BTC Capital Management Inc. Sells 18,196 Shares of Synchrony Financial (NYSE:SYF)

BTC Capital Management Inc. trimmed its stake in Synchrony Financial (NYSE:SYF) by 25.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 52,309 shares of the financial services provider’s stock after selling 18,196 shares during the period. BTC Capital Management Inc.’s holdings in Synchrony Financial were worth $3,400,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Larson Financial Group LLC grew its holdings in shares of Synchrony Financial by 92.7% during the third 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 last quarter. Raleigh Capital Management Inc. boosted its holdings in Synchrony Financial by 151.4% during the fourth 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 last quarter. Quarry LP grew its holdings in Synchrony Financial by 301.3% during the third quarter. Quarry LP now owns 899 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 675 shares during the period. Capital Performance Advisors LLP bought a new stake in shares of Synchrony Financial in the 3rd quarter valued at $50,000. Finally, Venturi Wealth Management LLC raised its position in shares of Synchrony Financial by 36.6% during the third quarter. Venturi Wealth Management LLC now owns 1,662 shares of the financial services provider’s stock worth $83,000 after purchasing an additional 445 shares during the period. Institutional investors and hedge funds own 96.48% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on SYF shares. Evercore ISI upped their target price on shares of Synchrony Financial from $58.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Compass Point downgraded shares of Synchrony Financial from a “buy” rating to a “neutral” rating and set a $70.00 price objective for the company. in a research report on Tuesday. Keefe, Bruyette & Woods boosted their target price on Synchrony Financial from $62.00 to $82.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Robert W. Baird set a $62.00 price target on shares of Synchrony Financial in a report on Thursday, October 17th. Finally, Truist Financial lifted their target price on Synchrony Financial from $72.00 to $77.00 and gave the stock a “hold” rating in a report on Thursday. Seven equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $69.30.

Insider Buying and Selling at Synchrony Financial

In related news, insider Jonathan S. Mothner sold 34,163 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $64.99, for a total transaction of $2,220,253.37. Following the completion of the sale, the insider now owns 127,587 shares in the company, valued at approximately $8,291,879.13. This trade represents a 21.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.33% of the company’s stock.

Synchrony Financial Trading Up 0.9 %

NYSE SYF opened at $69.40 on Friday. The stock has a market capitalization of $27.02 billion, a P/E ratio of 8.13, a P/E/G ratio of 0.80 and a beta of 1.64. Synchrony Financial has a one year low of $37.91 and a one year high of $70.93. The business has a 50 day simple moving average of $67.10 and a 200 day simple moving average of $57.30. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.24 and a quick ratio of 1.25.

Synchrony Financial (NYSE:SYF) last issued its earnings results on Tuesday, January 28th. The financial services provider reported $1.91 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.02. Synchrony Financial had a return on equity of 18.30% and a net margin of 15.36%. Research analysts expect that Synchrony Financial will post 6.73 earnings per share for the current year.

Synchrony Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Monday, February 3rd will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.44%. The ex-dividend date is Monday, February 3rd. Synchrony Financial’s dividend payout ratio (DPR) 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.