OVERSEA CHINESE BANKING Corp Ltd Makes New $227,000 Investment in Synchrony Financial (NYSE:SYF)

OVERSEA CHINESE BANKING Corp Ltd purchased a new position in shares of Synchrony Financial (NYSE:SYF) during the 4th quarter, Holdings Channel.com reports. The fund purchased 3,492 shares of the financial services provider’s stock, valued at approximately $227,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Xponance Inc. grew its position in Synchrony Financial by 3.5% during the 4th quarter. Xponance Inc. now owns 58,927 shares of the financial services provider’s stock worth $3,830,000 after purchasing an additional 1,975 shares during the period. Generali Asset Management SPA SGR acquired a new stake in Synchrony Financial during the 4th quarter worth about $3,228,000. Tocqueville Asset Management L.P. acquired a new stake in Synchrony Financial during the 4th quarter worth about $316,000. TCTC Holdings LLC acquired a new stake in Synchrony Financial during the 4th quarter worth about $27,000. Finally, Parallel Advisors LLC boosted its stake in shares of Synchrony Financial by 2.1% during the 4th quarter. Parallel Advisors LLC now owns 25,753 shares of the financial services provider’s stock worth $1,674,000 after acquiring an additional 528 shares in the last quarter. 96.48% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on SYF shares. Royal Bank of Canada increased 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 note on Wednesday, January 29th. UBS Group increased their target price on shares of Synchrony Financial from $58.00 to $66.00 and gave the stock a “neutral” rating in a research note on Monday, January 13th. Compass Point lowered shares of Synchrony Financial from a “buy” rating to a “neutral” rating and set a $70.00 target price on the stock. in a research note on Tuesday, January 28th. Morgan Stanley raised shares of Synchrony Financial from an “underweight” rating to an “overweight” rating and increased their target price for the stock from $40.00 to $82.00 in a research note on Thursday, December 19th. Finally, Truist Financial increased their target price on shares of Synchrony Financial from $72.00 to $77.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. Six investment 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 company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $68.70.

Synchrony Financial Stock Performance

Shares of SYF stock opened at $53.85 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. Synchrony Financial has a 52 week low of $39.67 and a 52 week high of $70.93. The stock has a market capitalization of $20.93 billion, a PE ratio of 6.31, a P/E/G ratio of 0.71 and a beta of 1.67. The firm has a 50 day moving average of $62.61 and a two-hundred day moving average of $60.17.

Synchrony Financial (NYSE:SYF) last issued its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $1.91 EPS for the quarter, beating the consensus estimate of $1.89 by $0.02. Synchrony Financial had a net margin of 15.36% and a return on equity of 18.30%. On average, research analysts predict that Synchrony Financial will post 7.67 EPS for the current fiscal year.

Synchrony Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd were given a $0.25 dividend. The ex-dividend date was Monday, February 3rd. This represents a $1.00 annualized dividend and a yield of 1.86%. Synchrony Financial’s dividend payout ratio is presently 11.71%.

Synchrony Financial 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.