Wedbush Securities Inc. Acquires Shares of 3,803 Synchrony Financial (NYSE:SYF)

Wedbush Securities Inc. bought a new position in Synchrony Financial (NYSE:SYF) in the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 3,803 shares of the financial services provider’s stock, valued at approximately $247,000.

A number of other large investors have also recently modified their holdings of the stock. Bogart Wealth LLC purchased a new stake in Synchrony Financial in the fourth quarter worth about $26,000. TCTC Holdings LLC bought a new position in shares of Synchrony Financial in the 4th quarter worth approximately $27,000. Y.D. More Investments Ltd lifted its stake in shares of Synchrony Financial by 111.5% in the 4th quarter. Y.D. More Investments Ltd now owns 480 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 253 shares during the period. Raleigh Capital Management Inc. grew its stake in Synchrony Financial by 151.4% in the fourth quarter. Raleigh Capital Management Inc. now owns 807 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 486 shares during the period. Finally, EverSource Wealth Advisors LLC raised its holdings in Synchrony Financial by 46.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 810 shares of the financial services provider’s stock worth $53,000 after purchasing an additional 257 shares in the last quarter. Institutional investors own 96.48% of the company’s stock.

Analyst Ratings Changes

SYF has been the topic of a number of research reports. Royal Bank of Canada boosted their target price on shares of Synchrony Financial from $70.00 to $73.00 and gave the company a “sector perform” rating in a report on Wednesday, January 29th. Barclays upgraded shares of Synchrony Financial from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $59.00 to $79.00 in a report on Monday, January 6th. Compass Point cut Synchrony Financial from a “buy” rating to a “neutral” rating and set a $70.00 price target on the stock. in a research report on Tuesday, January 28th. Wells Fargo & Company cut their price target on Synchrony Financial from $85.00 to $70.00 and set an “overweight” rating on the stock in a research note on Thursday, April 3rd. Finally, UBS Group lifted their price objective on Synchrony Financial from $58.00 to $66.00 and gave the company a “neutral” rating in a research note on Monday, January 13th. Eight research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $65.11.

Synchrony Financial Stock Performance

Shares of NYSE SYF opened at $46.62 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 firm’s 50-day moving average price is $56.59 and its 200-day moving average price is $60.42. Synchrony Financial has a 52-week low of $39.67 and a 52-week high of $70.93. The company has a market cap of $18.12 billion, a PE ratio of 5.46, a PEG ratio of 0.71 and a beta of 1.45.

Synchrony Financial (NYSE:SYF) last posted its earnings results on Tuesday, January 28th. The financial services provider reported $1.91 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.02. Synchrony Financial had a net margin of 15.36% and a return on equity of 18.30%. As a group, analysts anticipate that Synchrony Financial will post 7.67 EPS for the current year.

Synchrony Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 3rd were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date of this dividend was Monday, February 3rd. Synchrony Financial’s dividend payout ratio (DPR) is presently 11.71%.

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 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.