000 after buying an additional 335 shares during the last quarter. Column Capital Advisors LLC acquired a new position in Synchrony Financial during the first quarter worth approximately $37,000. Covestor Ltd grew its position in shares of Synchrony Financial by 138.8% in the first quarter. Covestor Ltd now owns 1,108 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 644 shares during the last quarter. Zions Bancorporation N.A. grew its position in shares of Synchrony Financial by 230.5% in the first quarter. Zions Bancorporation N.A. now owns 1,226 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 855 shares during the last quarter. Finally, KRS Capital Management LLC acquired a new position in shares of Synchrony Financial in the fourth quarter valued at approximately $46,000. Institutional investors and hedge funds own 94.12% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Piper Sandler set a $41.00 target price on Synchrony Financial in a research report on Tuesday, July 19th. Stephens upped their target price on Synchrony Financial from $29.00 to $35.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 19th. Keefe, Bruyette & Woods decreased their target price on Synchrony Financial from $59.00 to $46.00 in a research report on Monday, July 11th. Credit Suisse Group increased their price target on Synchrony Financial from $46.00 to $47.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 19th. Finally, Wells Fargo & Company downgraded Synchrony Financial from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $45.00 to $32.00 in a research report on Wednesday, July 13th. One research analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Synchrony Financial has an average rating of “Moderate Buy” and a consensus target price of $44.00.

Synchrony Financial Stock Up 0.6 %

NYSE SYF opened at $32.71 on Tuesday. The business has a fifty day moving average price of $33.11 and a two-hundred day moving average price of $34.14. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.21 and a quick ratio of 1.21. Synchrony Financial has a fifty-two week low of $27.22 and a fifty-two week high of $52.49. The stock has a market capitalization of $15.76 billion, a PE ratio of 4.72, a PEG ratio of 0.24 and a beta of 1.56.

Synchrony Financial (NYSE:SYFGet Rating) last announced its quarterly earnings results on Monday, July 18th. The financial services provider reported $1.60 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.17. Synchrony Financial had a return on equity of 27.06% and a net margin of 22.76%. The company had revenue of $3.80 billion during the quarter, compared to analysts’ expectations of $2.74 billion. During the same period in the prior year, the company earned $2.12 EPS. Equities analysts expect that Synchrony Financial will post 5.79 earnings per share for the current fiscal year.

Synchrony Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 11th. Stockholders of record on Monday, August 1st were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.81%. This is a boost from Synchrony Financial’s previous quarterly dividend of $0.22. The ex-dividend date was Friday, July 29th. Synchrony Financial’s dividend payout ratio is presently 13.43%.

Synchrony Financial Company Profile

(Get Rating)

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.

See Also

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

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