Amalgamated Bank Sells 3,077 Shares of Synchrony Financial (NYSE:SYF)

Amalgamated Bank lowered its stake in shares of Synchrony Financial (NYSE:SYF) by 4.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 74,770 shares of the financial services provider’s stock after selling 3,077 shares during the period. Amalgamated Bank’s holdings in Synchrony Financial were worth $4,860,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bogart Wealth LLC purchased a new position in shares of Synchrony Financial during the fourth quarter valued at approximately $26,000. Y.D. More Investments Ltd lifted its stake in 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 valued at $31,000 after acquiring an additional 253 shares in the last quarter. Larson Financial Group LLC boosted its holdings in 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 acquiring an additional 292 shares during the last quarter. Raleigh Capital Management Inc. grew its stake in shares of Synchrony Financial by 151.4% in the 4th quarter. Raleigh Capital Management Inc. now owns 807 shares of the financial services provider’s stock worth $52,000 after acquiring an additional 486 shares in the last quarter. Finally, Quarry LP grew its stake in shares of Synchrony Financial by 301.3% in the 3rd quarter. Quarry LP now owns 899 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 675 shares in the last quarter. 96.48% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SYF. Compass Point lowered shares of 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. Royal Bank of Canada lifted their target price on shares of Synchrony Financial from $70.00 to $73.00 and gave the stock a “sector perform” rating in a research report on Wednesday, January 29th. The Goldman Sachs Group upped their target price on Synchrony Financial from $72.50 to $82.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Bank of America increased their price target on Synchrony Financial from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. Finally, Truist Financial boosted their price objective on Synchrony Financial from $72.00 to $77.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Seven equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $69.30.

Synchrony Financial Stock Performance

Shares of SYF stock opened at $59.12 on Friday. The stock has a market capitalization of $22.98 billion, a P/E ratio of 6.92, a PEG ratio of 0.71 and a beta of 1.63. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.01. The firm’s 50 day moving average is $66.06 and its 200 day moving average is $59.47. Synchrony Financial has a 12 month low of $39.67 and a 12 month high of $70.93.

Synchrony Financial (NYSE:SYF) last posted its earnings results on Tuesday, January 28th. The financial services provider reported $1.91 earnings per share (EPS) for the quarter, topping 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, sell-side analysts anticipate that Synchrony Financial will post 7.67 earnings per share for the current year.

Synchrony Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date was Monday, February 3rd. Synchrony Financial’s payout ratio is presently 11.71%.

About Synchrony Financial

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.