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

Amalgamated Bank trimmed its position in shares of Synchrony Financial (NYSE:SYF) by 4.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Private Advisor Group LLC bought a new position in Synchrony Financial in the third quarter valued at approximately $276,000. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Synchrony Financial by 34.1% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 46,120 shares of the financial services provider’s stock valued at $2,175,000 after purchasing an additional 11,723 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Synchrony Financial by 1.1% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 19,995 shares of the financial services provider’s stock valued at $997,000 after purchasing an additional 227 shares during the last quarter. Integrated Advisors Network LLC raised its holdings in shares of Synchrony Financial by 5.4% during the 3rd quarter. Integrated Advisors Network LLC now owns 10,476 shares of the financial services provider’s stock worth $523,000 after buying an additional 534 shares in the last quarter. Finally, First Trust Direct Indexing L.P. lifted its position in shares of Synchrony Financial by 16.2% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 17,137 shares of the financial services provider’s stock worth $855,000 after buying an additional 2,387 shares during the last quarter. 96.48% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on SYF shares. Compass Point cut Synchrony Financial from a “buy” rating to a “neutral” rating and set a $70.00 target price on the stock. in a research report on Tuesday, January 28th. Barclays raised shares of Synchrony Financial from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $59.00 to $79.00 in a report on Monday, January 6th. Morgan Stanley raised shares of Synchrony Financial from an “underweight” rating to an “overweight” rating and increased their price objective for the company from $40.00 to $82.00 in a research note on Thursday, December 19th. JPMorgan Chase & Co. raised shares of Synchrony Financial from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $59.00 to $72.00 in a research note on Monday, December 9th. Finally, Truist Financial upped their price target on shares of Synchrony Financial from $72.00 to $77.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. Seven analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $69.30.

Synchrony Financial Stock Down 1.0 %

Synchrony Financial stock opened at $59.12 on Friday. The firm has a market cap of $22.98 billion, a price-to-earnings ratio of 6.92, a PEG ratio of 0.71 and a beta of 1.63. Synchrony Financial has a 52-week low of $39.67 and a 52-week high of $70.93. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a 50 day moving average price of $66.06 and a two-hundred day moving average price of $59.47.

Synchrony Financial (NYSE:SYF) last announced its earnings results on Tuesday, January 28th. The financial services provider reported $1.91 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.02. Synchrony Financial had a net margin of 15.36% and a return on equity of 18.30%. Equities analysts predict that Synchrony Financial will post 7.67 EPS for the current year.

Synchrony Financial Dividend Announcement

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