Eagle Bay Advisors LLC Sells 229 Shares of Synchrony Financial (NYSE:SYF)

Eagle Bay Advisors LLC lessened its position in Synchrony Financial (NYSE:SYF) by 11.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,829 shares of the financial services provider’s stock after selling 229 shares during the quarter. Eagle Bay Advisors LLC’s holdings in Synchrony Financial were worth $119,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in SYF. Larson Financial Group LLC raised its position in Synchrony Financial by 92.7% in the 3rd quarter. Larson Financial Group LLC now owns 607 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 292 shares during the period. Altshuler Shaham Ltd bought a new position in shares of Synchrony Financial during the second quarter valued at approximately $31,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Synchrony Financial in the second quarter worth approximately $39,000. Quarry LP lifted its stake 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 acquiring an additional 675 shares during the last quarter. Finally, Capital Performance Advisors LLP purchased a new position in Synchrony Financial during the 3rd quarter valued at $50,000. Institutional investors own 96.48% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SYF. Evercore ISI increased their target price on Synchrony Financial from $58.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. StockNews.com raised shares of Synchrony Financial from a “hold” rating to a “buy” rating in a research note on Wednesday, October 9th. Truist Financial began coverage on shares of Synchrony Financial in a research report on Tuesday, January 7th. They issued a “hold” rating and a $72.00 price objective for the company. Compass Point raised their target price on shares of Synchrony Financial from $60.00 to $77.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Finally, TD Cowen boosted their price target on Synchrony Financial from $60.00 to $62.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Seven investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Synchrony Financial has a consensus rating of “Moderate Buy” and an average target price of $65.45.

Synchrony Financial Stock Performance

Shares of SYF opened at $64.88 on Tuesday. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.06. The firm has a market cap of $25.26 billion, a PE ratio of 8.47, a P/E/G ratio of 0.82 and a beta of 1.64. Synchrony Financial has a 12 month low of $35.29 and a 12 month high of $69.39. The stock has a fifty day moving average price of $65.92 and a 200-day moving average price of $55.52.

Synchrony Financial (NYSE:SYF) last released its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.94 EPS for the quarter, beating analysts’ consensus estimates of $1.77 by $0.17. Synchrony Financial had a return on equity of 16.64% and a net margin of 13.98%. The company had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $3.76 billion. During the same period last year, the business posted $1.48 earnings per share. The firm’s revenue was up 9.8% compared to the same quarter last year. Equities research analysts predict that Synchrony Financial will post 6.51 earnings per share for the current fiscal year.

Synchrony Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $1.00 dividend on an annualized basis and a yield of 1.54%. Synchrony Financial’s payout ratio is 13.05%.

Insiders Place Their Bets

In other news, insider Curtis Howse sold 21,934 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $55.13, for a total value of $1,209,221.42. Following the transaction, the insider now directly owns 99,743 shares of the company’s stock, valued at approximately $5,498,831.59. This represents a 18.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jonathan S. Mothner sold 34,163 shares of Synchrony Financial stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $64.99, for a total value of $2,220,253.37. Following the sale, the insider now directly owns 127,587 shares of the company’s stock, valued at $8,291,879.13. This trade represents a 21.12 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.

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.