Independence Bank of Kentucky Raises Stake in Synchrony Financial (NYSE:SYF)

Independence Bank of Kentucky boosted its holdings in Synchrony Financial (NYSE:SYF) by 1,304.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,376 shares of the financial services provider’s stock after purchasing an additional 1,278 shares during the quarter. Independence Bank of Kentucky’s holdings in Synchrony Financial were worth $89,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in SYF. Chicago Partners Investment Group LLC increased its position in Synchrony Financial by 4.2% during the 4th quarter. Chicago Partners Investment Group LLC now owns 6,696 shares of the financial services provider’s stock valued at $441,000 after buying an additional 270 shares in the last quarter. Caprock Group LLC grew its stake in shares of Synchrony Financial by 17.1% in the fourth quarter. Caprock Group LLC now owns 54,274 shares of the financial services provider’s stock worth $3,528,000 after acquiring an additional 7,941 shares during the last quarter. New Wave Wealth Advisors LLC bought a new position in shares of Synchrony Financial during the fourth quarter valued at $452,000. Mediolanum International Funds Ltd raised its position in shares of Synchrony Financial by 9.1% in the 4th quarter. Mediolanum International Funds Ltd now owns 218,413 shares of the financial services provider’s stock worth $14,173,000 after purchasing an additional 18,290 shares during the last quarter. Finally, Foster & Motley Inc. boosted its stake in Synchrony Financial by 7.8% in the 4th quarter. Foster & Motley Inc. now owns 34,576 shares of the financial services provider’s stock worth $2,247,000 after purchasing an additional 2,508 shares in the last quarter. Institutional investors own 96.48% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on SYF shares. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Synchrony Financial from $58.00 to $68.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Evercore ISI boosted their price objective on shares of Synchrony Financial from $58.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Truist Financial increased their target price on Synchrony Financial from $72.00 to $77.00 and gave the company a “hold” rating in a research note on Thursday. Wells Fargo & Company raised Synchrony Financial from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $60.00 to $85.00 in a report on Tuesday, December 3rd. Finally, Compass Point downgraded Synchrony Financial from a “buy” rating to a “neutral” rating and set a $70.00 price objective for the company. in a report on Tuesday, January 28th. Seven research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $69.30.

Insider Activity at Synchrony Financial

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

Synchrony Financial Price Performance

SYF stock opened at $68.90 on Monday. The company has a market capitalization of $26.82 billion, a PE ratio of 8.07, a price-to-earnings-growth ratio of 0.80 and a beta of 1.64. The company’s fifty day moving average price is $67.16 and its 200-day moving average price is $57.47. Synchrony Financial has a one year low of $37.91 and a one year high of $70.93. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.25 and a current ratio of 1.24.

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 return on equity of 18.30% and a net margin of 15.36%. On average, equities analysts anticipate that Synchrony Financial will post 6.73 EPS for the current fiscal year.

Synchrony Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Monday, February 3rd will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend is Monday, February 3rd. Synchrony Financial’s dividend payout ratio 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.